6 Things You Need To Know About Travel Insurance
Wherever you plan to go for your short term getaway or long vacation, there is always this most important thing to keep in mind – You would need to consider travel insurance as a priority especially when travelling abroad to some distant foreign land.
However, any insurance policy comes with their own predefined terms and conditions and exclusions that could be hard to comprehend at times.
Here are six points to be aware of when you are deciding on getting the best travel insurance policy and coverage.
When: Firstly, you should already know when to buy a travel insurance for yourself or family. Most finance specialists and even seasoned travelers admit that travel insurance is necessary for international trips. However, this doesn’t apply for domestic travel.
Types: There are two types of travel insurance policies. Multi-trip and Single travel policy. The frequent traveler would require a multi-trip travel insurance policy. Most multi-travel insurance policies are available on per annual basis. For frequent travelers, this policy is the more economical choice as compared to buying a single travel insurance policy. Single travel insurance policies are best suited for those who travel once in a while.
Coverage: This is the important part of a travel insurance. Usually, the terms should cover the unfortunate and unexpected that could befall you during your journey.
Another point to keep in mind, is to ensure your policy has:
Medical insurance: The rising cost of healthcare expenses vary and mostly high internationally and could hit your pocket really hard and could be merciless. Medical insurance cover takes care of the cashless victims’ hospitalisation worldwide, including medical bills, hospital bills, daily hospital allowances, emergency sickness, dental relief, emergency medical evacuation and some even offer expenses to return to the country of origin. Some even cover pre-existing diseases, under certain terms and conditions. It’s adviseable to read the policy document in detail – twice over if you have to. Unfortunately, not all travel insurers would cover all the conditions stated above.
Personal content: Lost your luggage? It’s covered with this term. This is important as expensive gadgets like Mobile Phones, Laptops, Tablets, iPad and iPhones, Cameras have become part of a traveler’s everyday baggage content.
Travel inconvenience: Delayed trips? It’s covered here as well as trip cancellations, trip curtailments, missed connections and any unforeseen circumstance. With this term in force, you wouldn’t need to worry about forking out the cost of the re-booking fee and cancellation.
If you are travelling as a family or in a group, travel cover will definitely be cheaper and manageable. Be aware that most travel polices will not cover adventure or extreme sports. With this, if you plan to indulge in extreme or adventure sports, always ensure you are covered for your own safety.
Some policy benefits are extendable up to a maximum of 360 days which works out to be an extension of another 180 days. If at all, your trip gets extended for any reason, you wouldn’t need to buy a separate cover, just request for extension and that should do the trick. Some policies allow for pay-per-day service at the amount the insurers flat rate only for the first week and then after that, per day basis. Some policies are charge based on the extra days of extension.
Now that you are more informed on what travel insurance is all about, remember to check any online portals like this one and other various Insurers’ websites for comparison. Best to read carefully in detail the policy benefits and exclusions to ensure no surprises, just in case you need to make a claim.
This is why you still need travel insurance EVEN if you have an EHIC card
TRAVEL insurance is something British tourists shouldn’t consider going away without – so why do so many holidaymakers think just an EHIC card will protect them?
“It’s your safety net protecting you against the unexpected. Being abroad isn’t the same as being at home and people can forget that,” Mark Colonnese, Director at travel tech specialist Aquarium Software, told Express.co.uk.
“Without insurance, help can be a very long way away and very costly.”
However, many Britons are under the impression that travel insurance is unnecessary if you have a European Health Insurance Card (EHIC) card with the majority overestimating its benefits.
An EHIC – free to most UK residents – entitles the bearer to the same level of state medical care provided to eligible nationals of the European Economic Area (EEA) country they’re travelling in.
Do You Need Travel Insurance for The Summer Vacation?
Source: mentalfloss.com | By Jake Rossen
When booking an airfare, cruise, or hotel reservation online, companies often try to upsell you. Check one box to add a car rental. Check another to upgrade your room. You’ll also be asked if you want travel insurance, usually offered via a third party and covering everything from late-notice cancellations to health emergencies.
Is the insurance worth it, or is it the extended warranty of the travel industry?
When you opt for insurance, you’re paying a premium to protect yourself against financial losses as a result of interruptions to your travel plans. If a ticket is deemed nonrefundable by an airline, insurance could cover the cost. If they lose your bags, you might be entitled to item replacement. If you become ill, your plan may cover “gap” expenses, or fees that your existing health insurance might not.
What a policy covers depends on the tier selected, as The Philadelphia Tribune points out. You might opt for a basic plan, or an all-in policy that minimizes the fine print. In most cases, you’ll be charged roughly 6 percent of the total cost of your booking for the coverage.
For domestic travel, these policies may not provide you with a wealth of benefits. If you decide to simply cancel your trip, some insurers will require that you cite one of their specific covered reasons, like illness or a death in the family. You’ll have to provide documented proof when submitting your claim. Unless it’s a very comprehensive plan, citing reasons of mood (“I don’t want to go”) won’t get you any kind of refund.
Other coverage may simply be duplicated by benefits you already have. Several hotel chains offer low or no-penalty cancellations, and most health insurance policies should cover any medical situations you encounter within the United States.
Domestic insurance is a good option, however, if a family member is ill or you anticipate a better-than-average chance your trip might need to be postponed.
International travel is a different story. These flights are typically more expensive than domestic tickets and may have a more profound impact on your wallet if you’re unable to follow through on your plans. Your health plan may also get more restrictive with traveling abroad, particularly if you incur costs like medical evacuation. A recent AAA survey noted that 38 percent of respondents planned on purchasing insurance for future international trips.
Before opting for any kind of insurance, check with the credit card company you plan to use for booking. Many offer travel insurance perks that could either supplement or even replace third-party plans.
Travel Insurance Coverage for a Cruise
If you are planning to go on an exciting cruise trip and are looking for a travel insurance plan that can cover the vital things. Then you must check each and everything very carefully and select your desired plan accordingly that includes all your requirements.
Read on to find out about some things that travel insurance for cruises should cover.
Your life is very precious. Invest in a plan that has good medical coverage. You may fall ill or even get injured during your cruise trip. Therefore, you will have to have some medical insurance coverage that will offset the cost of the medical care which you get.
You might be thinking that your home medical insurance covers care that you get outside your home country, but it’s not like that. That might cover some expense but not overall. So, you should check this thing that whether your plan includes the medical insurance terms out of the country or not.
Find a plan which covers emergency medical evacuation
Even though this is not very common but emergency medical evacuations can occur for cruisers. The emergency may involve air rescue occurring from the ship; it may involve some emergency transport required from the closest port-of-call. Costs of these can be much if your travel insurance does not cover them. If you feel like you need those to be included then select a plan that provides for this.
Bagging loss and delay
It may happen that while traveling some personal items misplaced. This can occur between airlines, ships as well as ports-of-call. Your personal belongings can also get delayed here, lost in transit and even stolen.
If you have a travel insurance plan that considers baggage loss coverage that helps recover the expenses of replacing your lost items, this can limit the stress you get when you lose your belongings. Baggage delay coverage may help you to get the important things covered while waiting for your bags.
Some identity theft
You may lose some personal documents, like your passport or travel documents. Some travel insurance companies do provide identity theft protection that can help you out here.
This can aid in guiding you through the tense procedure of limiting any harm to your credit and financial reputation. This can also help in communications along with monitoring staff to aid in replacing the documents as soon as possible.
When you are on a cruise, you are vulnerable to experience hurricanes along with other bad weather conditions. You may find a plan that covers you when the cruise gets canceled and cut short.
If you have cruise cancellation insurance, this can help to recoup costs which the cruise company says it will not reimburse or refundable. Check to see if there is coverage for itinerary changes and excursion cancellation because of the weather.
Finally, while getting travel insurance for a cruise, you must see if all the things mentioned above included or not.
3 Reasons Travel Insurance Isn’t Just For International Trips
Roughly 90% of travel insurance policies purchased in the U.S. are for international trips, according to leading travel insurance comparison site, Squaremouth. However, unexpected vacation dilemmas aren’t reserved for trips abroad.
Squaremouth explains 3 reasons travel insurance isn’t just for international trips.
Reason 1 – Domestic flight delays
Many domestic travelers are all to familiar with flight delays and cancellations caused by severe weather, mechanical issues, or computer glitches.
Most travel insurance policies include the Travel Delay benefit, which covers the cost of meals and accommodations during a flight delay. Some also carry Missed Connection coverage, which can pay for new travel arrangements if a delay causes a traveler to miss a connecting flight.
Fortunately for travelers who just want this added peace of mind: these can be the cheapest form of travel insurance, and can be purchased up until the day before a trip.
Reason 2 – Expensive trips
According to sales data from squaremouth.com, travelers are spending nearly the same amount per trip on domestic trips as those traveling internationally.
In 2017, Squaremouth customers only spent an average of $400 more on international trips compared to domestic travel.
Travel insurance policies with the Trip Cancellation benefit can reimburse travelers the cost of their trip if they have to cancel for several reasons, including an unexpected illness, or being unable to travel due to work or weather.
Reason 3 – High medical deductibles
Travelers taking extended vacations, like snowbirds, or more adventurous trips, like skiers or surfers, should consider purchasing a travel insurance policy in lieu of using their own health insurance.
Consumer advocate and travel columnist, Christopher Elliott, says the cost and convenience of a travel insurance policy makes sense for his domestic trips, explaining, “It covered my entire family for a whole year, and provided coverage when my medical insurance didn’t.” Adding, “What surprised me was that insurance covered us so quickly. We sent the receipts and the reimbursement happened very quickly. In one case, within 48 hours.”
Travel insurance policies can include benefits for pre-existing conditions, hundreds of thousands of dollars in Emergency Medical coverage, and no medical deductible. Depending on the age of the traveler, this can be less expensive than paying their health insurance deductible.
*All statistics are based on travel insurance sales on squaremouth.com to U.S. residents.
Travel insurance for Pensioners (UK)
How to buy travel insurance for pensioners
Source: inews.co.uk | By Sophie Lam
Once you reach retirement age, the cost of travel insurance rises; many older travellers find that it is both difficult and expensive to take out adequate cover, particularly if pre-existing medical conditions need to be included, which pushes up premiums further still.
Some travel insurance for pensioners policies even stipulate an upper age limit, leaving those aged 80 and above in the predicament of being unable to travel insured, with all the risk that entails. Others increase premiums for every five or 10 years of age. It’s a frustrating situation given the propensity to travel among older people and retirees.
The reason isn’t the likelihood of alcohol-induced mishaps or even cancellations or delays, but the perceived risk of hospital visits, medical claims or at worst repatriation, which tend to be the most costly insurance settlements. For this reason, it’s advisable to take out insurance as soon as you’ve paid for your trip, in case you need to cancel due to health reasons.
Pre-existing medical conditions might be seemingly low-risk, such as diabetes, asthma, arthritis, high blood pressure or high cholesterol
What are the options? There are several specialist providers that offer cover for older travellers, and those that do so without staggering premiums, meaning there’s no need to spend more on your travel insurance than you do on the trip itself. As with any type insurance, shop around to compare features and costs before committing.
Find a provider
The following companies are just some that offer specialist travel insurance for older travellers. When considering their offers, decide whether it’s worth taking out a single trip or annual policy, depending on how often you’re likely to travel.
Good to Go covers over-65s and has no upper age limit. It also covers pre-existing medical conditions (including mental health and terminal illness), with benefits that include loss of medication and mobility aids.
Saga covers over-50s and has no upper age limit. Medical screenings are offered for pre-existing medical conditions and cruises are covered as standard.
Age UK offers travel insurance for over-70s with no upper age limit and inclusions such as pre-existing medical conditions.
Staysure has policies for over-50s, over-60s, and every five years up to over-85s with no upper age limit (single trips only). Optional extras include cruise cover and medical conditions can be included.
All Clear Insurance has policies for age brackets between 50+ and 90+ with no upper age limit and coverage for medical conditions.
Insure and Go offers specialist cover for over-65s with no upper age limits and grandchildren are included on its policies; medical conditions are also considered.
Mitigate the circumstances
It’s vital to list any pre-existing medical conditions before taking out a policy. If you fall ill from an acknowledged illness while abroad without having let the insurance company know about it, your policy will be void and you’ll be liable for any expenses incurred. These might be seemingly low-risk, such as diabetes, asthma, arthritis, high blood pressure or high cholesterol. It’s also important to notify your insurance company if you develop a condition after having taken out an annual insurance policy.
When taking out a policy, make sure it includes emergency medical treatment costs and repatriation. While medical conditions will push up premiums, many policies allow for mix-and-match features that could bring the overall price down again. For example, you could remove coverage such as valuables, lost luggage or sports activities (skiing or water sports, for example).