Have you ever wondered why you need travel insurance and what exactly is it? Why should you pay an additional fee every time you take a trip to a new place? Is it really worth paying an additional 50% on your travel expenses and getting added coverage? Is travel medical insurance worth it? What’s the difference between travel insurance policies and travel medical insurance policies? In this article we will explain all of the terminology and all the nitty gritty stuff you should be aware of when searching for a proper policy.
Travel Insurance Policies are a bundle of benefits bundled together that provide protection against many of the unexpected things that can occur while away from home. These policies generally will offer policies for critical travel injuries, trip cancellations, delayed or lost bags, personal items lost or stolen, trip interruption, travel delays and more. Some policies will also cover activities like bungee jumping or other extreme sports, sexual assault, terrorism, death and some liability and medical risks as well. You are probably pretty well catered for with these policies so make sure you check them over before you buy.
Trip Cancellation policies are a good way to protect yourself in the event that you’re not able to travel on your scheduled trip because of some unforeseen events. These policies allow you to get a cash refund back or replacement trip ticket, depending on the reason for the cancellation. They are especially valuable for frequent travelers who are afraid to take their vacation or afraid that their trip might have been a fluke. When you go through the right travel insurance companies you can feel secure that you’re covered when you need it most. These are also a great safeguard in case you unexpectedly get sick or injured during your trip. Your medical expenses will be covered no matter what extent they are.
There are some medical issues that are usually not covered by regular travel insurance policies. For instance, if you’re traveling abroad and contract a severe virus that has become life threatening you might not have coverage for your treatment in a foreign hospital. Even if you’ve hired an expensive medical service there may be nothing to help you out in the end. A good travel insurance policy will cover any medical expense you incur.
Most trip cancellation policies will also cover medical emergencies where you become sick or ill during your trip. Some policies will cover the cost of emergency medical care while others will not. Again, you have to read the fine print to find out exactly what you’re covered for. Don’t sign up for any travel insurance coverage unless you know you need it.
Another popular type of travel insurance is a single article limit. This simply means that you can only claim a specific amount for each medical expense you have. The maximum amount is based on the premium you pay for the policy. When signing up for a policy like this you should know that once the limit is reached, the insurance will cover nothing. You will most likely have to pay for the medical expenses out of your own pocket. It’s a good idea to bring a list of the medical expenses that you think you’ll need for this type of policy with you when you check in at the airport.
Another type of travel insurance policy is referred to as long-term care insurance. It covers a person in the event that they suddenly become ill or injured and cannot travel the rest of the way home. A long-term policy is usually required for people who travel for work or who love to travel for pleasure. Typically a long-term plan will give you coverage for a year. Once the year is up, the coverage stops and you’ll have to purchase a new one or start a prepaid medical plan.
Some types of insurance policies are called ‘backpacker insurance’ or travel insurance. These plans are not exactly what they sound like. Rather than covering the trip completely, backpacker insurance covers the policy holder for items that are brought on the trip but are not covered by the main policy like dental work or emergency care. While a backpacker insurance plan might be a good idea when you travel with a large group of friends or plan to stay in hostels instead of hotels, it is not a good idea to buy one of these plans if you are traveling alone.