WHAT IS TRAVEL INSURANCE?

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travel insurance

The Travel insurance is the insurance coverage for risks affiliated with traveling such as loss of luggage, travel delays, and death or injury while in a tour of foreign country. This is one of the best used when your pre-paid and non-refundable expenses are more than you are willing to lose. In this case, you are only at risk of losing minimum amount which might not be worth insuring. Again, you are missing out on coverage for baggage and delays, but these coverages alone might not be worth it. Why insurance is important you can read this article here.

There are main two basic types of travel insurance. They are as follows:

Vacation Plans

Vacation plans include coverage for:

  • Cancelled/Interrupted trips (To cover flights and hotel costs).
  • Medical emergencies (To cover foreign hospitalization).
  • Emergency evacuation (If travelers need to evacuate in the event of natural disaster, political strife or medical emergency).
  • Delayed baggage or trips.
  • Lost baggage (To insure a particularly valuable luggage items).
  • 24 h assistance and several other coverages.

Travel Medical Plans

Travel medical plans are for travelers leaving their home country and this type of plans focus on coverage for:

  • Medical expenses (To cover foreign hospitalization).
  • Emergency evacuation (If travelers need to evacuate in the event of natural disaster, political strife or medical emergency).
  • Life insurance (To provide term life that provides coverage at a fixed rate of payments for a limited period of time and accidental death and dismemberment protection for traveler and traveler’s family but this type of plans is not concerned with trip cancellation/interruption, trip delays and loss of baggage etc.)

 Major benefits of travel insurance are as follows:

  • It offers financial recovery for medical expenses that are incurred because of accidents and illnesses.
  • Travelers can get reimbursement for the total amount of money that they spend on medical treatment.
  • Travelers do not have to pay medical emergency transportation expenses with their own money.
  • It provides protection against trip cancellation and interruption.
  • Travel insurance ensures that they will get compensation for losses that result from trip cancellation or interruption, moreover travelers will get coverage for loss baggage or personal belongings.
  • There are many other types of coverage such as travel delay, accidental death, legal expenses, repatriation, dental expenses, unforeseen losses etc. but it depends on the policies of the insurance companies.

            It is same as to other insurance policies. Travelers must buy travel insurance before anything actually happens to disrupt traveler’s trip. It primarily works in a reimbursement basis. Travelers will get reimbursed from the travel insurance company if they approve travelers’ claim.

Some Travel Insurance Companies are as follows:

  • Generali Global Assistance. It’s predecessor, CSA Travel Protection, has long been a well-known name in travel insurance as well as Generali’s parent company namely The Europe Assistance Group, has been around since 1963. Generali believes and says the root cause of its success is “built on the foundation of trust.”
  • Seven Corners Travel Insurance. It’s the private insurance company and headquartered in Carmel. For 25 years, it has been serving for the traveler’s satisfaction when they are away from home. Seven corner’s 24/7 team is helping travelers every day with problems they encounter on their trip. It has Travel Medical Insurance for international travel insurance for trips abroad with coverage from 5 days up to 3 years, Visitor and Immigrant Insurance, it is specially for the non-United States citizen to protect them for new accidents and illnesses while they are in the USA. Trip Protection Insurance, it protects your trip cost, your medical expenses and your belongings. Lastly the Student Travel Insurance, it has been specially designed for students, faculty, scholars and their families.
  • Travelex. It is owned by Cover-More Group, one of Australia’s largest insurance providers. It is well-known international travel insurance company with offices in London, Toronto, Washington, New York and Omaha.
  • Allianz Travel Insurance USA. It is the largest travel insurance company with offices in Richmond, Virginia, USA. It’s owned by Allianz SE, the world’s largest diversified insurance company. It can offer better insurance at a lower rate. The company typically works fast on claims and resolves most complaints quickly and to the customer’s satisfaction. 
  • Travel Guard Travel Insurance. It is also a USA’s leading provider of travel insurance plans and assistance programs. Some of the main attractive policies of Travel guard travel insurance are as follows:
  • 24 h caretaker assistance.
  • Customer satisfaction guarantee.
  • Online quotes and coverage.
  • Schengen Travel Insurance. This insurance is specially for those people who are the residents of Schengen area. The Schengen area is made up of 26 countries including 3 microstates where travelers and residents can move freely from one state to another without a passport but it is mandatory to obtain visa to enter the Schengen area. When you choose Europe Assistance as your Schengen visa travel insurance provider, you will get the huge support of 750,000 expertise partners too. In the event of something wrong during travel you will be reimbursed properly all the medical expenses as well as you will get help from competent medical professionals at qualified medical centers, no matter where you are.

During stressful situations or emergencies abroad, you can feel comfort communicating in your native language in any of six languages such as English, French, Spanish, German, Russian and Chinese. Europe Assistance will always be there with you when such kind of situation occurs.

  • Asia Travel Insurance. Wherever you are going in Asia or even if you will be visiting multiple countries during your travel Asia travel insurance policies cover over fifty activities as standard such as follows:
  • Medical expenses and hospital benefit.
  • Delayed departure.
  • Abandoning your trip.
  • Failure of airline scheduled.
  • Loss of personal belongings and baggage.
  • Personal money and important documents such as passport, travel documents etc.
  • Legal expenses.
  • Cancelling and cutting short your holidays.

The reputation of travel insurance companies depends upon their own policies, coverage provided by the companies and their scopes.  Therefore, if you are going abroad or anywhere out from your home country do not forget to insure your travel with any of the best travel insurance company for the protection from unforeseen happenings. Before insure your travel, check their insurance policies and coverage limitations because all travel insurance companies do not have same policies, mind it. If you want to know about Travel Insurance For Every Need read here.

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