The Importance of Securing the Correct Travel Insurance

Traveling with the family is one of the most keenly anticipated events for anyone who wants to get a much-needed break. The same event may turn out to be a taxing experience if family members are not insured sufficiently. This is where the travel insurance comes into the picture. Travel insurance is extremely important for those going on a travel, particularly those going on a long distance air or ship travel. Travel insurance provides a number of features, which covers the traveling family from unforeseen happenings during the trip. Travel insurance will ensure that the family gets to enjoy their trip whole heartedly without worrying about the various minor external factors.

Your insurance covers the traveler from various unforeseen events such as trip cancellation due to various unforeseen events including ill health, weather conditions and airline strikes. In the case of accidental death of the traveler, the family will be compensated with the insured amount. There are occasions when the traveling family has to but accommodation, food and clothing due to flight delays. In such instances, the insured person will be able to get the amount reimbursed. Travel insurance also compensates the traveler for any damages done to their personal baggage and also if the baggage gets lost. Medical insurance protects the travelers from expenses incurred on treatments received for any ailment during the vacation stay in a foreign land. These are some of the unexpected events that can be managed by taking travel insurance.

Before starting the trip, one might question the need for any insurance, as all the events are unforeseen, which may occur or may not occur. But since the family is traveling to a foreign land, chances of unforeseen events are relatively high. To cover against the negative effects of these events, one needs to be sufficiently covered. There are many public and private insurance companies, which provide travel insurance protection packages for the traveling public. There are online informational web sites, which can be used to compare the insurance premium that one needs to pay for getting coverage. These web sites compare the premiums charged by various companies and provide it to the user, after the user provides the necessary information such as the period of travel and number of members traveling.

It is extremely important for a traveler to insure himself/herself and also the family members when going on a long out of the country vacation.

What is the Difference Between Travel Insurance and Trip Insurance?

Many times I have had clients ask me, when should I purchase Trip or Travel Medical Insurance. What’s the difference?

There are, of course, major differences that is why they are normally purchased for different reasons. Understand that the Benefit descriptions here are really short so be sure and read the full Benefit information of any plan before you decide that it’s the one for you.

Trip Cancellation: When your trip is cancelled due to reasons out of your control.

  • Trip Insurance: Payment is based on the cost of your trip, typically up to $20,000
  • Travel Insurance: No Benefit

Trip Interruption: When your trip is cancelled due to reasons out of your control.

  • Trip Insurance: Payment is based on the cost of your trip – usually the amount of your trip
  • Travel Insurance: Pays to return you to your area of principle residence up to some amount, typically $5,000

Travel Delay: Lost or stolen passport travel documents, or money medical quarantine natural disaster your injury or illness or that of your travel companion

  • Trip Insurance: Up to $500 per insured person
  • Travel Insurance: No Benefit

Baggage and Personal Possessions: Damage to, loss of, or theft of your checked or stored baggage by a common carrier

  • Trip Insurance: Also while stored with your hotel. Typically will pay up to $1,000 per person
  • Travel Insurance: Usually pays much less per person maximum

Baggage Delay

  • Trip Insurance: Will pay some amount typically up to $100
  • Travel Insurance: No Benefit

Emergency Medical/Dental Expenses

  • Trip Insurance: Up to some specified amount usually something like $10,000
  • Travel Insurance: Up to policy maximum

Emergency Medical Evacuation/Repatriation: Reasonable expenses for evacuation to the nearest adequate medical facility

  • Trip Insurance: Typically up to $20,000
  • Travel Insurance: Up to a much higher amount than trip insurance, something like $500,000

Emergency Reunion or Return of Mortal Remains: Will pay for return of dependent child or grandchildren, transportation and lodging for a family member to be at your bedside

  • Trip Ins.: Typically will pay up to $3,000
  • Travel Ins.: Will pay typically up to $50,000, much higher than trip insurance

Common Carrier AD&D

  • Trip Insurance: Up to some specified amount typically $100,000 per person
  • Travel Insurance: Up to some specified amount typically $50,000 per person with a maximum of $250,000 per family

What does all of this really mean? Well, it looks like the Insurance specifically designed to protect your Trip investment (airline tickets, cruise tickets, hotel costs, etc) is better than Travel Medical Insurance which doesn’t cover any of this.

If you are concerned about your $5,000 investment in your vacation this summer you can purchase Trip protection for approx 4%(based on age of 0-49) of the cost. That’s $200 to protect our investment, not a bad deal.

At the same time if your trip is delayed you have some protection against that too. Really handy for things like Iceland volcanos, earthquakes, airline worker strikes or sudden outbreaks of terror activities in the country you had planned on visiting. For these 3 possibilities, trip cancellation and trip delay protection is well worth the money.

However, remember that Trip Insurance, like all insurance, must be purchased prior to something happening, so it’s best to get it quickly after paying for you trip.

International Travel Insurance For Comfortable Travel

International travel insurance has been a catch phrase for people who have taken trips abroad and have visited different places across the globe. All the trips of people have normally been accompanied with travel insurance to cover the said trip and protect the individual. But the question remains as to what these travel insurance policies really are and if these are truly justified with the welfare of the traveler.

As a matter of course, these insurance policies are very important to say the least. There are explanations of course, as to why such insurance is very important to the tourist or the traveler. It is worthy to note of several reasons in making the acquisition of travel insurance an important exercise.

When it comes to international travel insurance, there are many choices and alternatives to take. There is an inventory of choices for you to take and there are different plans which may be tailor fit to suit your requirements and cover you for any accident which may happen in the course of your traveling. There are basically four types of insurance coverage terms.

1) Emergency medical insurance. This provides full coverage for diagnosis and medical attention to an injury or illness which happens during travel.

2) Trip interruption or cancellation. The reasons for trip cancellation are varied and may range within the following reasons: illness, forfeiture of assets, traffic accident along the way, termination from employment, crime, terrorist attack, inclement weather, strike, or other civic duties.

3) Misplaced luggage insurance. This insurance answers the costs of lost, stolen, damaged or delayed luggage for more than 12 hours against personal items and expenses.

4) Trip accident coverage. This basically provides insurance coverage during your flights abroad.

You should take extra care to plan ahead and prepare enough for you and your family when considering which worldwide travel insurance to take. While opting not to take insurance for yourself, it is best to realize that saving a few dollars might not be worth it compared to the potential risk you take when you do not have a comprehensive insurance coverage.

For a minuscule amount of money, you can afford good and adequate protection for you and your family with travel insurance for any unforeseen circumstance or emergency situation. It is better to be insured comprehensively, with provisions for insurance that is wide-ranging, from delayed luggage to flight cancellation. Remember that the few dollars you save from not getting insurance may not be worth the risk you are exposing yourself.

Similar to other insurance coverage policies, the travel insurance functions by taking into consideration all the possible risks and untoward circumstances which may happen to you and your family. While the insurer would present you with the different insurance coverage proposals, it is up to you to select which program or coverage would best suit your needs.