Travel Insurance is an insurance that covers the losses occurred during traveling, financial, and medical costs within the native country or international.
The temporary travel insurance can be arranged from the time of reservation of a trip and it approximately covers the time of the trip. The continuous insurance can be bought from the travel agents or travel insurance companies or tour arrangers etc. The travel insurance bought from travel insurance companies are very effective than the insurance provided by travel suppliers.
Types of travel insurance coverage :
There are different types of insurance coverage options to the travelers namely,
- Business Travel.
- Student Travel.
- Adventure Travel.
- Leisure Travel.
- Cruise Travel.
- International Travel.
Coverage types of travel insurance:
In travel insurance, there are some common risks covered. It includes:
- Expenses of medical,
- Return of child below the age of 18 (Minor),
- Cancellation of trip,
- Emergency return,
- Injury or death of an accident,
- Delayed luggage,
- Late Departure,
- Expenses of abroad funeral,
- Theft or loss of money and important documents,
- Extreme damage of rental car, and
- Law permitted assistance.
Optional or Additional coverage offered:
Some other travel company policies offer additional costs for additional coverage options. However the options can change according to the insurance providers. They are:
- Pre – Existing conditions in medical such as diabetes, asthma etc.
- Risk sport activities,
- Added coverage of AD&D,
- Kidnap Insurance, and
- High risk travel to overseas.
Commonly excluding coverage:
- Pre – Existing Conditions,
- Illness or injury occurred due to the use of drugs or alcohol, and
- Some policies cover only travel during war and some policies cover terrorism.
The travel insurance for the time of travel costs exactly 5% to 7% of a trip. Nowadays, the travel insurance companies also provide 24×7 helpful and useful services. The travel insurance also includes the expenses made due to pregnancy.