Travel Insurance - You Need It!
A Insurance Article Contributed by Vivek Kumar Singhal
Do You Really Need Travel Insurance?
Going on a trip? Be sure to get your travel insurance. Picture this -- You may be traveling for business or for pleasure. All is going as planned but on the arrival of your destination you discover to your horror that your baggage is missing. All your important documents, clothes (including your favorite Versace suit -- sob sob), shopping worth hundreds of dollars and so on are now all lost. For all you know they may be in Timbuktu!
If only you had listened to your travel agent and got that travel insurance policy, the damages suffered by you would have been taken care of! It is in situations like these that travel insurance can be a real life saver. Not to mention in times of medical emergencies!
What Kinds of Travel Insurance are Available
Travel insurance is generally based upon the coverage you want. There are basically three types of coverage:
1. Single Trip travel insurance coverage:
This insurance policy, as the name states, is the most basic type of travel insurance policy, covering you for a typical holiday or business trip that lasts a few weeks or less. This coverage is the cheapest kind of policy to buy.
2. Annual Multi-Trip travel insurance coverage:
This insurance coverage is intended for those who are frequent travelers. This is a reasonably priced policy that will cover you on innumerable trips that you make during the year.
3. Long Term/Backpacker travel insurance coverage:
This insurance coverage is exceptionally good if you are planning to be away for long periods which may range between two to twelve months or more.
Backpacker travel insurance coverage which covers medical evacuation is a good policy for those who travel to high risk areas. For instance if you are trekking in Switzerland and accidentally slip and fall then medical evacuation, although a slightly expensive option, would be a life saver indeed.
However it is pertinent to read the insurance policy carefully before purchasing it. All the above stated travel insurance policies may have similar benefits such as Trip Cancellation, Emergency Medical Evacuation Insurance and other such benefits, but with varying price differences.
Pros and Cons of Travel Insurance
Before shopping for any travel insurance policy, you must compare prices of various travel insurance policies, scrutinizing with authentic care. Weighting all the pros and cons of the various policies may help in deciding the right travel insurance policy that best suits your travel needs.
There are few things that you should consider when opting for travel insurance:
1. What's the level of coverage for different types of claim you would like to make?
2. What are the policy exclusions that will not be covered and you will not be allowed to make a claim for them?
3. Ask whether you are covered for hazardous pursuits, like skiing or diving?
4. Try to find out if you are covered in case you cancel your holiday, and in what specific circumstances?
5. Try to ask if the medical cover includes in times of emergency, the costs of transporting you back to your home country?
6. Note that if you are going to USA or Europe, where medical bills are higher, is the level of medical cover sufficient?
7. What's your personal possessions and cash covered up to in the policy?
8. Try to check whether you need to cover expensive items, like video cameras, separately?
Travel agents may try and push you to opt for their travel insurance even if you are not very optimistic of its validity: try to shop around first, get lots of quotes, and then choose the travel insurance policy which offers you peace of mind no matter what calamity may strike your way!
