What Does Travel Insurance Cover?
It is so true that in this technology-driven, fast paced world, we are becoming increasingly disconnected from our relationships, nature, culture and even ourselves. This perception is what led “Experiential Travel” to become the travel trend of 2016. People today are not only visiting remote locations like tourists but are looking for ways to be a part of region, connecting with locals to tap into the native cultures.
In fact, according to an article published by Vogue, followed by experiential travel, “Transformative Travel” will be the travel trend people across the globe will follow in 2017. The article went on to say that adopting elements from experiential travel, transformative travel will be one step ahead, motivated and defined by a shift in perspective, self-reflection and development.
The one thing that is definite, that no matter where and how your travel to explore the world or yourself, your safety should be a priority. When you are in a foreign country, the risk of unexpected medical expenses, trip cancellations, evacuations, loss or delays of baggage looms large. This is why many countries have made it mandatory to have travel insurance in order to obtain a visa.
Here’s a look at some of the different types of coverage offered by travel insurance plans.
3 Basic Types of Travel Insurance Coverage
- Medical Emergencies:
Covering you for accidents and other medical emergencies and dental care while you are travelling abroad, medical expense coverage is a mandatory cover in all travel insurance policies.
- Cancelled or Interrupted Trips:
According to research published by AARP, 19% of travellers cancel their trip or change destinations when negative situations arise. Plane tickets, tour packages, hotel rooms, fishing boats, you’ve already paid for it all. What will happen to these pre-paid and non-refundable expenses if you need to cancel your trip? Trip Cancellation Coverage is here to the rescue. It reimburses you for pre-paid, non-refundable expenses if you need to cancel your trip before you depart due to sickness, injury or death, either of the policy holder, a family member or a travelling companion, and more. Similarly, trip interruption coverage will cover you while you are on your trip, including expenses incurred in returning home.
- Delayed Flights, Lost and Delayed Baggage:
Baggage coverage protects your personal belongings in case your luggage is stolen, lost or damaged during the trip. It also provides you money to buy essential items in case your baggage is delayed and till the time your baggage arrives. There might be situations where your flight gets delayed and you would need to spend the night in a hotel. Don’t worry, travel plans can reimburse you for those additional expenses as well.
However, the most important coverage a travel plan offers is Emergency Evacuation Coverage, where the expenses could be devastating for a traveller. The insurance pays for all expenses incurred during evacuation of the traveller due to medical emergencies and trip interruption due to other reasons, till they reach home.
The best travel insurance plan offers 24/7 assistance, along with the above mentioned coverage. Travel plans also offer optional coverage for hazardous activities, such as scuba diving and identity theft while travelling as well. Also, check whether the plan covers for losses due to a pre-existing medical conditions.