Most of us pass off travel insurance as another unnecessary document to take care of. But in reality it can be of much more importance than we render to it. Frequent travellers would better understand the implications of missing baggage, lost bags, theft or something as fatal as an accident. During such circumstances travel insurance serves as a saving grace and almost like a first aid.
There are several categories of travel insurance largely depending on the duration of your stay and the trip destination. Majority of the travel insurance policies cover illness on travel, death, accidents, bankruptcy of the airline and even cancellation of the flight. The most commonly claimed insurance type however is the medical insurance while on travel. Such a policy gets you reimbursements for any medical bills, doctor’s fees and medicinal charges if you undergo any during your trip.
If you are still doubtful of buying travel insurance plans while travelling on a trip abroad, the following benefits will make you reconsider your thoughts
• Something as trivial as a missed departure(for specified reasons ) is covered under such policies and you can claim for the delay caused
• If there are any cancellations. any curtailments from the airlines end or even from any government. decisions, you tend to get a reimbursement for such an action
• There are different procedures for claims in different countries. For example Travel insurance (in) Australia frees you from any liabilities incurred during any emergency medical expenditure as the insurance provider makes payment on your behalf.Besides this most insurance policies also cover the cost of your returning to the home country after the medical treatment is over
• Any loss of baggage, theft of personal belongings, while you are travelling, can be claimed from the insurance provider and hence saves you from any losses. Though one needs to abide by the limit restrictions to the amount of valuables you can carry and more so the insurance providers reimburse you for a certain percentage of the value of loss incurred
• Any unfortunate incident where you end up in a court litigation and have to bear expenses, the insurance company offers you a claim on the same too
There is an array of insurance companies that offer lucrative deals on insurance, but before buying a policy you must ensure that following points
• Review your previous policies and plans; if you already have a travel cover then buying another policy is just some wasteful expenditure.
• It is important to consider the pros and cons of the different policies on the offing, before finalising one
• Research your options well basis the kind of trip you undertake (personal or business), no of travellers, length of stay etc.
When buying a travel insurance policy it is essential to go through all the terms and conditions of the policy to understand the kind of claims and the procedure well in advance. Ensure that the kind of insurance you want is offered without any alterations to it or else your money goes for a toss. Most importantly maintain all your paperwork and keep extra copies to help you in case of any emergency.