Since travelling is exciting and adventurous, many people do it as a hobby or leisure activity. Other people travel for business purposes and intermittently mix it with pleasure. Regardless of your reasons for travel, there are several principle elements which you ought to consider before you even begin your expedition. One of the prime aspects which are largely considered by most travellers is the insurance. Although travelling is quite enjoyable and exploratory, there are many risks associated with it. The fact that you are travelling to an unfamiliar destination makes you exceedingly susceptible to a wide range of risks. For instance, exploring a disease prone area makes you vulnerable to indigenous diseases while camping precariously makes you a potentially easy target to dangerous wild animals. Transportation itself is a risk too since you may be involved in an accident en route to your destination. It is therefore vital to protect yourself from such risks by getting covered with a comprehensive insurance cover which addresses all the potential risks.
The relevance and efficacy of your insurance depends on the type of covers you apply for and the company you apply to. There are many types of travel insurance covers offered by different companies. Each of the policies has its relevance and addresses certain risks. It is however advisable to only apply for your insurance from a reputable and respected company. Such companies usually have flexible insurance deals which are accommodating and affordable to a wide range of clients.
The aim of travel insurance is to prevent individuals from incurring significant financial loss should something untoward happen on their vacation. A good travel insurance policy can protect individuals from a broad range of situations from an accident in the hotel to the cancellation of a flight.
While travel insurance is not a legal requirement, whether you are going on a brief weekend trip or a two-week long vacation, it is always a good idea to take out this cover. In addition, travel insurance is relatively cheap, especially in comparison to the other facets of your vacation such as the flights and the accommodation.
Types of travel insurance
Travel insurance is typically available in two varieties: single trip and multi-trip.
- Single trip: as the name suggests, this type of insurance covers you for a single trip. If you do not travel regularly throughout the year, this is the best policy for you.
- Multi-trip: if you go on vacation more than twice a year, it will be more economical for you to purchase a multi-trip insurance policy. In addition, it will save you the hassle of having to take out a separate policy every time you decide to go on vacation.
Choosing the Best Travel Insurance
While there are only two main types of travel insurance, the cover which individual policies offer varies considerably. When you are purchasing a travel insurance policy be sure to divulge all relevant information as withholding this information may invalidate the policy. Such relevant information includes any pre-existing health conditions, such as asthma, or if you plan on partaking in any sports that could be potentially dangerous such as cliff-diving or skiing. In order to choose the best travel insurance for you, there are a number of factors that need to be taken into account:
- Maximum Compensation: different levels of cover tend to offer you varying amounts of maximum compensation for various complaints. If you are traveling with a number of expensive items or if your holiday was exceptionally expensive, you should make sure that your chosen policy will cover the full cost should something go wrong.
- Exclusions: If you plan on partaking in a certain sport whilst on holiday such as skiing, snowboarding or rock-climbing, normal travel insurance may not be enough for you as many policies do not cover these activities as they are seen as ‘high risk’. Nevertheless, it is possible to take out a travel insurance policy that is specifically tailored for these types of vacation.
- Look back period: this determines a pre-existing medical condition. Therefore, if there is a recent medical condition that you want your travel insurance to cover, you should pick a policy with a short look back period.
- Extras: many insurance policies allow you to pay a small fee to upgrade your policy so that it can cover other circumstances such as having an accident in a rental car.
Popular Travel Insurance Providers
|Provider||Plans Available||Maximum Medical Cover||Maximum Baggage Cover|
|$50,000 - $250,000||$1,000 - $ 1,500|
|$15,000 - $100,000||$2,500|
|$50,000 - $250,000||$1,500 - $2,000|
|$100,000||$500 - $2,500|