Are you travelling by plane or a cruise ship and afraid of some accidents or loss to your baggage? Then you need a travel insurance policy. If you also fear flight cancellation or kidnapping during your trip, then travel insurance would be advisable to protect you. Travel insurance is often a necessity if you are a frequent traveller. So what then is travel insurance?
What is Travel Insurance?
Travel insurance or traveller’s insurance is the insurance policy that protects travellers from losses associated with travelling. It is designed for people who travel locally within the country and outside the country. The policy is often sold by insurance companies and travel agencies that package tours for vacationers.
Travel Protection offered by Travel Insurance
Travel insurance offers many benefits and these include protections against flight cancellations, damage to rented cars, loss of personal baggage, accidental death, kidnap ransom, illness, loss of travel documents, and cash-wire assistance among others. Let’s break these down:
Flight cancellations: This policy protects you if you lose business because your airline cancelled your flight, or even delayed it. Your insurance company will reimburse you for the cost of the flight if you had paid a non-refundable fee for the flight or even booked for hotel reservations. You may also be reimbursed if you cancelled the flight due to sudden illness, loss of a family member, or weather-related issues.
Damage to rented cars: If you rented a car for a trip and the car gets damaged or stolen during your trip, you may qualify for reimbursement from your insurance company. They may also pay you back if you repaired the car.
Loss of personal property: Did you lose your baggage during the trip or did it get stolen? Your insurer may reimburse you for the loss of the property if the loss was not your fault and unforeseen. Maybe you were the victim of a robbery attack in a foreign city or country or your hotel was burgled, your insurer will reimburse you for your loss.
Illness and accidental death: If you suddenly fall ill during a trip to a foreign country or city, your insurance company may be responsible for your medical treatment and hospitalization. They may even arrange emergency evacuation to bring you back home for better medical attention. And if you suffer a loss of life from accidents during your trip, your insurance company will cover the expenses of your death.
Loss of travel documents and cash: Are you stranded in a foreign country because you ran out of cash or you lost your travel documents? Your insurance company may be able to assist. Your insurer may help with acquiring another travel visa or sending cash to you via wire transfer if you become critically stranded at your destination.
Payment of kidnap ransom: If you get kidnapped in a foreign country, your insurance company may pay to secure your release if this is covered under your policy. They may collaborate with the local police to negotiate your release and get you back home.
Read the fine prints
It must be noted that the fine prints of your policy should be read and understood before you sign the travel insurance policy so that you are certain of what protections are in place for you if unforeseen events happen to you far away from home. You must consider a traveller’s insurance if you travel frequently with lots of baggage or goods.
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