TRAVEL INSURANCE

 

 

 

 Why do you need Travel Insurance?


From the moment that you leave home, right up to the point you get back, you will remain protected thanks to travel insurance. Depending on your cover, you may even be protected before the holiday. And with a number of airlines going bust in recent years as a result of the recession, travel insurance will ensure you are covered in the case of your airline going bust.


Besides the conventional reasons of accidents, mishaps, illnesses etc, you will need travel insurance in case your conventional form of insurance does not work. In fact, although your medical and health insurance company may claim that you are covered in every way, you should read the fine print carefully. If you are stranded in a country in a bad condition, the last thing you need is to fork out additional costs for medical treatment.


Not only will you be covered for injuries, diseases, or illnesses whilst on holiday, travel insurance will protect your property against theft or damage in case you are travelling with luggage that is important or expensive. And with the average Brit taking over £1,000 worth of goods when going abroad, travel insurance is vital.


If you are travelling on the purpose of business, travel insurance can protect you from the loss you may incur as a result of transport that is late. For instance the losses you incur for not being able to make it to a venue in time owing to planes that are late. Even in cases of accidents, travel insurance can pay for the various costs incurred, such as hospitalization, transport or alternate accommodation. Think about global terrorism and attacks that may take place, at venues which seem unlikely. Though there is plenty of security today, there is always the risk of bad weather and natural disasters specific to a location.

 

The additional covers that you may need


For additional prices, you can avail of cover for few more situations, namely:

  • pre-existing medical conditions.
  • unconventional sports that have risks involved such as skiing or paragliding.
  • Travel to high risk countries such as terrorist nations or nations prone to natural calamities.

Travel insurance is your boarding pass to safety that will keep you and your family safe. So whether you are going out on vacation or on business, make sure that you have a competent travel insurance policy.

 

Who Needs Travel Insurance?


The majority of world travelers tend to be quite young and with youth there comes a certain sense of immortality. The idea of paying what seems like a large sum of money for something you cannot see—and most often will never use—can seem ridiculous to a young traveler. It is tempting to ignore this travel essential with the attitude that “youth is on your side.” This idea is a dangerous myth, however, as an accident or illness in a foreign country can affect anyone, regardless of age. If you don’t have any form of travel insurance, your life could be in danger, either literally or in terms of the financial damage the medical costs could inflict upon you.

 

What Should The Insurance Plan Cover?


Some final factors to consider before buying travel insurance include checking to see that the policy covers you for what you will be doing. Aside from winter sports, there are other sports that require a higher premium. And an important point for many will be whether you will be covered for manual labor. Many of us take part in various forms of manual labor when working or volunteering abroad and some companies don’t cover this. If you are in any doubt, contact the insurance company and ask them before you buy your policy.


You are obliged to declare any pre-existing ailments or medical conditions to the insurer. If they find any records of this after you have made a claim, your claim will become invalid. Specialist policies do exist for people who have suffered serious medical conditions previously. Don’t Forget to Read the SMALL PRINT!


Once you have bought your insurance, ALWAYS READ THE SMALL PRINT, no matter how tedious this job might be. If you know what to do in terms of your insurance company in case of an emergency, it could make a difference between making a valid claim or not. For example, many insurance companies won’t pay out if you don’t contact them before any medical treatment is given, or operations performed. Equally, if you don’t receive a valid police report within 24 hours of having something stolen from you, you will receive nothing. Having the insurance policy isn’t enough. You need to know how to use it.

 

Important Things to Remember That Could Make All the Difference


Now, you have your insurance policy that covers you for everything that you need, and you have arrived at your destination. As much as you should have fun on your trip, don’t assume that just because you do have travel insurance, it makes you invulnerable or able to take excessive risks. Any accidents caused by alcohol or drug abuse, no matter how small, will completely invalidate your claim so BE VERY CAREFUL. Alcohol and drug abuse in an unknown country is usually a very bad idea anyway as you are less aware of local risks, more vulnerable to attack, and penalties can be much higher than at home.


One final thing to remember is that once you have stepped onto that flight your chances of buying travel insurance for that particular trip are greatly diminished. Most insurers will only cover you if you buy the insurance before you leave. Some will provide insurance once you have already left but these are quite difficult to find.


And finally, don’t forget to take your insurance details with you wherever you go, otherwise they are useless! And where possible, make photocopies and leave them with a friend or family back home in case your gets stolen.


This article has still only offered the basic information regarding travel insurance and hasn’t even begin to discuss what happens with regard to terrorism, mugging, hijacking, and legal matters. But these are events that happen so rarely that it's really up to the traveler to decide how important all of that coverage is.