A good travel insurance policy covers almost all the hiccups happening in your travel like trip cancellations and delays, medical emergencies, stolen luggage, etc. Most of the overseas travel insurance policies are designed in such a way that the same covers all the financial losses happening either before or during the trip. In this blog, we will be discussing a few scenarios to understand the travel policy better.
During canceled trip
Many buyers opt for travel insurance just to cover their travel cancellation and subsequent financial losses. In this scenario, the policyholder will be able to get hold of all the non-refundable amounts. The trip cancellation may refund you almost 100% of the trip expenses. But you should fulfill any of the appended clauses to avail of this coverage and subsequent refund.
- Demise, bad health, an accident of you, a co-traveler or a family member in most cases, blood relation
- Bad weather preventing you to reach the destination
- A terrorist attack or threat leading to trip cancellation
Almost all the trip cancellation policies offer a “trip interruption” benefit. Trip interruption coverage starts the moment you begin your trip and it at times also covers the additional transportation charges which are used by to reach the destination early.
Please bear in mind that trip cancellation does not cover everything and if you want to cover fully, try “any reason cancellation” upgrade though the premium for this upgrade will be almost 40% high, you are entitled to a partial refund up to 75%.
Cancellation on medical emergency
If you get injured or sick during your overseas travel, many domestic insurance plans do not cover you for the loss. There are mainly two medical coverages for travel, which are “Emergency Medical” and “Medical Evacuation.”
Let us understand the difference between the two. In a medical emergency, you are entitled to receive reimbursement for all the medical expenses made to treat your injury or illness during travel. This includes doctor fees, ambulance charges etc.
Medical evacuation, on the other hand, helps you to get transported to the nearest hospital for the treatment in case of a medical emergency. It also manages you to reach home, in case it is determined by the physicians during the medical diagnosis.
Travel delay coverage
Travel insurance not only covers medical emergency and cancellation but also helps you in case of flight delays and missing connecting flights during your travel. The travel delay helps you get reimbursement for your accommodation and meals in case of delay happened which are beyond your control like in case of technical break down and bad weather etc. The same is the case with missed connecting flights where you are covered fully in case of mechanical breakdown or any other issues which are out of your control.
Lost or stolen luggage
This coverage helps you tackle with your lost, delayed or stolen luggage during the trip. For instance, if your luggage is delayed, you will get reimbursed for all the clothes and accessories you buy after 12-24 hours of delay. Please note that it will not reimburse the cost of actual items in the delayed luggage but you will surely get the 100% claim for the items if the baggage is lost or stolen.
Almost all the insurance companies have put a maximum ceiling for the reimbursement amount in case of lost or stolen baggage.
Things to remember
As now you have understood the usefulness of travel insurance, you should not forget to carry the papers and documents pertaining especially to the overseas travel insurance. Make your travel hassle-free with a good insurance policy that covers all your travel mishaps and subsequent losses.
