7 Things You Should Know about Travel Insurance
Nowadays, travel insurance has become more and more important. This is not surprising, considering lots of people are traveling for holiday and business trips. However, unlike other types of insurance, insurance for travel is not that well-known. To help you better understand it, we will give you things you need to know about this type of insurance.
1. It May Cover Pre-Existing Conditions
Unlike lots of health insurance policies, pre-existing conditions may not prevent you from purchasing a travel insurance policy. Depending on the insurance company, the policy may cover a minor or major pre-existing condition. To know whether or not an insurance policy covers pre-existing conditions, you will need to disclose all of your health issues during the purchase.
2. Coverage In Case of Interrupted or Cancelled Trip
The insurance is mainly designed for medical emergencies. However, non-medical insurance packages are also available. This kind of insurance package usually cover things such as trip interruption, trip cancellation, loss of baggage, damage, and flight accidents, among others. For instance, your trip is canceled or interrupted due to natural disasters. In this situation, you will get reimbursement.
3. You Can Reduce the Cost If You Travel Regularly
That’s correct. This type of insurance needs not be single-serving. If you are travel regularly outside your domicile province or country at least more than twice in a year, you can reduce the cost of the insurance by choosing the multi-trip annual plan. This plan is less expensive than the single-trip plan, an ideal choice if you travel regularly.
4. Factors that Affect the Cost of the Insurance
The cost of the insurance depends on many factors. Factors such as age, the length of the trip, the cost of the trip, the insurance plan, and the limit of the coverage will affect the total cost of insurance. That said, in general insurance plans usually cost about 4% to 8% of the total cost of the trip.
5. Coverage for Short Trips
Your trips don’t have to be lengthy to get coverage from travel insurance policy. Some insurance companies offer insurance benefits for short trips, including a trip with no more than four days duration. This means that you can get the benefits of the insurance and its coverage without having to pay more than you need.
6. Extending the Insurance
Suppose you have to extend your trip. Yet, your insurance doesn’t last that long. Well, no need to panic. There are insurance companies that offer plan extension. Do keep in mind that the extension is usually offered for the single-trip insurance plan. So if you want a multi-trip insurance plan, ask whether or not you can extend it before purchasing.
7. In Case of Delay, It Can Temporarily Cover Your Living Expenses
Sometimes, you will face a delay in your trip. If you are insured and face a delay for your return, the insurance may cover your living expenses during the delay. Usually, things that are covered include meals, hotel accommodations, telephone charges, rental car fees, taxi fares, and internet usage fees. The amount of the coverage depends on the insurance plan.