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GP: Types of Travel Insurance Coverage
GP: Types
of Travel Insurance Coverage
By now there’s simply no denying that
every traveler, especially those going abroad, needs travel insurance. It provides
security and protection from all sorts of unexpected situations during a trip. There are several types of travel
insurance packages being offered by different providers, ranging from basic to comprehensive
forms of coverage. To get value for money, it is the responsibility of every
traveler to understand each type of coverage, know the main differences of each
plan, and compare which provider and price is the best choice for a more secure
travel.
Travel
Medical Insurance
To start, travel medical insurance
should not be confused with general health insurance. This does not cover normal
consultations or visits to the doctor. Instead, it covers medical costs for any
medical emergency during travels. It may also cover pre-existing conditions. This
is often offered on its own and is a very affordable travel insurance package. You
may get this single package if you’re not worried about other non-medical
emergencies such as canceled flights, lost baggage, or delayed trips. It is
offered for single trips or at extended travel periods.
Medical Evacuation
(Medevac) Insurance
One that has a broader coverage than
Travel Medical Insurance is Medevac, or Medical Evacuation Insurance. This type
of plan covers the cost of emergency medical repatriation – returning someone
to their country, and emergency medical evacuation in the event of
hospitalization while traveling. This is arranged through the insurance
provider’s emergency assistance partner. This coverage usually comes with AD&D
(accidental death and dismemberment) evacuation and benefits.
Travel
Accident Insurance
A travel accident plan covers term life
benefits and international accident protection. This can be an addition to another
plan, opted by travelers who do not have any form of life insurance and would
want their beneficiaries (e.g. spouse and children) covered in case of accidental
death and dismemberment while traveling. Other insurance providers also call
this the flight travel insurance plan, which may come with repatriation
coverage.
Trip
Protection Insurance
This is the type of travel insurance
that covers non-medical travel emergencies. It usually includes the following:
Delay – covers flight delays
according to the provider’s minimum hours of delay and other terms. Depending
on the insurance provider, it may provide lump sum cash benefits, and/or accommodation
expenses per occurrence.
Cancellation/Interruption – for trip
cancellations due, but not limited to, bad weather, illness, denied boarding,
and civil commotion and/or strikes.
Loss – coverage for lost
travel documents or baggage, with equivalent benefit amount, according to the insured’s
type of plan.
There are also specific coverages you
can avail, such as a car/vehicle rental protection in the event of an accident
for the rental vehicle.
Comprehensive
Travel Insurance
This is the most commonly purchased type
of travel insurance package because it consists of all of the above plans. It
may even be customized according to the individual’s preference. A typical
comprehensive travel insurance plan includes baggage and travel documents loss,
medical and dental coverage, and trip cancellations, interruptions, and delays.
It is important to ask your provider if they cover pre-existing conditions, and
offer rental car, sports equipment, and roadside assistance coverage, if it
applies on your trip.
Annual
and Specialty Travel Insurance Plans
Opted by frequent travelers and traveling
families, it is a type of extended comprehensive travel insurance. Supplemental
benefits are added such as term life insurance, and car rentals, which provide more
security and peace of mind to those insured and their beneficiaries. No matter
which travel insurance package you choose, always read the fine print and
understand the terms and conditions that comes with it. Mindfulness and a
proper travel insurance are the keys to a safe and positive travel experience.
Author’s
Bio:
Josh Cornehell is a Social Media
Marketer at eCompareMo.com
focusing on improving the profits in the social media users. He is very passionate
and enjoys communicating people and talk about social media marketing strategy.
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