Why do you need Travel Insurance?
When you go on a trip there are many things that you need to plan, like where you should go, what you should pack, what are you supposed to do once you get there. However, no matter how well you do your planning; there are somethings on which you cannot have your control like and these are the exact things that travel insurance covers:
- Your flight may get cancelled.
- Your luggage may get lost, which may also be having your medicines or prescription in it.
- Your wallet and passport may go missing, and you may need a passport replacement and emergency cash.
- You may meet with an accident and do not get any medical attention.
- You may need to cancel your tour due to unavoidable circumstances.
- Your tour operator, airline or cruise line may become bankrupt. In such a case you will need the non-refundable costs covered and reach your destination.
- You may fall ill in a foreign land and need immediate medical attention.
- A natural disaster forces you to leave your hotel.
- A terrorist attack happens in the city you have planned to visit, forcing you to cancel your trip.
What are the different types of Travel Insurance?
Depending your unique circumstances there are different types of policies that you can choose from. The different circumstances may include the length of your trip, the people you will be travelling with, the activities that you will be performing while on the tour, etc.
Now let’s have a look at the different coverages that you can opt from:
Single Trip Travel Insurance
As the very name suggests, this policy covers you only for a single trip. You can use it for yourself or your family by buying it before you go on each trip. This can be expensive depending on how often and how many of you go on a tour.
Annual Multi Trip Travel Insurance
Under this you can travel as many times as you want for the particular span of time during which the policy is alive, which is possibly a period of 12 months. Hence, if you are a frequent traveler, this can be cheap for you.
Some users restrict the number of trips that you can have, while others do not have any such provisions.
Worldwide Travel Insurance
If you are planning to tour two or three continents then you may need this type of policy. You will not need this cover if you are willing to tour only Europe, but if you plan to tour Australia, America and New Zealand as well. Such a policy may be apt for a backpacking tour or a gap year, if it is bought as an annual policy.
Winter Sports Travel Insurance
This type of cover is needed if you are planning to go for a snowboarding, skiing, sledging trip, etc. This policy however, charges a high premium because it is extremely probable to get injured while being on such trips.
These are only a few main types of trips; there are several other types of insurance policies that you can pick and choose from. The idea is to have a travel policy, rather than touring around vulnerable to financial disasters. Insurance is mandatory while you rent a car as well.