What happens when you lose your baggage, or worse catch a bug and require immediate medical treatment, all in a foreign country? Apart from disrupting your itinerary, these conditions cost you a lot of money. It is during such circumstances that travel insurance comes in handy. It is an insurance that is specially designed to cover the medical expenses and financial and other losses incurred while traveling, either within one’s own country or internationally. It offers coverage for a variety of travelers, such as student travel, business travel, leisure travel, adventure travel, cruise and international travel. Common risks that are covered under travel insurance include medical expenses, emergency evacuation/ repatriation, trip cancellation/ interruption, accidental death, injury or disablement benefit, curtailment, delayed departure, baggage loss or theft, damage to personal possessions and money, and so on. Depending on the type of travel, insurance companies offer various types of travel insurance. Read on to the different types of travel insurance that promise to make your travel a secure one.
Different Types Of Travel Insurance
Single Trip Travel Insurance
Single trip travel insurance intends to cover you and your family for a single trip or holiday that you plan to travel. This insurance covers the basic trip cancellation/ interruption charges and medical travel insurance for the entire period of your travel. Some companies offer additional coverage at an elevated price.
Annual Travel Insurance or Multi-Trip Travel Insurance
Annual travel insurance benefits frequent fliers and travelers who make more than one holiday trip in a year. Some companies, however, restrict the number of days you travel for and the number of trips you make. These policies offer great discounts and other additional coverage, such as business cover, golf cover, winter holidaying and sport, and so on.
Extended Holiday Travel Insurance or Long Stay Travel Insurance
People who take long vacations or travel extensively benefit from long stay travel insurance. This insurance type covers travel duration of 3 to 18 months. It covers the traveler for accidents, lost or stolen possessions, travel delays or cancellations.
Medical Travel Insurance
This insurance policy covers health related problems that occur during the term of the policy and not already existing ailments. Hence, it becomes essential for the applicant to declare any pre-existing medical condition before traveling. In case of pre-existing ailments, there are separate packages covering such insurance.
Group Travel Insurance
Traveling in a group is great fun, be it a long vacation, pilgrimage, social club or any other group tour. Group travel insurance provides insurance for each member in the group. By opting for group travel insurance, every person is assured to be safe from mishaps that can occur during the travel.
Travel Insurance for Senior Citizens
People who are over 65 years of age and opt to tour the world during the retirement days can avail this type of travel insurance, which caters to their needs. Emergency repatriation back home in case of medical emergency is a must which needs to be covered under this package. Some companies also provide replacement costs in case of loss of any treasured items.
Travel Insurance When Pregnant
Pregnant women are offered specialized insurance cover by some companies. Before a pregnant woman travels, it is best to consult a doctor and have a pre natal check. Such women can travel up to 26 to 35 weeks of their pregnancy. Check with the insurance companies which weeks they cover and what is included in the plan.
Other Types Of Travel Insurance
- Business Travel Insurance
- Backpacker Travel Insurance
- Adventure/Hazardous Activities Insurance
- Ski And Winter Sports Travel Insurance
- Golf Travel Insurance
- Student Travel Insurance
- Cruise Travel Insurance
- Trip Cancellation or Interruption Insurance
- Emergency Travel Medical Insurance