Travel Insurance
About Travel Insurance
Travel insurance is intended to cover medical expenses, financial and other losses incurred while traveling, either within one's own country, or internationally.
Travel insurance can be arranged at the time of booking a trip to cover exactly the duration of that trip or alternativly a more extensive, continuous insurance can be purchased from travel insurance companies, travel agents or directly from travel suppliers such as cruiselines or tour operators. However, travel insurance purchased from travel suppliers tends to be less inclusive than insurance offered by insurance companies.
Travel insurance offers coverage for a variety of people such as Students, businesspersons, leisure travellers, adventure travellers, cruise travellers, and international travellers are all various options that can be insured.
The most common risks that are covered by travel insurance are:
- Medical expenses
- Emergency evacuation/repatriation
- Overseas funeral expenses
- Accidental death, injury or disablement benefit
- Cancellation
- Curtailment
- Delayed departure
- Loss, theft or damage to personal possessions and money (including travel documents)
- Delayed baggage (and emergency replacement of essential items)
- Legal assistance
- Personal liability and rental car damage excess
Types of Travel Insurance
There are two types of travel insurance policy, and both appeal to different types of people:
- Annual multi-trip travel insurance.
This covers all trips during a year for a one-off fee, within a set maximum number of days away (usually between 30 and 60). Trips are mostly defined as business or travel overseas (even a day trip), or more than two consecutive nights away in the UK at prepaid accommodation starting the moment you leave until the moment you return.
Winter sports could be included, usually for a number of days, though do check it covers equipment and any more unusual sporting pursuits.
- Single trip travel insurance.
This has been given a bad name over the years due to over-charging travel agents’ policies. But if you choose it right it can be good value, just a few pounds for a week away.