Travel Insurance

We all love to travel, it is one of lifes great pleasures. Exploring the world discovering new and exciting destinations is there anything better? Most put alot of thought into where they are going, what tours they will do, what they want to see, where they will stay and how much they will need for their holiday. All would agree all this is important, but you should not overlook one of the most important parts of your trip and that is Travel Insurance.

It is important do your research and compare different companies and their inclusions. Here is a list of important factors that are a must for the travel insurance policy to include

1. Epidemic coverage

It’s the number-one question on many travelers’ minds: Does travel insurance cover COVID-19-related losses? However, most Insurance plans these days now include the Epidemic coverage, which adds covered reasons to select benefits for certain losses related to COVID-19 and any future epidemic.

Given the unpredictability of travel in the COVID-19 era, this is a must-have. Plans with the Epidemic Coverage may include epidemic-related reasons under some or all of the following benefits:

• Trip cancellation, if for example you must cancel your trip after being diagnosed with COVID-19.
• Trip interruption, if for example you get sick during your trip, or if you are specifically named and individually ordered to quarantine (this does not include generally or broadly applicable quarantines).
• Travel delay, if for example you are denied boarding based on a suspicion that you are ill with an epidemic disease such as COVID-19.
• Emergency medical care, if for example you are diagnosed with COVID-19 and need to be hospitalized while traveling.

It’s important to read your plan carefully, so you understand what can be covered.

2. Pre-departure benefits

What are pre-departure benefits? This means travel insurance protection that applies before you leave for your trip — specifically, trip cancelation benefits. These benefits can reimburse you for pre-paid, nonrefundable trip costs if you must cancel your trip last-minute for a covered reason.

You definitely need this protection if any part of your planned trip is non-refundable, such as airfare, cruise fare, tours, hotels, and/or vacation rental costs. Check the fine print when you purchase travel, so you know which costs you’ll need to protect.

You may not need trip cancellation benefits if:

• Your trip is fully refundable up until your departure date
• Someone else is paying for your trip, so you have no pre-paid costs
• Your travel plans are open-ended, with few pre-paid costs

3. Post-departure benefits

What are post-departure benefits? This protection kicks in once you’ve officially begun your trip. Post-departure benefits can include:

Travel Delay

Baggage loss or Damage

Baggage delay

Emergency Medical and Dental Benefits

Emergency Transportation Benefits

Change Fees

The benefits you need depend on the type of trip you’re taking. Heading overseas? Then you definitely need emergency medical, because many medical facilities in other countries require cash payment up front and do not accept foreign insurance plans.

4. Protection for children

If your child gets sick or injured while you’re traveling, emergency medical benefits can ensure they get high-quality care and can cover the cost of medical treatment. Ensure that your policy has cover kids 17 and under for free when traveling with a parent or grandparent.

5. Pre-existing medical condition coverage

A pre-existing condition is an injury, illness, or medical condition that, within the 120 days prior to and including the day you buy your plan:

1. Caused a person to seek medical examination, diagnosis, care, or treatment by a doctor;
2. Presented symptoms; or
3. Required a person to take medication prescribed by a doctor (unless the condition or symptoms are controlled by that prescription, and the prescription has not changed).

Travel insurance plans can cover losses related to pre-existing conditions as long as you meet the requirements, and being medically able to travel on the day you purchase your plan.

6. Maximum trip length

Thinking about becoming a digital nomad and wandering long term? When you’re buying travel insurance, be sure to look for a plan with a generous maximum trip length. Some companies have plans up to 6 months.

7. Coverage exclusions

When shopping for a travel insurance plan, most people only consider the benefits — but it’s also important to look at what’s excluded! Exclusions are situations and circumstances in which your travel insurance will not provide reimbursement for any losses. A few key exclusions include:

• Any loss, condition, or event that was known, foreseeable, intended, or expected when your plan was purchased.
• Normal pregnancy or childbirth, except as specifically covered under Trip Cancellation. 
• The use or abuse of alcohol or drugs
• Participating in extreme, high-risk sports and activities

Make sure you read through the exclusions when you’re buying travel insurance. You might think, “Oh, those don’t apply to me — I’m not an extreme-sports type of person.” But maybe you’re planning to run a 5K while on vacation — and you should know that losses related to participating in sports competitions aren’t covered.

8. Cost

Whether you’re heading to a luxury resort or a no-frills cabin, the cost of travel insurance is a major factor to consider. You want to be well protected… but you don’t want to stretch your travel budget to the breaking point.

9. Loss of Luggage

Definition: Your baggage is lost, damaged or stolen while you’re traveling. Travel insurance can reimburse you for the actual price, actual cash value, repair or replacement — whichever is less, based on the limits in your insurance policy’s letter of confirmation. To be eligible for this benefit, you must take reasonable steps to keep your baggage safe and recover it, as well as file a report with the appropriate authorities with all the needed details outlined in your policy. This is also the case for personal belonggings such as cameras, phones and jewellery.

Tip

People 65 and up can often save by choosing an annual plan. Unlike single-trip insurance plans, which cost more for older travelers, the price of a multi-trip plan is not affected by the traveler’s age.

As you can see travel Insurance is an important part of you vacation. Shop around for the best policy and make sure it covers all your travel needs.