Travel insurance can give you extra protection if your holiday or business trip doesn’t go as planned. This is very important if you are travelling independently because you may find yourself stranded with no way to get home and no rep to help sort out your trip problem.
Travel Insurance policy provides 24 hours emergency medical assistance, personal accident cover, compensation for travel delay and loss of traveler’s property and other travel related contingencies arising during the trip. This policy is not a general health insurance policy.
The coverage is intended for use by the insured in the event of sudden and unexpected sickness or accident arising when the insured is outside of his or her home country.
This can either be done on inbound or outbound basis.
The most common risks that are covered by travel insurance plans are:
- Trip Cancellation or Interruption.
- Medical assistance.
- Evacuation Insurance.
- Baggage and Personal Items Loss.
- Trip delays.
- Lost or delayed baggage.
- Medical coverage and medical evacuation.
- Personal Accident – DEATH/PTD
- Emergency Medical Expenses and Emergency Medical Evacuation
- Emergency Dental Care
- Repatriation of Mortal Remains
- Hospital Benefits
- Loss of Checked Baggage
- Delayed Baggage – from US$50 per each 12 hour period of delay
- Personality Liability
- US$50 per each 24 hour period of detention
- Loss of Passport
- Cancellation and Curtailment
- Travel Delay
- War & Terrorism
How it works
It works quite similarly to other insurance policies in the following ways:
Travel insurance primarily works in a reimbursement structure. You will get reimbursed from the travel insurance company if they approve your claim. Purchase your travel insurance before anything actually happens to disrupt your trip.
You can cancel your travel insurance before using it if your trip was cancelled abruptly. Just let your insurer know that you won’t be travelling anymore.
Making a claim while you’re travelling
Make sure you take your insurance policy number and the emergency contact details away with you. This is so you know exactly who to speak to first if you have a problem and it can be dealt with as quickly as possible. If you’re travelling abroad, check you’ve got the right phone number.
Making a claim when you get home
If you need to make a claim on your travel insurance policy when you get home, check the following things before you send off your claim:
- you’re within the time limits for making a claim
- you’re covered for what you’re claiming for
- how much the excess is. The excess is the amount of money that your insurer will take off the claim. It may not be worth making a claim if the amount you’re claiming for is less than this
- the small print. Make sure there’s nothing in the terms and conditions that prevents you from claiming
- whether it’s a new for old policy. If it isn’t, the amount you get for items you’re claiming for will be less than the cost of replacing them. This is because the insurer takes off money for wear and tear.
Contact your agent as soon as possible and ask them to send you a claim form. They may be able to email this to you to speed things up. Complete the claim form carefully and keep a copy for yourself.
You’ll need to include copies of all paperwork that will help your claim, including receipts or medical certificates. You should also keep copies of the originals in case your claim is queried or refused.
Your agent may ask if you have other insurances that may cover the claim. You’ll need to let them know if you have other insurance that may also offer cover, for example, home or domestic package insurance.