Some of the core fields in travel insurance include trip cancellation, trip interruption, emergency evacuation, accidental death and loss or damage to baggage or personal effects. Millions of dollars go into the dump each year by travelers who spend it on purchasing unnecessary travel insurance or travel assistance policies. You should make sure that the terms and exclusions of any travel insurance or travel assistance policies are correct before purchasing them even if they are valuable to travelers in limited circumstances.
Your requirement should complement your need for insurance. Bundling several types of insurance forms a basis for comprehensive travel insurance. Reviewing this chapter and doing comparison shopping will help you to choose a good travel insurance if you decide to buy any.
Decide on the type of travel insurance after analyzing the type of coverage you already possess. Take into consideration the following facts in particular. Whether it is homeowner’s or renter’s insurance policy, all of them will provide liability or baggage and personal property protection while you are travelling.
Always make sure that you check specific limitations and exclusions of your health insurance policy apart from getting some coverage. If you possess an automobile insurance policy then you can get cover for a rental car as well. In some cases your credit card can offer some protection when you rent a car or if you want to cancel or change your flight.
Many travel insurance policies provide what is known as excess or secondary coverage. Amounts such as deductible can cause travel insurance to provide coverage for the loss such as homeowner’s insurance if your personal property is stolen provided any other coverage is being applied to the loss first. If it is not possible for you to pay deductibles owning to it’s high price or if your own coverage is insufficient, then you may avail primary coverage offered by some travel insurance policies. The premium paid by you for primary coverage is generally higher than for excess coverage.
As travelers don’t learn about the exclusions given in travel insurance policy unless they don’t use the coverage, this becomes a drawback for travel insurance. Whenever you review a travel insurance policy, check the exclusions and definitions carefully to determine how much protection the policy really offers. As trip cancellation and trip interruption have the capability to cover losses which may not be covered by any other insurance which you may already have therefore they are considered to be the most important types of travel insurance.
In terms of protection, trip cancellation and trip interruption insurance are different although you cannot deny the fact that they are closely related. In an unlikely event of trip cancellation, trip cancellation insurance gives you coverage and reimburses you for any prepaid, nonrefundable expenses such as an airline ticket or cruise cabin that you cannot use because you had to cancel your trip. Cutting short of your trip or any change in the trip plan will cause you to get covered by trip interruption insurance durin your trip. Trip cancellation insurance applies only when the following three things occur which are based on the variation in exact terms of the policy where the policy is expected to reimburse you for nonrefundable ad prepaid trip expenses. If you are forced to cancel your prearranged trip, because of an unforeseen accident, illness or other specified event and when something affects you, a close family member or your traveling companion. Trip cancellation insurance is applicable before your departure.
Make it a point to assure yourself that any trip cancellation insurance you purchase covers you while you are en route from your home to your departure point. In the same manner, trip cancellation policies expire when there is possibility of occurrence of last time crisis. It is highly recommended that you confirm that you are covered during the entire period of time before your departure in case you buy cancellation insurance.
