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Choosing your Type of Travel Insurance

Before leaving for a trip we usually plan all aspects of our travel, consider various travel options, schedule the itinerary, pack all the necessary things, make all kinds of arrangements and do our best to make sure nothing is missed. However, any vacation or a trip may be ruined by some natural disaster, sudden illness, accidents, robbery, or any other event of similar kind. A travel insurance policy provides financial protection and peace of mind in the event of an accident, illness, loss of property, or other unforeseen circumstances. Travel Insurance can cover cancelled or delayed flights, loss of luggage, personal belongings such as passports and money, repatriation costs, damage that you may cause to third parties, etc. Travel Insurance will enable you to deal with these situations without losing your travel investment.

Carefully consider the types of Travel Insurance in order to purchase an adequate coverage without overpaying or paying for something you won't need. You may choose between a number of types of Travel Insurance packages, covering different areas:

Cancellation

The money you invested in your travel will be reimbursed if you have to cancel your trip due to the illness or death in your family or another valid reason listed in the insurance policy.

Travel Curtailment

In case you or a member of your family gets seriously injured or sick during a trip, insurance companies must compensate you the unused part of your vacation.

Delays

This type of Travel Insurance will compensate for missed departures and lluggage delays in case when the delay exceeds a certain amount of time.

Medical Expenses

Treatment in a foreign country may cost thousands of dollars. If you are unfortunate to be involved in an accident while on holiday, you may have to pay for expensive medical treatment, and incur substantial additional accommodation or travel costs. Your travel insurance policy should include coverage against such accidents. Emergency evacuation can be very helpful for those who are traveling to remote places. Most Travel Insurance policies would compensate some part for each day of hospitalization up to the maximum limit listed in their packages.

Accidental Death Insurance

Your policy may compensate you for permanent or temporary disablement or accident death during the travel.

Personal Belongings

This type will cover your possessions against damage or loss within limits stated under your policy.

Personal Liability

This type provides you with coverage if you cause injury or damage to other people or their property. In the event you need to take legal action against a third party, your policy may offer a separate legal expenses coverage.

Supplier Default

This insurance will protect you from problems with the travel agency you might face and help you out if your agent or travel company goes out of business or fails to provide the services you have purchased.

Forms of Travel Insurance are also diverse:

Single Trip

This form of Travel Insurance is meant for those who do not travel often and need coverage for a specific trip.

Annual or Multi-trip Travel Insurance

This is a cost effective option for those who take more than one trip each year. Annual policies cover unlimited trips of the insured made during the entire year provided each trip does not exceed a certain number of days (usually 90 days).

Family

This option is ideal for those traveling with kids or their parents. In this case you don't have to purchase separate travel insurance policies for each member of the family.

Besides basic types of Travel Insurance there is a variety of specialized travel insurance products available. They have been designed to meet the needs of such groups of travelers as business travelers, athletes and expatriates. There are even Travel Insurance policies combining business and leisure policies for trips which might include both business-related activities and leisure time.

Travel Insurance policies for business travelers may cover registration or vendor fees for conferences or trade shows. Some business travel insurance may be available for groups. Extreme sport insurance provides necessary coverage for those participating in dangerous activities, such as base jumping, deep sea diving, skiing or other hazardous sports and activities. Expatriate insurance covers those who are living abroad on a long-term basis.

Regardless of where you choose to purchase the type of Travel Insurance most appropriate for your situation, you should be well aware of your coverage and any limitations. Make sure you know who and what is covered under your policy. For example, since some policies tend to cover only immediate family members, it is important to find out whether your travel companions qualify.

If you or your family members have any problems with health, it is necessary to inform your insurer of any medical conditions you have. First of all, it will ensure that in case of emergency you will be treated right. Secondly, non-disclosure may result in non-payment of a claim. Remember that Travel Insurance does not belong to some miracle cure and doesn't cancel caution and common sense. It remains your own responsibility to take due care of your personal belongings. So, important documents should be kept in the hotel safe, and valuable items should not be left in your car. Take along your insurance documents and contact numbers on your travel. Keep the bills and receipts for any medical treatment or replacement items that you may need to purchase.



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