Activity insurance can be described as the insurance that covers you against bodily injuries and baggage loss when you are engaged in any form of activity while travelling or otherwise. Usually it can be clubbed with a travel insurance for an extra premium and is a must for people planning to participate in adventure sports during their holidays.
Adventure Sports Risk and Activity Insurance
As you must have noticed, all adventure sports organizers need your signature on a declaration that states that the organizers will not be responsible in the event of any accident. Such a situation leaves you alone if an accident occurs. With adventure sports, there is a high probability of accidents, especially in activities such as sky diving or deep sea diving. Activity insurance in such cases provides financial cover in case of injuries and other liabilities.
Normal travel insurance does not cover activity accidents and claims made through such policies are rejected. You can buy activity insurance at a nominal price if you already have medical insurance.
Tips: Activity Insurance
Activity insurance can be easily purchased through the existing insurers. The following tips may also help:
· Read your medical insurance exception clauses: Many a times, policies exclude high risk activities, such as bungee jumping, sky diving, etc. In such cases, contact your insurer and ask them to give you the coverage for an additional payment.
· If you are part of a group organised tour, check whether activity insurance is included. If not, ask your travel agent to refer you to the best insurer.
· If you travel frequently to adventure sports destinations, consider getting permanent or annual activity insurance for yourself. This way you save money and a lot of time.
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Evaluate the amount of coverage required and stick to that. Do not buy a $200,000 cover when you will need just $100,000.
Activity insurance covers all medical emergencies arising during adventure sports activities, including hospital charges and loss of baggage or documents.
However, remember that since the risk involved in adventure sports is high, the premium is also higher than other types of insurance. Also, you need to be medically in good health to get activity insurance.