Travel Insurance Directory
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
When you travel out of your country, you need a safety net to pull you out of financial difficulties or tensions. This is why more and more people opt for annual travel insurance.
Annual travel insurance becomes useful when you require unexpected emergency treatment or medical assistance. Coverage may vary widely based on the level of cover you decide to opt for and the company you take your policy with.
When you travel out of your country, you need a safety net to pull you out of financial difficulties or tensions. This is why more and more people opt for annual travel insurance.
Annual travel insurance becomes useful when you require unexpected emergency treatment or medical assistance. Coverage may vary widely based on the level of cover you decide to opt for and the company you take your policy with.
Areas that may be covered by annual travel insurance cover include cost of treatment, medical emergencies, legal assistance, cancellations, and loss or damage to belongings. However, it is meant to cover all the trips by the policyholder(s) for that year.
Some insurance companies may impose restrictions on the time period of annual travel. A maximum number of days like 180 days of travel maybe imposed but that depends on the insurance company. The premium paid for annual travel insurance is usually based on the time span of each travel.
Table of Contents
Essential Cover under Annual Travel Insurance
Here is what an annual travel insurance plan usually covers:
- Medical expenses incurred during travel.
- Cancellation, disruption of travel or emergency repatriation due to unforeseen circumstances.
- Theft of baggage or other costly equipments such as laptops.
- Personal liability faced by the policyholder during trip.
- In case you lose your passport.
How to Choose an Annual Travel Insurance Policy?
Some plans cover either a travel protection policy or a travel healthcare scheme. There are plans which cater exclusively to residents of a particular country only while other plans are open at a global level. Individuals and families are offered different travel insurance plans.
Here are some factors to consider while selecting an annual travel insurance policy:
- Cost is important as different service providers have varied offers based on the scope of the policy and amount of cover.
- Opt for a policy that includes medical assistance while you are on tour. An emergency medical aid abroad may require large sums of money. Again, individual should check that the policy covers pre-existing medical ailment.
- Insurance companies may exclude travel to countries which are forbidden due to reasons such like terrorism, epidemics, and violence. Search for such countries in the official travel advisory book.
- Look for policy that fully or partially covers legal expenses or liabilities incurred during a foreign trip.
Annual travel insurance plans will ensure that you enjoy cover when you are off on your holiday.
[break]Backpacker Travel Insurance
The best adventure can put you at considerable risk especially when you are in a foreign land. The concept of backpacker travel insurance is comparatively new in the market. However, it is best to opt for a reliable source if you plan to undertake an adventurous trip. All insurance policies are subject to exclusions which include previous claims due to medical conditions or risky adventure sports like bungee jumping.
Typically, tourist travel insurance companies provide cash cover for every condition included in the clause. This ensures that your holiday will be hassle-free.
What Does Backpacker Travel Insurance Cover?
The minute details of backpacker travel insurance policies may vary in different insurance companies. However, the basic coverage spanning most of these policies is quite similar and listed as follows:
# Baggage and possession cover: This will enable a traveler to claim compensation for lost baggage. The insurance company also covers the administrative charges for a new passport in case you lose it.
# Emergency medical cover: This will cover all your medical requirements while you are on the trip.
# Rescue and repatriation: The provision of emergency medical cost will be covered even to the extent of offering a helicopter rescue. This would be essential in case you are stuck in an inaccessible place.
# Holiday cancellation: A cash cover will be provided for money that may get lost in the event of a sudden holiday cancellation.
# Personal liability: In case any injury is caused by you to an individual and his/her property, this will cover the same.
What Other Factors Should be Considered When Buying Tourist Travel Insurance?
Consider the exclusions in your tourist travel insurance policy. In some policies, there are exclusions for injuries incurred while participating in adventure sports like bungee jumping or jet skiing.
There may be situations when policy coverage may be extended to include these sports. This can be done by paying a higher premium to insurance companies. It is important to ensure that the adventures you wish to participate in are covered by the insurance policy. It is best to declare any medical or other condition that may impact your policy beforehand. Otherwise any latent relevant information may just nullify your entire coverage.
Most importantly, please make sure that you buy your backpacker travel insurance from a reliable broker.
[break]Car Travel Insurance
Motor or car travel insurance is a unique coverage offered by insurance agencies. One should accept the offer of car travel insurance policy, if he travels a lot and while traveling, he uses or rents a car. The secret is if one relies upon taking a car, he should rely on car travel insurance.
Basic idea
This facility covers the excess amount in the event of damage of rented car(s)/ vehicle while driving during the trip. The premium (which is the insurance rate used to decide the charged amount for a certain amount of insurance coverage) charges differ according to number of days of travel, the destination of the country and the choice of schemes one has taken. For example, if somebody travels outside his own country, then normally he has to pay much higher premium charges for that particular car travel insurance policy.
Claim procedures and advice from experts
Experts advise that while someone determined to go for car travel insurance before each trip, he should check the premium schedule offered by different insurance agency. This is because claim procedure is the most vital part of any insurance policy.
Normally all the insurance claim should be lodged within certain time period. One needs to complete and submit the claim form directly to the insurance agency with all relevant documents. In that case one needs to intimate the concerned insurance agency.
Generally insurance against collision damage is not included within the policy. If somebody wants to to demand his claim in the event of any accident or damage of car during any trip, he needs to acquire a collision damage discharge waiver from any rental agencies or credit card issuer.
Precaution
While signing contract with the agencies, one should be alert about whether the car travel insurance policy includes the following:
* Damage to the rental car including fire, theft, accidents, towing and road hazards
* One should always check that the insurance company is providing the facility to determine coverage under the existing personal car travel insurance policy because if one does not have any car travel insurance or not enough coverage, then he needs to buy the coverage from the respective counter.
Family Travel Insurance
Family travel insurance policy is a necessity while travelling, as kids and grown ups may face issues that can wash out or delay vacation plans. In such cases, there are non refundable tickets that may become a liability. Therefore, you need a family travel insurance policy that protects against such losses.
Family Travel Insurance: Types
With almost similar family travel insurance policies, there may be considerable confusion about the kind of coverage that one gets.
To end this confusion, there are three kinds of family travel insurance that exist:
* Family Travel Insurance with main focus on Medical Coverage: This insurance covers you and your family members to tackle various medical situations that may arise. However, there may be a few exceptions. That is why it is important to read the terms and conditions in detail. If all the emergencies are covered including transfers, there will not be any need to take this type of insurance.
* Family Travel Insurance with main focus on Trip Cancellation: Families with kids and grown ups can face emergency situations that may result in delay or cancellation of the trip. This may cost you dearly if the trip is not insured against cancellation. That is why people with kids or people over the age of 60 years must consider buying this kind of family travel insurance policy. Check with your credit card providers and try to check if they offer this facility for free. Before buying, check the refund conditions of all the bookings that you make. If they offer refunds, you will not need to buy this kind of insurance policy.
* Family Travel Insurance with main focus on Trip Loss: Mishaps and theft can happen to anyone especially when travelling other destinations. In such cases, the family travel insurance policy with trip loss protects your luggage against theft or loss. It is extremely effective when people travel with highly expensive accessories or items. It is a good idea to review existing insurance policies for these covers. If your valuable assets are covered to a certain amount, there is no need to buy separate family travel insurance.
Every traveller must go through his/her existing policies to weed out all the redundant coverage that a travel insurance agent may suggest. Leaving out redundant coverage will decrease the premium of this family travel insurance policy.
[break]Medical Travel Insurance
Medical travel insurance is the most essential part of any travel insurance. Traveling abroad can be an exciting experience. However, the new climatic conditions could make you fall ill. The unpredictability of a new place may even result in injuries and absence of financial support for medical coverage will make matters worse.
The expenses involved in medical treatment in a foreign land, such as in the case of an air ambulance, could overwhelm an average traveler. Medical travel insurance ensures that your medical needs are met without any problems. They evaluate your situation and make payments to the medical facilities. Even in the absence of their direct affiliation with the medical facilities, they reimburse you once you produce the receipts.
Medical Travel Insurance Coverage
Medical travel insurance covers the hospital and doctor’s bills. Additionally, it covers expenses such as vehicle services or travel cost of your family member to be at your bedside. The various areas of coverage include:
*
Traveler’s emergency treatment for illness or injury
*
Dental or surgical treatment after an accident
*
Rehabilitative treatment
*
Regular provision of treatment, supplies and services
*
Prescription medication
*
Sturdy medical equipment
*
Treatment/surgery cost of a physician
*
Hospitalization
*
Nursing services
*
Laboratory and diagnostic testing
*
X-rays
*
Chemotherapy and other radiation techniques
*
Surgery and anesthetics
*
Even transplants of organs are covered, although they are limited to a few certified transplant facilities.
Repatriation and Medical Travel Insurance
As repatriation is done via air in emergencies, it is the most expensive part of the coverage. The facilities include:
*
Ambulance service: This includes ground as well as air ambulances for returning home
*
Paramedical services
*
Return or the repatriation of a deceased policyholder
Add-ons: Medical Travel Insurance
Depending on the duration of the insurance, a traveler can add the following elements as well to his medical travel insurance:
*
Maternity: This will include normal and caesarean delivery, pre and post natal care, and baby care and treatment for a specific number of days.
*
Children: Babies can be added by notifying the insurers. Children up to 18 years of age can be covered under this add-on policy.
There are other add-ons as well that can be easily identified by reading in detail about medical travel insurance.
[break]
Luggage Insurance
Luggage insurance protects your baggage against theft and loss. Many a times, luggage is misplaced by the airlines or the travel agents. In such cases, coverage for luggage saves you from unwanted liabilities.
Primarily, luggage insurance is a part of travel insurance. However, it can be taken off the travel insurance coverage if any other insurance policy that you might have bought secures your luggage while traveling.
Luggage Insurance as a Part of another Policy
There are many insurance policies that have luggage insurance as a part of their coverage, such as:
· Homeowner’s insurance: This insurance usually covers losses aboard and therefore go through the policy’s details to ensure that it covers luggage as well. Alternatively, contact your insurance agent for clarification.
· Collision insurance on your rental car: This insurance covers theft and loss of baggage. Just enquire about the exceptions and the conditions to ensure that claim process is hassle-free.
*
Trip cancellation insurance: Since flights can get cancelled for many reasons, such as a natural disaster or terrorist attack, chances of losing your luggage are high. Therefore, a trip cancellation policy provides luggage insurance as well.
*
Airlines or other public companies usually cover your luggage for a certain (limited) liability for damage or loss.
Important Situations: Luggage Insurances
Baggage insurance is an essential cover, especially if you have a tendency of forgetting things, leaving things behind or dropping them. Ensure that you have luggage insurance:
*
If you are traveling to a part of the world that is notorious for theft
*
If you are carrying expensive items, such as a camera or jewelry
*
If you are traveling on a business trip and carrying official documents and computers
*
If your existing insurance does not cover luggage or the policy has too many exceptions.
*
If you feel that the weather of your destination is too unpredictable, such as beaches where a high tide can carry your items away.
*
If you are traveling with kids, since they have a habit of losing things
To find the best insurers, simply get in touch with your insurance agent, travel agent, colleagues, relatives to ask for referrals or search online. Once you have many options, compare their prices and then buy the best luggage insurance.
[break]
Insurance for Air Travel
Insurance for air travel is a must for people who fly frequently and carry a lot of luggage. Typically air travel insurance covers a passenger on various grounds, such as loss or theft of luggage, delay or cancellation of the flight and medical emergencies. The main advantage of insurance for air travel is that it covers you in the air, which all other insurance policies exclude.
Insurance for air travel is purchased before boarding an airplane. If life insurance is included in the air travel insurance, the traveler’s family members get a lump sum payment in the event of a serious accident or even death. Frequent travelers are advised to buy air travel insurance through third parties. This way the insured amount gets delivered to the family members even if the airline goes bankrupt.
Insurance for air travel is quite affordable. For coverage of $300,000, one needs to pay just $20. The reason for such a low premium is that airplanes are considered to be the safest mode of transportation and the statistics prove that as well.
Elements of Insurance for Air Travel
Insurance for air travel includes huge coverage. Some insurers also allow the traveler to decrease the amount of coverage if they are already insured for those areas. However, comprehensive air travel insurance offers coverage that includes:
· Trip cancellation coverage: The insurers pay travelers if their flight is cancelled for any reason. This covers the travelers against any losses that might occur due to prepaid bookings.
· Trip interruption coverage: For any reason that is approved by the insurer, if there is an interruption in a trip, then the insurers pay a partial amount of the trip costs to the travelers.
· Trip delay insurance: If delays, caused by common problems such as terrorism or natural disaster, cause a traveler to miss a flight, the insurers arrange for a new flight or arrange for their transfers.
· Travel accident insurance: In case of any accident, the insurers pay the traveler’s family the assured amount.
Even when the rate of accidents has been extremely low with airlines, travelers should invest in insurance for air travel to ensure that they are not caught unawares by an unforeseen situation.
[break]Flight Insurance
Flight insurance is a kind of Accidental Death and Dismemberment (AD&D) insurance that gives you coverage against accidents during flights and losses suffered due to cancelled trips. Most flight insurance policies provide both flight accident insurance as well as flight travel insurance. However, if your existing insurance policies have either of the coverage, you should avoid duplication.
Flight insurance works as life insurance as well (for extra premium). Should you meet with any unfortunate incident on board or on your way to the flight, the insurer pays a lump sum amount to your family members. It also covers you against any injury that you may suffer during the flight and against the loss of income on account of this.
Flight Insurance Add-Ons
Depending on the coverage required, flight insurers have created several add-ons that you may buy for extra premium. These add-ons offer you more coverage than a standard flight insurance policy.
*
Trip Cancellation Coverage:This add-on reimburses expenses incurred by the traveler due to the cancellation of a flight. It provides financial cover even if the trip is cancelled by the traveler. Weather coverage is included. The highlight of this add-on is the reimbursement provided in the event of any terrorist activity or natural disaster.
*
Trip Interruption Coverage:This add-on reimburses a certain portion of the total cost of the trip if the traveler, for a reason mentioned in the cancellation clause, is not able to complete his trip. It is applicable the moment a traveler starts his journey in air.
*
Travel Delay Coverage:If your flight gets delayed for a common problem, terrorism, natural disaster or other reasons, this add-on covers your transfer to the home or for booking a different flight to the destination.
*
Travel Accident Coverage:This add-on covers a traveler in case of any accident on board. Although the frequency of air accidents is very low, the premium is quite high, since the coverage amount is extremely high as well.
There is a host of other add-ons. The endeavor should be to pick the best after comparing the cost and coverage.
[break]Group Travel Insurance
Group travel insurance is a cheaper way of getting travelers insured. This is the most advisable for a group of ten or more people traveling together. In fact, the larger the number of people in a group, the higher the discount the group is eligible for.
The most common group insurance policies cover:
*
Tourist groups: Many travelers join organizations or clubs that share the same interests. By virtue of the number of members, such organizations become eligible for group insurance policies at attractive rates.
*
School activity participants: School kids need to travel from state to state to participate in curricular and extra curricular activities. Schools taking students for trips or for participant in contests opt for group travel insurance.
*
Athletes, sportspeople and spectators: Sporting teams traveling together can opt for group travel insurance. Amateurs or semi-professionals can also seek coverage under group insurance to cut the cost of individual insurance. Even people traveling to watch a particular game or series can save money through group insurance.
*
Special interest groups: People traveling for special reasons, like pilgrimage and summer vacations, or a specific activity, like skiing trips and nature travel, may travel in groups and get a group insurance.
Types of Group Travel Insurance
There are two types of group travel insurance:
· Basic group travel protection insurance: This insurance covers your trip against cancellation, interruptions and delays. It includes a medical clause for individuals and a protection clause for the baggage. This form of group insurance covers emergency medical evaluations and transfers to hospitals as well.
* Comprehensive Group Travel Insurance: This type of insurance covers everything mentioned above along with protection against terrorism and bankruptcy while on the move. As this group insurance provides more coverage, it costs more as well.
One should keep in mind that if all the members of the group have their individual health insurance and annual travel insurances, then the need for group insurance reduces to a basic one. In such cases, it is important to read the insurance policy details carefully and identify the areas that are not covered.
[break]Cruise Insurance
Cruise insurance can be purchased at the time of booking a cruise. It can be purchased either through the cruise provider or any third party vendors directly or through agents.
Most cruise insurances include coverage for five kinds of problems:
*
Trip cancellation
*
Trip delay
*
Emergency medical complications
*
Emergency medical tests
*
Stolen or lost baggage
About Cruise Insurance Cover
The highlight of every efficient cruise insurance company is that they offer around the clock assistance for reporting lost baggage or other complications that may arise while you are on the cruise. There are policies for sailing insurance, boating insurance and third party insurance.
The cost of cruise insurance depends on the traveller’s age. Usually the cost is around 6-8 percent of the trip’s cost. However, it could be lower depending on the insurer and your relationship with them.
The best way to pick economical cruise insurance is to compare a lot by their prices vis-à-vis its coverage. There are many websites that let you compare the prices in a few clicks.
Cruise Line and Third-Party Cruise Insurance
There are many differences between cruise insurance offered by cruises and the third parties.
The differences are:
· Buying cruise insurance directly from a cruise liner is cheaper than third party insurers and sometimes gives more coverage. However, if the cruise itself goes bankrupt, the insurance too ceases to exist. In such cases, third party insurances are safer to invest in.
*
Cruise insurance purchased directly from the cruise liners does not cover you for several events. If your flight to cruise gets delayed or cancelled, you are left with no option. However, third party insurances provide this facility and cover you right from the moment you step out of your home for your trip.
*
Cruisers do not provide you with cash back facility. They simply issue you cruise credit in case of delayed or cancelled cruises. Third party insurances, however, offer cash back facility.
*
Cruise liners provide secondary medical coverage. This means that a person needs to first file for claims through a medical insurance carrier and then apply for reimbursement with the cruise line.
Irrespective of the insurer you buy the insurance cover from, people travelling on cruises must consider various medical complications in mind and not delay in buying a suitable cruise insurance policy.
[break]Activity Insurance
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.
*
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.
[break]
Camping Insurance
Camping insurance is the best way of protecting yourself and your equipments while camping. Breaking into camps is fairly common. In the process, things can be lifted, which is why it is important to pick the best camping insurance. Insurance for camping insurance is usually complementary as it goes hand in hand with travel insurance. It is, however, more specific and fine tuned to your camping needs and emergencies.
How to Pick the Best Camping Insurance Cheaply
The best camping insurance is hard to find. Most people have already existing insurance policies pertaining to travel, medical and life insurance covers. Some of those policies cover certain aspects that are commonly found in camping insurance such as:
· protection against theft
· protection in case of medical complications
To pick a camping insurance, check whether it complements your existing insurance policies. The following tips will also come in handy:
· Review every clause of your life insurance policy and check whether it protects you outside your country. Review the exclusion clause and analyse whether those conditions may arise during camping. If yes, opt for a camping insurance that covers your camping insurance requirements.
· Review your medical insurance policy. Check for exclusion on injuries arising from adventure sports or any unexpected events while camping itself. Get yourself insured for these aspects if it is not covered through your medical insurance.
Research More to Pick the Best Camping Insurance
The key to picking the best camping insurance is to research as much as possible.
· Always check what is offered by your existing insurer, particularly their best quotes or simple add ons to the existing insurance. Chances are that they will offer you, comparatively, a cheaper price.
· Ask your travel agent about the best policies that he/she would suggest. Most of the time, travel agents have up-to-date information about the camping insurances.
· Get in touch with your credit card company. Many of them have tie ups with big insurance companies and may suggest varied options to pick the best camping insurance.
· Explore the Internet to compare different prices.
Finding a better and more economical choice is the best way to securing the best camping insurance.
