Everything you need to know about travel insurance

Whether or not you are a frequent traveler or you like to take trips on a regular basis you are probably aware of the term travel insurance. In the last decades the insurance fields has taken over several aspects of our lives. We ensure our homes, our cars, our health, our pets and many more. Most of the insurance policies that we buy are mandatory precaution methods while others are almost useless. As a result a lot of people are debating the importance of travel insurance. When traveling to foreign countries, travel insurance is mandatory but at what point do you think you need more than the minimum cover?

  • Types of travel insurance coverage

Travel insurance covers a wide variety of situations which can cause the traveler financial loss. Perhaps the most important type of coverage is the medical one. Most health insurance policies only cover certain problems which occur within the country of residence. Given the fact that medical bills are so expensive, you can only imagine how bad it would be to deal with them in a foreign country. Other types of travel coverage include emergency evacuations, repatriation of earthly remains, return of a minor, trip cancellation, trip interruption, accidental death/injury or disablement benefits, expenses for funerals that take place in other countries, lost/damaged/stolen/delayed baggage, missed flight connections, travel delays and so on.

  • How to pick the best travel insurance policy

When it comes to travel insurance, most people choose to buy temporary policies which are only active during the travel period. When determining the type of coverage that you want, you should always consider the frequency of your travels. Based on that you can determine as approximate level of risk. There are other things that you need to consider as well. For example if you are a fan or backpacking then you probably need minimum to no coverage for your baggage since you will be carrying them most of the time and you probably won’t be holding any valuables.

  • Travel insurance for overseas medical procedures

As far as planned procedures in other countries go there are a couple of things that you need to consider. First of all, you normal travel insurance company might not have a plan that is suitable for these situations. These are not included in the regular medical coverage of travel insurance policies. You need to be very sure when you are buying a health insurance policy for a medical procedure that you want to have done in another country. It is a well known fact that the USA is amongst the most expensive nations when it comes to medical negligence therefore a lot of people choose to undergo medical procedures in other countries. However, there are certain risks to these overseas procedures, which is why getting a medical negligence insurance is a good idea; this is the kind of precaution you may consider a bother, except when you might really need it, when you realize just how important it is.

  • Risks of oversees medical procedures

If you are planning to have a procedure in a foreign country make sure that country has an acceptable standard of care. If you bought a good insurance policy and you were honest when completing the form, then you probably have nothing to worry about as far as the bill for the procedure goes. However, you should also consider getting a medical negligence insurance. It is a well known fact that when it comes to negligence, not all countries offer the proper legal support for the plaintiffs. Therefore, in order to avoid a stressful law suit in a foreign country it is better to insure yourself against medical negligence.

These are the main aspects that you need to consider when buying travel insurance. Keep in mind that in a foreign country, you will never receive the same support from the authorities as you would in your own country. Therefore, the best thing to do is protect yourself against the worst case scenarios. The minimum coverage is mandatory but the rest of the coverage depend on how responsible you are as a person.

Author: Nelson Rhodes

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