A Quick Guide To Travel Insurance You Need To Know - Ratinah

Travel Insurance - covers vacation expenses against adverse events such as cancellations and interruptions and also covers medical expenses, property loss or damage and transit delays.

A Quick Guide To Travel Insurance You Need To Know - Ratinah

Millions of travelers and holiday makers buy some form of insurance every year, but few people really know what it is and how it is defined. If you know what's included, and what isn't, you'll be able to make the most of your coverage, and get a fair refund.

There are four main categories of travel insurance:

1. Health and Medical Reasons

Emergency evacuation: This guarantees emergency transportation to a local hospital if the traveler is unable to get there on his own or returns to a hospital near the traveler's hometown. If family members are covered by the same policy, they can also travel home.

Medical reasons: It reimburses emergency medical and dental expenses. Almost all vacation insurance plans work by reimbursement of travel expenses after they pay locally for treatment. Claims are usually paid within 7 – 10 working days. Pre-existing medical conditions are covered by most policies if the policy is purchased within (maximum) 21 days from the date the traveler makes the first payment or deposit.

2. Delay and cancellation or reduction

Cancellation: Reimbursement takes effect if the traveler has booked and paid for a vacation, but is unable to depart due to illness or personal injury, death (individual or family member), adverse weather conditions, transportation strike, terrorism, bankruptcy, sudden unemployment, jury duty or by sustaining serious damage to their homes which renders them uninhabitable due to fire or flood.

Delays: This reimburses travelers for hotel, food or clothing costs in case of flight delays. Some plans also cover costs associated with catching up on a cruise if other delays cause travelers to miss departure.

Disruption: Insurance companies pay money to policyholders overseas if they have to cut short their trip due to illness, death (passenger or family member), terrorism, weather, airline strike, bankruptcy, sudden unemployment, and other adverse conditions which means that, due to events beyond the control of the holiday maker, travel must be restricted.

3. Death

Accidental death – covers accidental death or disability on your journey. Usually guarantees the lowest amount of coverage due to higher risk

Air Flight Accident – ​​this includes death or disability during air flight only. Usually guarantees the highest amount of coverage because the probability of this happening is quite low.

Public carriers – Covers death or disability when traveling by pdublic transport such as planes, ferries, buses, trains or taxis.

4. Loss or damage to property

Lost baggage – replace personal items lost, stolen or damaged by travelers. This coverage is usually limited to the duration of the trip and is not limited to baggage that is damaged or lost by the airline. There are two policy limits, total claims and maximum per item. Some policies also limit the types of items that can be claimed – such as valuable jewelry, laptops, and sporting goods

Rental Car Damage – This reimburses the traveler for damage or loss of the rental vehicle. It is designed to allow travelers to opt out of the collision damage waiver (CDW) coverage offered by car rental companies. Fixed liability coverage must be purchased through a car rental company. Car Rental Damage Coverage is also often included with the credit card used to pay for the car rental which often matches the coverage provided in the policy.

Assistance services – provide 24-hour telephone assistance and advice services to travelers. This service can be used whenever a traveler needs advice. Make sure you keep a copy of this number in some places in your luggage or with your person when you travel.

That's A Quick Guide To Travel Insurance You Need To Know - Ratinah


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