The hardest part of purchasing travel insurance is knowing which type of plan to choose. You’ll find a wide selection of protection plans from various providers at different costs, making the process hectic and overwhelming. To help you decide, here are four of the most common types of coverage.
1. Travel medical insurance
This plan covers expenses for medical emergencies such as accidents, evacuations and repatriations. For example, if you get injured while horseback riding, a travel medical insurance plan pays for transporting you to the nearest hospital.
When purchasing travel medical insurance, it’s vital to ask your provider what’s covered. Some insurers don’t cover certain recreational activities, especially adventure or competitive sports.
2. Trip cancellation, interruption and delay
Most companies don’t offer refunds on prepaid services, and this is where a trip cancellation policy comes in handy. Generally, this cover reimburses you for non-refundable expenses for reasons outlined in your policy.
For instance, if you have to cancel a trip due to illness and this is a covered reason, you’ll get back the full amount for any booked flights or accommodation. Other trip cancellation reasons providers will cover include:
• The death or illness of a family member who’s not travelling with you
• Natural disasters, e.g., if your flight gets delayed due to harsh weather
However, you can get additional coverage by purchasing the Cancel for Any Reason policy at an extra cost.
3. Baggage and personal belongings
This cover reimburses you for personal belongings and baggage that’s stolen, lost or damaged during your trip. Although your homeowner’s or renter’s insurance may cover personal belongings while you’re travelling, it may not provide the right level of coverage.
You’re better off purchasing personal belongings coverage to cushion yourself from financial losses during your trip.
4. Rental car coverage
If you plan on renting a vehicle during your trip, it’s advisable to get rental car coverage. This will cover any repairs if your car gets damaged in a wreck, natural disaster, or by vandals.
Unfortunately, your rental car coverage may not include liability insurance, which covers the damage caused to other cars and medical treatment for other injured parties. So ask your insurer what they cover.
Search Compare Insurance today to find the right international travel medical insurance plan for you.