Travel Insurance: Different Types of Policies
Travel Insurance will provide emergency assistance services when reporting lost documents, and provide arrangements for emergency cash transfer. Other benefits maybe included and tailored to your needs, when purchasing travel insurance policy.
Four types of travel insurances should be considered. Trip cancellation Insurance will reimburse cost if the cruise line, airline or tour operator goes out of business. Also, coverage includes being reimbursed for the cost due to sickness, death in the family, reimburse for any used portion of the trip, that had to be canceled due to sickness or injury, and unfortunate event that may occur, as listed in the policy. Average cost for trip cancellation insurance is five to seven percent, of the price of the vacation or package. Baggage or personal effects insurance coverage covers the cost, personal belongings that are lost, stolen or damaged during the trip. Coverage usually cost fifty-dollars annually, for $1,000 worth of personal belongings for a week. Often airlines will offer some compensation for lost belongings.
Homeowners insurance may cover the cost for lost belongings on a trip or for an additional charge, will cover expensive items such, as jewelry and electronic equipment lost or stolen on a trip. Emergency Medical assistance insurance provides coverage, for the cost to be airlifted, evacuated, transported and prolonged care at a hospital. Sometimes your own medical insurance will cover these expenses. Accidental Death insurance provides a variety of coverage, if you or your family member should die, while on a trip.
Comprehensive travel insurance plans cover a variety of benefits. This type of policy coverage cost higher, compared to other types of insurance, but has the best coverage, especially for extensive travel plans. Comprehensive plans may include, all or some of these benefits: Baggage Protection, baggage delay, personal belongings, travel delay, rental car protection, emergency medical & Dental, emergency evacuation, flight insurance, missed connection and twenty-four hour assistance. Other types of comprehensive plans include family value travel insurance, may cover children of families, under the age of sixteen at no additional charge.
Flight accident Insurance provides very high benefits, usually up to one million dollars in coverage. The coverage would include accidental death, dismemberment and medical expenses, while traveling on regularly scheduled commercial or charter air transportation, transportation to the airport, and waiting for a plane at an airport facility. Also, coverage would include any passenger traveling on United States military airlift command flight.
Annual medical insurance coverage designed for frequent leisure and business travelers. Regardless as to the number of trips taken during the year. The coverage is catered to the specific needs of the traveler, especially traveling to exotic locations, where vaccination is required and offers variety of benefits with some restrictions. Annual insurance provides: Year round protection, baggage protection, baggage delay, travel delay, personal belongings, emergency medical & dental, flight insurance, multiple trip protection, and twenty-four hour assistance.
Many credit card companies will offer travel insurance for a fee or automatically charge a fee, when booking a reservation or making any travel plans. Sometimes points accumulated on a credit maybe exchange for travel insurance. Many associations such as Automobile Club of America will offer travel insurance, for a nominal fee or be included in their annual fee. In September 2005, AirTran Airways is offering customers travel protection services for a nominal fee.
Selecting and comparing travel insurance rates, is worth the time to save money. The website Totaltravelinsurance.com provides consumers, the opportunity to compare various travel insurance coverage, and benefits with a list of companies, which include American Reinsurance, Frontier Insurance, Hartford Financial Specialty Group, Reliance National and other companies. Also, InsurancMyTrip.com, Squaremouth.com, Travelex.com/usa, and Worldtravelscenter.com, offers comparison travel insurance policies. Statetravel.com “offers affordable worldwide coverage for travelers of any age” for as little as $48 (for an 8-day trip) you can avoid hassles and travel easier knowing you’re covered. GoAbroad.com specializes in offering international insurance coverage for students studying abroad, and other international travelers on business, teaching, interning or vacation.
Travel Insured International (1- 800 – 243 – 3174) offers a safeguard for the cost of nonrefundable airline ticket, which may have to be canceled or interrupt your trip due to a listed reason. Always remember to read the fine print on a travel insurance policy, since what you may believe you are covered in case of an emergency or will be reimbursed, may not be printed in the contract. Also, many insurance companies require purchasing travel insurance within a certain number of days, from the time the trip deposit is paid or offer travel insurance by a certain number of days, prior to departure.
