Travel Insurance - Yes or No?

by Chip Menendez
(Manila, Philippines)

Well, Where is My Flight ??

The organised traveler plans their trip well in advance, whether it be for a business meeting, or a well earned vacation, nothing is left to chance!.

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Flights and hotels are booked, vacation leave filed, itinery for the travel listed and noted – the list goes on & on.

But having taken care of pretty much everything, why is it then that most travelers forget or choose to ignore travel insurance?.

What is travel insurance?. Travel insurance covers for your medical and financial needs whilst you are traveling away from home – local or international, it covers lost luggage, excessive flight delays & holiday curtailment.

Many travelers think their credit card, regular health insurance, or accident and home coverage insurance would do. Wrong!, it might offer you limited cover, it is extremely unlikely that it will cover every eventuality.

A large percentage of health insurance plans do not cover overseas incidents. Other plans have minimal coverage overseas but may not be enough for you to be returned to your country of origin.

An emergency abroad can be extremely expensive, without travel insurance, you could actually be put in debt for the rest of your life paying off the medical emergency procedure you had or the medical evacuation while traveling elsewhere in the world!.

It has been estimated that a typical medical evacuation cost is from $10,000 upwards.

Travel insurance can be arranged while booking for your trip to cover the exact duration of your travel. You can also opt for continuous travel insurance if you are frequent flyer.

When subscribing for a travel insurance policy, make sure that it covers injury or unforeseen illness abroad. If your destination is the Alps to do some skiing or the beach for some parasailing, ask if injuries related to these "jigh risk" activities are covered. If not, look for one that provides the required coverage.

Ask if the travel insurance plan covers pre-existing conditions like: diabetes, heart conditions and the like. The plan should have a guarantee of paying medical expenses abroad.

A 24/7 emergency service and assistance should be included in the plan. What good would your travel insurance be if you have to wait until offices open that side of the world while you’re halfway around the globe?.

In a nutshell, a good travel insurance should cover the following items: medical and health cover for illness and injury incurred abroad; 24/7 service and assistance, stolen or lost possession coverage, a personal liability cover in case you caused damage or injury,cancellation and cutting short of your trip, added clause for the daredevil in you – skiing, parasailing, diving or any other extreme sports.

Make sure that the travel insurance plan covers the whole length of time that you are away. Some additional clause may be added: personal accident, legal expenses, or even financial liability in case your choice of airline goes bankrupt at the time of your travel.

There are numerous travel insurance agencies that you could choose from. Rule of thumb. Cheap travel insurance policy means less coverage.Less coverage means less protection for you, the insured.

To ensure you can relax & really enjoy that well earned break, make sure you have all the bases covered!.

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