3 Different Types of Insurance Policies for Travelers

Planning to go for a breathtaking vacation with family? Or booking tickets at the last moment to attend an urgent business meeting abroad? Or going to some foreign country to attend a cousin’s wedding? Whatever be your reason for traveling, it is critical to understand the importance of buying a travel insurance policy.

Travel policies not only make traveling safer but protect travelers against various unexpected monetary losses as well. In fact, there are various other benefits of buying travel policies but these benefits can be availed only when the right policy is chosen.

For a not so frequent traveler, the travel insurance industry might appear limited with a few products on sale. However, in reality the insurance industry and its products are highly extensive and buyers must do a thorough comparison to zero down at the best deal. Here below we have mentioned some of the most common yet useful insurance policies for travelers. Take a look and try to figure out which one suits best your travel needs and requirements.

Global Travel Insurance – General

Before mentioning specific insurance policies, let’s talk about a travel policy that covers problems people generally come across while traveling. Due to change in place and climatic conditions, many travelers suffer from health problems and this is the first area covered under a global travel insurance policy. The insurance companies arrange medical facilities and pay the bills for the insured person as well.

The expense caused due to lost luggage is another thing covered under travel policies. It is noteworthy that every insurance company might not offer this benefit and one should check before purchasing the policy. Apart from these basic benefits, companies can include as many offers as they wish in the policy and the premium price varies accordingly.

Trip Cancellation Insurance

While general travel insurance policies cover many different areas together, trip cancellation insurance covers amount of money spent in cancelling a trip. The scope of this policy is limited and travelers can buy it if they have already purchased a travel policy that does not offer this service.

Before you buy this insurance, it is important to know the situations in which the policy is applicable. Generally, insurance companies have different rules but some of the situations where in trip cancellation is paid include sickness, bad weather, death of immediate family member and a few more.

Trip Interruption Insurance

Another type of insurance offered by insurance companies for assistance of travelers is trip interruption insurance. Under this policy, if your journey is interrupted due to some serious reasons then the insurance company pays some percentage of monetary loss. Also, return tickets are made available to the person insured by the company itself.

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