Before deciding on whether you really need a travel insurance or the type of insurance you prefer, identify the potential problems that can ruin your dream vacation. For instance, ask these questions before considering a travel insurance.
- Do you travel overseas?
- Are you thinking of planning to participate in extreme sports?
- If you have to come back home because of an emergency, can you afford?
- If someone who accompanies you gets sick, can you afford medical care?
If you are not prepared or have no answers for any of the above questions, you may need a travel insurance cover. But, before opting for one, find out cancellation policies of hotels and other travel service providers; carefully review agreements and policies with credit card companies as they already cover issues; and understand familiar terms, price schedules, exclusions and conditions of the insurance you opt
In short, a policy should typically cover:
- The financial loss due to trip cancellation or delay due to sickness, death or injury of a family member.
- Protection against financial risk if you fall sick during your trip.
- Cover loss or theft of baggage and passport.
- Emergency evacuation costs, if arise due to terrorist activities or natural disasters.
- Personal liability like damaging the property or injuring the a person other than the travel party, due to the insured’s negligence.
The Bottom Line
Get the right insurance in place to cover your trip. It is the best way to ensure that your dream vacation doesn’t turn into a nightmare!