What is Travel Insurance?
Travel insurance is insurance that is intended to cover medical expenses, trip cancellation, lost luggage, flight accident and other losses incurred while traveling, either internationally or within one's own country.
Policies can be extended for many types of travel including Holiday, Business, Study etc.
Premium varies as per Geographical Location: Worldwide Including USA/Canada, Worldwide Excluding USA/Canada, Domestic Travel Insurance, Asia Pacific Policies, Schengen Specific Travel Policies etc.
Types of Policies:
- Annual Multi Trip Insurance: Your Policy will start on the latest of the Effective Date & hour as specified on the Policy Schedule, or the commencement of a Trip and the total premium has been paid & realized in advance.
- Single Trip Insurance: Your Policy will start on the Effective Date & hour as specified on the Policy Schedule provided it is countersigned by Us and the total premium has been paid & realized in advance.
Coverage under Travel Insurance:
- Accidental death and dismemberment (Including loss of sight or hearing)
- Accidental death and dismemberment (Common carrier - including loss of sight or hearing)
- Accident & sickness medical expenses
- Sickness dental expense
- Assistance : medical assistance, medical evacuation, repatriation, legal assistance, lost luggage or lost passport, general assistance, pre-departure services, emergency travel agency, emergency cash transfers and advances, disclaimer of liability
- Baggage delay
- Baggage loss (Common carrier)
- Emergency medical evacuation
- Repatriation of remains
- Loss of passport
- Personal liability
- Flight delay
- Automatic extension of the policy
- Trip curtailment
- Trip cancellation
- Missed connections/missed departure
- Bounced bookings of hotel and airline
- Fraudulent charges
Some travel policies will also provide cover for additional costs, although these vary widely between providers.
In addition, often separate insurance can be purchased for specific costs such as:
- Pre-existing conditions (e.g. asthma, diabetes)
- Sports with an element of risk (e.g. skiing, scuba diving)
- Travel to high risk countries (e.g. due to war, natural disasters or acts of terrorism)
- Additional AD&D coverage
- Third party supplier insolvency (e.g. the hotel or airline to which you made non-refundable pre-payments has gone into administration)
- Acute onset of pre-existing conditions
- Common exclusions
- Pre-existing medical conditions
- Elective surgery or treatment
- Terrorism - Most trip cancellation policies include terrorism but only when there is an act of terrorism that meets the policy's criteria including definition, place of occurrence and date of occurrence
- Injury or illness caused by alcohol or drug use