Planning Your First International Trip? Everything You Need to Know About Travel Insurance

Are you planning to travel abroad for the first time?

Well, then, you must be beaming with excitement. But do you know how to keep the excitement alive and not let any unfortunate scenario affect you? The answer is simple: with a travel insurance plan.

Planning an international trip is not easy; you must do a lot, from booking flights and accommodations to creating an itinerary. Now, you don’t want all your effort to go into vain just because of a flight delay, lost luggage or a medical emergency. Hence, the need for international travel insurance arises.

What is International Travel Insurance?

Like any other insurance plan, an overseas travel insurance policy also acts as a financial safety net. It ensures financial protection during the trip against various natural and man-made incidents that can cause disruption to your enjoyment.

The potential problems international travel insurance aims to extend coverage against are:

• Medical expenses
• Loss of luggage
• Loss of important documents
• Delays and cancellations of flights

Apart from these, the coverage is valid for other disruptions outlined in the policy documents. So, go through the fine print judiciously.

Moving on, apart from knowing what travel insurance is, it is vital to understand its significance. It will help you make a better decision. Here are the details:

• Financial security: The biggest reason for investing in these insurance plans is the financial backup they offer. In the event of any unforeseen incident abroad, it will help you cover the expenses easily.
• Medical cover: These policies also include a dedicated medical cover that ensures you receive the best treatment, even outside the country.
• Baggage and document protection: The travel insurance plans also reimburse you for the expenses of replacing your lost luggage and documents.
• Peace of mind: Most importantly, these insurance plans offer peace of mind. With your financial and medical crises taken care of, you can enjoy the trip.

Types of Travel Insurance

There are hundreds of varieties of travel insurance, depending on the insurance provider you are opting for. But, to help you make a decision, here are some of the prevalent categories of this insurance:

• Single trip insurance: The most basic format of travel insurance, and it only covers a single trip. If you are an occasional traveller, this is the perfect option for you.
• Multi-trip Insurance: Beneficial to those who may need to travel several times a year, especially those forced to travel out of business compulsions.
• Medical travel insurance: This covers emergency medical incidents that might occur during the trip. This includes hospitalisation costs, emergency treatments and even medical evacuation.
• Family travel insurance: Extend coverage for family members against different sudden incidents. This will cost less than the individual policy for each member.
• Student travel insurance: Particularly suitable for international students, focusing on aspects of medical and travel accidents.

Apart from these, there are several subtypes of international travel insurance, and you can contact the insurance provider to get the details.

Inclusions and Exclusions Taken for Travel Insurance

Well, knowing the subtypes is simply not enough; you need to know what such policies cover and what they don’t. It aids in better decision-making, avoiding potential problems:

Inclusions

Here are the areas generally covered in a travel insurance plan:

• Medical emergencies: Medical emergencies and any forms of clinical treatment while on travels.
• Trip cancellations/interruptions: Coverage for non-refundable expenses if you need to abandon your trip.
• Lost or delayed baggage: Insurance for misplaced gear, postponed gear, or harmed luggage.
• Flight delays/cancellations: Reimbursements for excessive wait times or cancelled flights.
• Personal liability: Safeguards you if you are at fault for an injury to another person or their property.

Exclusions

Here are the areas that are not generally covered in travel insurance:

• Pre-existing medical conditions: Pre-existing medical conditions are usually not covered under these travel policies.
• High-risk activities: High-risk events like skydiving, scuba diving, etc., where death and disability are a possibility, are not a part of these policies.
• Travel to restricted regions: Your coverage may be invalid if your destination comes with a travel advisory or government restriction.
• Reckless behaviour: Any event arising due to risky behaviours like excessive drinking is generally not catered for.

How to Purchase the Ideal Travel Insurance Online?

Here is a small guide on how to purchase an international travel insurance:

• Assess your travel needs: First, you need to assess your travel needs, which include destination, length of stay, health risks and planned activities.
• Compare different plans: Once you are set on the previous front, then you must consider the available insurance plans in the market.
• Read the fine print: During the comparison of the plans, read the details of the policies carefully and understand them.
• Choose the right coverage: Now, depending on your needs, current health conditions and expected emergencies, choose a suitable plan that provides comprehensive coverage.
• Review the claim application and settlement process: Lastly, ensure that the insurance company has a hassle-free claims process with 24/7 customer support for emergencies.

How to File a Claim for a Travel Insurance Plan?

Submitting a travel insurance claim is simple. Here’s an overview of the process:

• Notify the insurer: Call your insurance company as soon as the emergency occurs and inform them of the details of the situation for prompt assistance.
• Gather documentation: Assemble all the necessary documents, including the bills for the medical expenses and receipts for all the expenses you have made. In case the items lost were stolen, you should have copies of police reports.
• Complete the claim form: The majority of insurance companies allow customers to submit claims through online portals or applications. Complete all the fields completely and correctly.
• Submit your claim: Make sure that all the documents are submitted at a given time to avoid unnecessary details.

Filing a claim will not be a very similar procedure in every insurance company, so make sure you review it beforehand for a better experience.

Conclusion

Travel insurance is not just an optional add-on you purchase while going on a trip; it is a security measure against possible mishaps. The insurance covers nearly all possibilities that might occur, including falling ill before or during the trip or losing your luggage while on the trip. When you get into the details of the various plans, their coverage and how to submit a claim, you can determine which is best for you. Thus, you can go off and have fun without worrying.

So, next time, when arranging your overseas trip, make sure that you choose the best international travel insurance policy that will fit your requirements.