Imagine getting to the airport after a business conference in a foreign country only to find out that your flight has been cancelled due to bad weather and you don’t have money to book a hotel for the night.
You may be forced to spend the night at the airport. But not when you have travel insurance. With such a cover, you will be catered for and safe.
According to an insurance expert Jane Kariku, when most people think of travel insurance, they immediately think about health coverage.
But Jane elaborates that it comes in different types, all designed to protect travelers from the unexpected expenses that can add up quickly.
She says that travel insurance can help cover medical expenses or financial losses one might incur while traveling. It’s often inclined as the best protection for those traveling domestically or overseas.
Kariku says that there are five types of travel insurance namely; Flight/Trip cancellation and loss of baggage, Travel Medical Insurance, Travel Health Insurance, Emergency Medical Evacuation and Accidental Death/Flight Accident.
Flight Delay and Cancellation and Lost Baggage
Most airlines are not obligated to provide you with any compensation or assistance if your flight is delayed or cancelled due to bad weather. You could be stuck away from home and have to pay for hotel and meals, and could even miss something important that could cost you. This coverage provides for these situations and helps you pay for the unexpected expenses of a delayed or cancelled flight.
Also included with this coverage is a payment for lost baggage. This allows a traveler to replace the items in your luggage if the airline loses it in transit. Many people travel with valuables in their suitcase and insuring it is a good idea since bags are lost in transit every day.
Travel Medical Insurance
This provides an additional death benefit to the life insurance you already have in place, and can also pay additional costs such as returning the remains home for burial.
According to Jane, this cover is paid out faster than traditional life insurance, helping to cover the costs of a person who died abroad.
Jane advises that Travel life insurance is not a full-time life insurance policy, and is only in force during your trip. It is often combined with a travel accident insurance policy that covers you for the costs associated with an accident that do not fall under medical insurance.
Travel health insurance is designed to provide coverage for emergency medical needs such as hospitalization, emergency room fees, ambulance costs and prescription drugs while in the hospital. It can also have other benefits such as covering costs to transport you home for further care and covering travel costs for family members.
Jane notes there is no trip too short for travel health insurance. An accident or illness can happen at any time, and leave you with mounting bills.
Emergency Medical Evacuation
Now should one get sick or is involved in an accident, this type of insurance will provide the necessary medical evacuation and transportation to medical facilities. These costs according to Jane can be every expensive. This is essential if stranded in a remote rural area without access to facilities.
Accidental Death and Flight Accident
These types of policies cover travelers involved in an accident during their trip and should one die in the course of the trip, then the benefits are paid to surviving beneficiaries.