Over the past few years, travelling on holiday has increased dramatically. Thus, there are many aspects travellers need to research, one of which being travel insurance. What is Travel insurance? Why should we get one when travelling? There are 7 things you should know about travel insurance.
What is Travel insurance?
Travel insurance is the insurance coverage for risks associated with travelling such as loss of luggage, flight delays, and death or injury while being on a trip. In the case of overseas hospitalizations where patients are not covered by travel insurance, such personal finance is an additional burden.
Not all insurance packages are the same
While people often consider the cost as the main factor to compare insurance types, choosing the cheapest insurance package is not highly recommended. Depending on the value of the contracts, the insurance packages will offer benefits, the limit of compensation, as well as different amounts of money getting from compensation. Therefore, you need to consider carefully the following factors when buying travel insurance to have an option that is both suitable for your budget and ensuring your travel needs.
Type of trip: If you are planning an adventure, be aware that many insurance policies do not include some adventure sports such as sailing, waterfalls or mountain climbing. Thus, you need to make sure that these activities are mentioned in your insurance policy.
Destination: Locations identified as “high risk” will not usually be insured. In that case, if you still intend to go to these areas, you should choose an insurance package with terms of compensation in case of being attacked by chemical, nuclear or biological weapons.
Personal health: Many people do not often think about the possibility of suffering from diseases such as asthma or eczema (rash) when planning their holiday. To avoid costs, if you encounter one of these diseases, choose an insurance plan that agrees to pay for outpatient care.
Length of the trip: Some contracts only provide coverage for up to 120 days per trip, so if you decide to go longer than usual, an insurance contract with no time limit will be your optimal choice.
Buying travel insurance early is better than late
Although few want to think about this, many unforeseen risks can happen even if your trip has not yet begun. That’s why buying travel insurance early will be a wise move. If you already have a good insurance package, you can relax knowing that the pre-trip costs will be fully repaid.
The flight is postponed, the plan is delayed indefinitely or even cancelled completely are very good cases.
Never wait until the trip day comes (or worse, after you’ve arrived) to buy insurance. Not only will the cost be higher and the procedure will be more inconvenient, but you also have to accept the risk that the travel insurance package will not protect you the entire trip. Therefore, there’s no harm in preparing yourself a suitable travel insurance package from early on.
Choosing a yearly or individual insurance plan for each trip?
At first glance, it seems more appropriate to buy insurance for each trip, when most families only go on vacation once a year. However, the arrival of low-cost airlines has made travel easier and more frequent than ever.
If you plan to travel more than three times in a year, consider purchasing an Annual Travel Insurance Package, even if your destination is only close to Laos or Cambodia.
Buying annual insurance is more convenient (Don’t have to buy many different packages), as well as more affordable for your pocket. The Annual Travel Insurance package often provides more comprehensive protection for you and those accompanying you as well. Therefore, do not ignore the worth option if you have not thoroughly learned about travel insurance!
The credibility of the insurance company is very important
The more important thing is to choose the right insurance company that you can trust – you should spend a lot of time searching for this. It’s even more than choosing the right insurance package. This may not be obvious from the beginning, but when you need compensation, you want a company with global support 24/7 that responds to situations and behaviours quickly, simply and conveniently.
There are three important criteria, which customer need to consider when choosing an insurance company, our financial potential, experience and clarity in insurance policies. Then come to the cost is the final consideration when choosing. You should not go for cheap insurance companies with little prestige because the money you spend can be lost without getting any benefits.
Travel insurance does not replace health insurance
Although travel insurance has unforeseen accident or illness compensation provisions on the trip, it does not mean that travel insurance is likely to replace a comprehensive health insurance plan, by only New health insurance is able to support the most cost of medical examination and treatment in the country.
If you are looking for a more comprehensive insurance package when on vacation, choose insurance plans that offer emergency medical rescue services. The extra cost for these services can range from a few hundred to a few thousand dollars, depending on where you are going, but it is also an additional solution for you to feel more secure in each trip.
In addition, if you’ve ever had a medical history, it’s best to report it to the insurance company. Insurance will not compensate you if you have a health problem that has not previously revealed illness in the past. Refer to the case https://ibaohiem.vn/san-pham/bao-hiem-du-lich-quoc-te/ for your trip.
When your goal is medical treatment or medical care abroad, insurance will not help you at all. In case you are not fit to move or move against the advice of a medical practitioner, you will also not be paid compensation.
Credit cards often provide travel insurance
One of the incentives for credit card holders is international travel insurance, which many customers do not pay attention to.
What you need to know is that the supposedly free service is actually not free. In fact, you paid that premium in your credit card’s annual fee. In most cases, you need to use that credit card to pay your flight ticket to enable travel insurance, as well as pay for trip-related expenses with the same credit card, such as booking a hotel room or booking an airport shuttle.
Credit cards with travel insurance are great for cost savings, but you need to check in advance all related terms and preferences. Normally, a travel insurance package with a credit card will only cover the cardholder, so when travelling with your family, you need to purchase a travel insurance package for your loved ones separately.
All in all, participation in travel insurance gives you absolute peace of mind and protects yourself, your family is safe from any unexpected risks. All incidents have insurance coverage through compensation under the travel insurance policy, and wherever you are, travel insurance always has your maximum support team. Let travel insurance cover everything for you, you just need to travel and relax.