Travel insurance is insurance that is intended to cover medical expenses, financial (such as money invested in nonrefundable pre-payments), and other losses incurred while traveling, either within one's own country, or internationally.
Travel insurance can usually be arranged at the time of booking of a trip to cover exactly the duration of that trip or a more extensive, continuous insurance can be purchased from (most often) specific travel insurance companies such as BUPA Travel, insurance companies or travel agents.
Travel insurance often offers coverage for a variety of travelers. Student travel, business travel, leisure travel, adventure travel, cruise travel, and international travel are all various options that can be insured.
The most common risks that are covered by travel insurance are:
- Medical expenses
- Emergency evacuation/repatriation
- Overseas funeral expenses
- Accidental death, injury or disablement benefit
- Delayed departure
- Loss, theft or damage to personal possessions and money (including travel documents)
- Delayed baggage (and emergency replacement of essential items)
- Legal assistance
- Personal liability and rental car damage excess
Some travel policies will also provide cover for additional costs, although these vary widely between providers.
And in addition, often separate insurance can be purchased for specific costs such as:
- pre-existing medical 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 or natural disasters or acts of terrorism)
- pre-existing medical conditions
- war or terrorism - but some plans may cover this risk
- pregnancy related expenses
- injury or illness caused by alcohol or drug use
Travel insurance can also provide helpful services, often 24 hours a day, 7 days a week that can include concierge services and emergency travel assistance.
Most policies are subject to an excess.
REQUIREMENTS TO PLACE COVER
- Completed proposal form with a medical questionnaire
- Payment of premium