Trip insurance helps reduce some financial losses incurred on a
trip due to delays, cancellations or unforeseen circumstances.
Travel insurance is broader in nature, and even includes
insurance of trip delays, interruptions, cancellations and other
related problems. Additionally, it may also cover medical
expenses or health emergencies that may arise during the trip.
The expenditure incurred while travelling can be quite
substantial and delays and unforeseen circumstances may cause
you additional financial loss. Moreover, there are several
things that cannot be anticipated. While trip insurance can
provide protection against such losses, travel insurance
provides the extra assurance that expenses will be covered for
medical care, hospital admissions, emergency dental care etc. It
is thus imperative to have trip and travel insurance coverage.
In addition to hospital admission and travel related medical
assistance some insurance plans include referral services such
as:
Translation Services Referrals to medical or legal personnel
Inoculation Information Emergency Cash Advances Bail Bonds
Replacement of eyeglasses or prescription drugs There are three
basic types of supplemental health insurance coverage:
The first plan includes insurance purchase for each trip or a
plan for all travel during the year. It is limited to medical
expenses and medical evacuation coverage while travelling. The
second plan is designed for customers of a tour company or
cruise line and sold through the tour operator with whom you
scheduled the trip. This type of plan would probably include
trip cancellation benefits as well as medical coverage. The
third plan is a package that includes trip cancellation and
related trip insurance coverage as well as medical coverage.
Some dangerous sports like hand gliding and glacier skiing may
be excluded in the travel coverage. If you want to be insured
for this, you may have to opt for a higher premium plan.
The cost of travel insurance depends on the company you chose
and the coverage details. Typically, the cost of insurance will
be 5% to 12% of the cost of the trip. One should buy coverage
from a third party travel insurer that is financially sound.
This is because, in the event that the trip company becomes
bankrupt, the travel protection that they issue will be
worthless. Only a portion, or none, of any outstanding claims
might be paid. You could also buy travel insurance directly from
the insurance companies.
If you are planning on travelling frequently, you might want to
buy a yearly policy and save some money. Some travel insurance
providers have plans specifically designed for student budgets
on trips such as spring break travel, class trips, or study
abroad. Typically, they provide coverage for trip cancellations
or delays, medical emergencies, baggage problems and accidental
death.
Some premium credit cards provide limited flight or travel
insurance benefits such as emergency evacuation to an
appropriate medical facility or baggage delay when the travel is
charged on that credit card. You should check with your credit
card company to find out what benefits are offered and if there
are any restrictions.
About the author:
William Brister - Your Guide
To Getting Insured.
Copyright William Brister / Jayde Online, Inc. 2007.
This article is courtesy of GoArticles.com.
