Things you probably didn't know about travel insurance - PowerPoint PPT Presentation

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Things you probably didn't know about travel insurance

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Be Safe and Secure while Travelling Travel Insurance is insurance that is planned to cover medical cost, trip cancelation, lost luggage : – PowerPoint PPT presentation

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Title: Things you probably didn't know about travel insurance


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Travel Insurance
Be Safe and Secure while Travelling
Travel Insurance is insurance that is planned to
cover medical cost, trip cancelation, lost
luggage, flight mishap and different misfortunes
acquired while voyaging, either internationally
or inside one's own particular nation. Travel
Insurance can normally be organized at the time
of the booking of an outing to cover precisely
the length of that excursion, or a "multi-trip"
approach can cover a boundless number of treks
inside a set time span. A few approaches offer
lower and higher medical-expense alternatives
the higher ones are mostly for nations that have
amazingly high medicinal costs, for example, the
USA.
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Types of Travel Insurance
  • Plans for corporate travelers
  • Plans for business travelers or vacationers
  • Student plans
  • Plans for corporate travelers
  • Plans for business travelers or vacationers
  • Student plans

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Types of Risks Covered
  • The most common risks that are covered by travel
    insurance plans are
  • Medical emergency
  • Repatriation of remains
  • Return of a minor
  • Trip curtailment
  • Trip cancellation
  • Trip interruption
  • Visitor health insurance

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Types of Risks Covered (cont..)
  • Accidental death, injury or disablement benefit
  • Overseas funeral expenses
  • Lost, stolen or damaged baggage, personal effects
    or travel documents
  • Delayed baggage (and emergency replacement of
    essential items)
  • Flight connection was missed due to airline
    schedule
  • Travel delays due to weather
  • Hijacking

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Cancellation, Curtailment and Trip Interruption
  • This section covers any unused travel and or
    accommodation costs, pre-paid charges (including
    any additional travel expenses incurred, provided
    they are deemed reasonable and necessary) if a
    trip is canceled or cut short under a variety of
    circumstances, which may include any of the
    following, depending on the policy
  • Death, bodily injury, illness, disease, or
    pregnancy complications
  • Compulsory quarantine
  • Jury service
  • Being called as a witness

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Cancellation, Curtailment and Trip
Interruption(Cont..)
  • termination of employment (provided you did not
    know about it before you booked the holiday)
  • being called up if you are a member of the armed
    forces or other public defense or safety
    organization
  • prohibition of travel by the government to the
    intended destination
  • officially recommended evacuation from the
    intended destination
  • official advisory against going to or remaining
    at the intended destination

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Optional Coverage
  • Some travel policies will also provide cover for
    additional costs, although these vary widely
    between providers.
  • In addition, often separate insurance can be
    purchased for specific costs such as
  • Pre-existing 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, natural disasters or acts of terrorism)
  • Additional ADD coverage
  • 3rd party supplier insolvency (e.g.
    the hotel or airline to which you made
    non-refundable pre-payments has gone
    into administration)
  • Acute onset of pre-existing conditions

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Common exclusions
  • Pre-existing medical conditions
  • Elective surgery or treatment
  • War
  • Terrorism - Most trip cancellation policies
    include terrorism but only when there is an act
    of terrorism that meets the policy's criteria
    including definition, place of occurrence and
    date of occurrence.
  • Injury or illness caused by alcohol or drug use

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