If you are someone who travels a lot, the best gift you can give yourself is a travel insurance policy. In this article, we will explain everything you need to know about the different kinds of travel insurance options available in the market and how they can prove to be extremely beneficial.

What does travel insurance cover?

Travel insurance plans are primarily divided into three categories. They are as follows:

Major Medical and Travel Medical

With these insurance covers, an individual can avail medical protection in case of illness or injury while travelling. The only difference between the two is the duration of coverage.

Travel medical insurance is a short-term medical cover. This can range from five days to one year, depending on the kind of policy you opt for. On the other hand, major medical insurance is a type of policy that offers more coverage (for a higher premium) for people planning to travel for a longer duration.

Such types of insurance covers include medical expenses and even assist you in locating hospitals, healthcare facilities and doctors. Besides, in case of illness or injury, while travelling overseas, you are offered foreign language services too.

Trip Cancellation

Trip cancellation also is known as trip delay insurance or trip interruption insurance, helps you in case of cancellation or postponement of your trip. Policies would differ with different travel insurance plans, but below is what most policies cover:

• Weather issues
• Missed connecting flight
• Change of plans
• Sudden business conflicts
• Injury or illness
• Delay with a passport or visa processing

There are some policies that also include additional covers like the ones listed below:

• Terrorism act
• An accident while travelling to the airport
• Flood or fire

Accidental Death or Flight Accident

Just like life insurance, this type of insurance offers benefits to a traveller’s surviving beneficiaries in case of an accident causing death or serious injury.

How to purchase travel insurance?

Travel insurance can be purchased in three ways: –

1. Pre-trip Coverage

This type of insurance policy is designed for people who travel occasionally. The policy offers great coverage and is perfect for anyone who likes to take a break once in a while and explore a new destination.

2. Multi-trip Coverage

As the name implies, this type of insurance provides protection for travellers who travel often or take multiple trips during the span of one year. However, before making your purchase, you must know that this policy will not cover your expenses if your trip lasts more than 30 days.

3. Annual Policy

This is the perfect type of policy for frequent travellers or the ones who travel regularly as it provides a traveller with coverage for a full year.

The cost of each policy varies on the coverage provided and the duration of travel.

Do you really need travel insurance coverage?

You need to ask yourself several questions before you plan to buy a travel insurance policy. Here are few questions that should top your list:

• Are you taking part in high-risk sports?
• Will you be travelling overseas?
• Would you be able to afford the cost of the trip back home in case of an emergency?
• Would you be able to afford medical care in case you or someone you are traveling with falls sick?

These are circumstances you should think about. Now before you buy a travel insurance policy, consider all the factors carefully, do your research, compare prices and then make your decision. After all, travel insurance is more than just an ordinary policy. It is a must have to turn your dream vacation into a memory for a lifetime.