Significance of International Travel Insurance
Travel insurance is very essential, especially if you go for an international trip. This travel insurance usually covers medical expenses, financial or any other losses incurred while traveling. Travel insurance is arranged at the booking of a trip to cover exactly the duration of that trip.
Various insurance companies have their own policies with an international emergency assistance group which provides the actual emergency assistance and medical evacuation if necessary. Along with evaluating the primary travel/theft elements of your policy when you get international travel health insurance, you need to confirm what the emergency assistance component offers.
There are different types of international travel insurance plans available when you are outside your country.
Comprehensive travel medical insurance :
This plan is best suited for people who have no medical coverage, even in their home town for those who travel a lot or are posted on a job outside their country of citizenship.
Medical evacuation insurance
Evacuation is very expensive and is not really necessary, because most countries today have excellent medical facilities to take care of emergencies. Such medical travel insurance plan is best suited for sportsmen taking part in extreme sports who may need immediate and advanced medical attention which covers costs of an air ambulance and the cost of doctors and nurses in the place of injury.
Emergency travel medical insurance:
People who have medical insurance at hometown, but it doesn’t include traveling medical aid, then this kind of plan covers emergency medical services abroad and the post incident care has to borne at home by the individual or the existing medical cover at home. Make sure that your home cover does not include travel cover before you opt for emergency travel medical insurance.
Supplier default insurance:
This insurance plan will cover any monetary losses borne by you in case of the airline or operator you are traveling by goes bankrupt. They will reimburse for lost items.
Trip cancellation or interruption insurance:
This insurance plan covers the penalties levied due to cancellation of the trip for reasons as specified. They will pay you back if you cancel the trip for certain scheduled reasons whatever the reasons may be either injury or illness to the insured or a person of his/her family, or a travel companion.
Hence, as illness is uncertain and it can spoil the planned trip in situations like loss of passport or baggage while traveling internationally, the medical bills and financial difficulties faced by you abroad are taken care of when you have travel insurance.