How to get travel insurance

Traveling is always fraught with uncertainty. Travel insurance acts as a protection, allowing you to venture out with confidence. It is intended to cover large financial risks that you do not want to bear on your own during travel.

It may not be necessary to get insurance during short inexpensive trips, but with international trips or long expensive trips, it is advised to ensure your trips, especially during this covid pandemic era.

There are numerous policies out there, and choosing the best one for you is dependent on your specific circumstances. Read along as we examine the most common policies, and requirements, determine the factors that influence the cost, present various travel insurance products, and demonstrate how to get covered.

Types of travel insurance

Travel insurance has several plans some of which include

  • Trip delay and cancellation coverage
  • Loss of luggage coverage
  • Medical expenses coverage
  • Emergency evacuation coverage
  • Rental car coverage
  • Accidental and dismemberment insurance

Trip delay and cancellation coverage: if for any reason an insured chooses to delay a trip or cancel, the insurer takes care of the additional expenses needed to rebook another flight. Also if the delay is from the airline company may be due to weather engine fault etc the insurance company pays the insured for alternative lodging and feeding.

Loss of luggage coverage: if the luggage of a policyholder gets missing, stolen, or damaged during travel, the insurance company reimburses the policyholder. Some insurers also offer coverage for any extra expenses incurred due to delay in baggage arrival within a time frame usually 12 hours.

Medical expenses coverage: during travel, there are several risks involved and one of such risks is incurring medical expenses. This coverage covers the medical expenses made if the insured gets sick or injured during the travel. 

This coverage includes transportation to the nearest hospital or travel expenses to return to the home country for treatment.

Emergency evacuation coverage: in case of any reason to evacuate the insured either due to terrorist activities or natural hazards, the evacuation expenses flight ticket inclusive are covered.

Rental car coverage: 

This type of coverage pays for damages made on cars the insured rented during travel. It covers damages caused by accidents, natural disasters, or vandalism. It does not pay for third person liability like damages on another person’s car or injuries done to another person by your car.

Accident and dismemberment insurance: 

If the insured dies during travel, the insurer pays his beneficiary a lump sum of money as compensation, or if the insured gets disabled e.g lose a limb, a hand, hearing, sight, or speech the insured is compensated. Some insurance companies only cover death during flights.

Factors that affect the price of travel insurance

There are some factors that determine the cost of travel insurance, the price may differ from person to person even if you are buying from the same company. These factors include:

  • Cost and length of trip: the cost and length of a trip highly determine the price for coverage. the longer and more expensive a trip is, the higher the cost of the policy.
  • Age: the higher the age the higher the policy cost.
  • Cost of health care: the cost of healthcare in the country of destination may increase the price of the policy if the cost is high.
  • The range of coverage: the more risk a policy is meant to cover, the higher the policy cost.
  • Medical condition: the type of medical condition the insured wants to be covered has the tendency of increasing the policy rate.
  • Extra supplement: Adding supplements like “cancel for any reason” etc can increase the rate of policy cost.
How to get travel insurance

There are different ways to get your travel insurance. 

  1. Credit card: some credit cards offer some components of travel insurance if you book your trip with them.
  2. Travel agent’s sites: when you book your hotel, flight, or car rental, some sites include insurance cover for your trip in their offer.
  3. Travel insurance company: one can buy a policy from an insurance company. You can customize your plans to fit your needs.
  4. Travel insurance comparison sites: there are sites where one can compare prices and components of the policy of different insurance companies before choosing the one that benefits them.

Before getting travel insurance on your next trip, bear all these in mind.