There are a lot of horror stories about traveling that would make people hesitate to travel, especially those without insurance. However, there are also stories about travel insurance that would make some people hesitate in getting one but no matter how people may see it, travel insurance plays a very important role for everyone. In fact, some would even say that if you cannot afford a travel insurance, then you may as well travel.
Others perceive this type of insurance to be pretty complicated and since no one wants to play the guessing game in getting something as important as this, here's a simplified breakdown of what you'd need to know when it comes to must-have travel insurance and which one would work well for you:
Travel Accident: This is a great type of travel insurance if you are apprehensive about life insurance and AD&D (which means accidental death and dismemberment). AD&D is mainly focused on this type of plan and it gives travelers term life benefits and international accident protection. It also gives emphasis on the benefits of term life insurance which take effect during the insured person's travel, providing it is within the covered period or the trip is insured.
Travel Medical: often times, this may have benefits that are comprehensive-style, however, those may oftentimes be limited. This gives medical emergencies coverage and covers emergency evacuations and accidents. This type of plan is best for expats who live in a different country. If you are planning to leave your home country for vacations or business trips abroad. This would also be ideal for work or study abroad which can take a long period of time.
Vacation Plans: this type of plan is a must-have and is also known as either Trip Cancellation Insurance, Travel Insurance or Package Plans. This also gives you great coverage and this is the most sold travel insurance, with over 94% sales.
Comprehensive Trip Insurance: this is a package plan which is mostly used by most travelers as this covers most of their needs. Those coverage includes cancellations, hurricanes, evacuations, interruption, stolen/lost or delayed luggage and more. It's ideal for vacations, family trips, traveler worried about wasting money on a canceled trip or simply just family trips. It is also known by other terms such as Comprehensive Travel Insurance, Trip Insurance or simply Trip Insurance.
Often times, travel insurance would end the second you get home. This would mean that if you came home earlier than what is stated in the policy, the "unused" part or section can have a possible refund.
Please keep in mind that the coverage for different types of travel insurance and their descriptions would vary per company. Since it's basically a legal contract and involves very important matters, it is highly suggested that you take your time in going over the paper works to thoroughly check the policy and read the fine prints.
This article is copyrighted by Travelers Today, the travel news leader
