Purchasing travel insurance is wise for protection against an unforeseen event such as natural disasters, missed flights, or medical evacuation.
Some countries will deny permits without having any travel insurance. The Schengen countries, Thailand, Japan, and many more require travel insurance to grant entry. Make sure that you check the countries travel insurance requirement to ensure you meet their standard condition.
There are several different types of travel insurance which are: trip cancellation and interruption, medical, flight insurance, baggage, and evacuation. The various types are usually offered in some combination. Generally, you will purchase a package that will cover most or all of the benefits.
The main types of insurance you may consider to purchase are standard traveling insurance and travel medical insurance. Note that they are two different types of insurance and are complementary to one another.
Travel Insurance
The standard travel insurance protects the financial investment in a trip. The plan typically covers incidents in regards to trip cancellation, interruption, delays, lost baggage, personal liability, evacuation in the event of an emergency, and/ or any losses while traveling.
Medical Travel Insurance
Medical travel insurance, on the other hand, is designed to cover health care costs outside of your home country. The policy cover for emergency medical expenses, evacuations, third party liability, and 24-hour assistance services. Depending on your policy wordings the insurer may also cover for lost baggage.
Please note that medical travel insurance alone does not cover flight-related issues such as trip cancellations, interruptions, and any other non-related medical expenses.
Comprehensive Travel Insurance
Comprehensive travel insurance offers the best protection for your trip. Generally, a comprehensive plan will cover for cancellation fees, lost deposit, emergency medical and medical evacuation, baggage or personal item loss, and 24-hour assistance.
It is highly recommended to read the fine prints and to ask as many questions regarding your coverage to be sure of the services you are purchasing. Every insurer has different wordings therefore coverage may vary from various policies.
When traveling for a long term period (a year or more), we highly recommend purchasing an expatriate health insurance instead. Expatriate health insurance provides more comprehensive coverage than traveling insurance. If you want to know more please read our previous blog covering on this topic on the link below.
Having good health is key to a great adventure and experience during your travels. Knowing that your health insurance will have your back may provide ease of mind wherever you are in the world.
