Here's a list of common things a good travel insurance package may cover:
- Personal accident and medical expenses: Travel insurance provides you the benefit of monetary compensation for accidents incurred during your holiday. This includes severe injuries and accidental deaths. Bear in mind that the likelihood of food poisoning or other illnesses is higher when you are exposed to a new environment. Hence, with travel insurance as your sense of protection, you can worry less on the expensive medical costs abroad.
- Cancellations and travel delay: This covers sudden trip cancellation or travel delays due to events beyond your control. If your flight is delayed by a certain number of hours, your travel insurance policy may reimburse you reasonably for the inconvenience as well as any cost of accommodations, if incurred. Of course, this would depend on your insurance policy terms.
- Loss of possessions and theft: Being extra careful may just not be enough for some situations. If you lose your luggage or other personal belongings, a travel insurance policy normally compensates you and helps you with all the lengthy procedures involved (e.g. if you lose your passport).
- Repatriation: You may not be well versed with the formalities that come along with repatriation should one of the travelers dies abroad. But with a travel insurance policy, the insurance company will normally handle all the hassles. The insurance company will normally cover the arrangements from transportation to the fees incurred for the entire repatriation process.
Having a good travel insurance package for you and your family not only gives you financial assistance in times of need, but also a peace of mind knowing you are well prepared for emergencies.
However, before taking up a travel insurance policy, be sure to shop around and compare all the packages available for you to ensure you are adequately covered. Also, be wary of the exclusion clauses - which are clauses in your contract that specify things that are not covered by your travel insurance policy.