There are various types of travel insurance plans you can choose from, but if you are simply a tourist, you do not need a tailored plan. Your travel agent may offer you a series of insurance packages that are suitable for your desired location and the time of year. Many travel insurance packages allow you to pick and choose what you would and wouldn’t like. Here are a few of the most common examples of the choices you may be given.
If your trip is cancelled, this type of insurance ensures you are not too heavily out of pocket, and helps to ensure that some of your expenses recovered.
If your trip is interrupted and it is not your fault, then you may be able to seek compensation via your trip interruption policy. There are some packages that also cover a small amount of any medical bills.
Cancel For Any Reason (CFAR)
Though it is more expensive, this insurance helps you recoup some of your losses if the trip is cancelled for any reason, even if the reason is your fault.
People lose their baggage all the time on planes and trains. This insurance covers your baggage, but you have to be careful as to what you expect. For example, some cover your baggage if it is lost by the airline, and some cover if it is lost at all. Some companies may not pay up if you lose your baggage on a plane, in a taxi, or even in the airport, so be sure you understand the policy before you take it out.
This is the most common type of travel insurance. It helps to pay your medical bills if you seek and/or need treatment. Even countries such as UK and Canada, where the health service is free, you may still be expected to pay large medical bills if you use their medical services.
Pre-Existing Conditions Insurance
Some medical insurance policies will not pay out for pre-existing conditions. Some medical insurance companies will ask that you take out “Pre-existing conditions” insurance either as a separate entity or as an addendum to your travel medical insurance package.
You may choose “Evacuation” as part of your travel insurance policy. Evacuation is also known as med-evac, and they pay to take you to the nearest hospital or to take you home. Some evacuation plans also get you repatriated if you cannot get home for one reason or another. The type of evacuation insurance you take depends on where you are going and the policy small print. For example, evacuation insurance will mean a different thing if you are visiting the Congo rather than if you are visiting Las Vegas.
Accident And/Or Travel Accident
You may hear it referred to as travel accident insurance, and it is often referring to AD&D (accidental death and dismemberment). It pays out if you have an accident that is not directly your fault.
Annual Travel Insurance
Just like it is suitable for some people to have medical insurance that goes on all year, some people also benefit from travel insurance that goes on all year long. Obviously, it only applies to people that are doing a lot of travelling through the year.
Travel And Baggage Delay
Your trip may be hindered or your opportunities lessened if part of your trip is delayed or your baggage is delayed. Under some circumstances, you may make a claim with this type of travel insurance.
24/7 Worldwide Assistance
This is usually reserved for people that have to travel to numerous locations quite often, or to people that are visiting less-tourist areas where uncommon problems may arise.
There Are Others…
This is not a comprehensive list, there are many types of travel insurance, such as rental car travel insurance, kidnap and ransom insurance, and so forth. It all depends where you are going.