Travel insurance covers the costs and losses incurred at the time of traveling. It is very beneficial for those who travel abroad as well as domestically.
Many Americans prefer to purchase abroad Travel Insurance post COVID-19, At the same time many Americans choose domestic Travel Insurance on their domestic trips.
What is Travel Insurance ?
Travel insurance is a type of insurance, which covers different types of risks. Risks cover lost luggage, flight cancellation, medical expenses, and other losses incurred due to travel. Travel insurance provides comprehensive coverage at the time of an emergency abroad. It’s a more popular insurance for traveling abroad. In domestic travel, also much coverage is provided.
Coverages include 24/7 emergency services. Like rebooking canceled flights, lost passport replacing, flight accidental coverage, medical expenses etc.
Baggage and Personal problems Coverage
It covers your stolen or lost or damaged belongings during travel. Most of the airlines cover the lost luggage and other related effects, but they may be limited to. So this baggage and personal problem coverage gives an additional protection.
Short term Medical Coverage
Medical travel insurance are two types. One is short term and another is major medical coverage. Short term covers from 5 days to one year. Major medical covers 6 months to 1 year or more.
This medical covers doctor location, medical expenses, airlift travel to hospital in foreign locations etc. It depends on the insurer facility.
Trip Cancellation coverages
Trip cancellation or on trip delay, insurance reimburses the non refundable travel expenses. For this many acceptable reasons are weather related issues, illness etc.
Flight Accident or Accidental death Coverage
If an accident happens during travel, and death, disability to the traveler or his family member as co-traveler, then flight accident policy pays benefits to the survivor. Accidental death coverage would be an additional amount of benefits to the survivor as your regular life insurance benefits come.
Hope this Travel info will give more precautions before a trip. We will come up with many Financial Tips for you soon. For any kind of Travel Insurance, Please contact our license holding expert insurance team-PLENTYSURE (www.plentysure.com). For any kind of Insurance analysis or investment advice (only for NRIs-Non Resident Indians), Please contact our world class Financial Planning CFP professional team (www.moneygrainsexports.com).
Which Travel Insurance do you prefer ? Do write in comment
Thank You,
Team PLENTYSURE
Jyoti Prakash Nayak, B.Sc MBA BA CFP
CERTIFIED FINANCIAL PLANNER & FINANCIAL WRITER
E: moneygrains.invest@gmail.com / WhatsApp : +91 8792238909
Web: www.moneygrainsexports.com
