Travel insurance is among the most necessary things that we need to consider before planning a trip. Very often, when we plan to travel abroad, we tend to neglect the opportunity that something can go wrong. We all prefer to think that we will get to our final destination without any problems. Well, lets be realistic – this is the situation in less than 10% of the cases. That is why it is very important to be predictive and expect the unexpected. This may save you a lot of problems in the future.

Why do you need a travel insurance?

In order to answer to this question, there are some questions that you need to answer first. Are you planning to travel abroad? Can you afford to take care of yourself (or some other person) in case of sickness or injury? Do you have enough money to get back home in a case of emergency? All these questions are very important when deciding whether the travel insurance is worth the bother or not.

What do you need to consider in order to choose the right travel insurance for you?

• What kind of traveler(s) are you?

◦ Families
◦ Groups of students / scholars / friends
◦ Honeymooners
◦ Business travelers
◦ Volunteers and missionaries
◦ Singles

• What kind of travel you have planned?

◦ Business trips
◦ Adventure trips
◦ Last minute trip
◦ Family trips
◦ Vacations etc.

Different types of travel insurances.

According to the different type of travelers and trip, there are a lot of different types of travel insurances. Here are some of the most popular.

Travel Medical Plan

This type covers medical emergencies, accidents, sicknesses etc. It is extremely important in case you have planned to travel in a foreign country. However, you must be very careful, since in most cases the coverage of this type of travel insurance is very limited. So if you have planned to pay for such an insurance – pay attention on the fine print!

Travel Accident Plans

This type of insurance provides international protection in case of accident and death. It is similar to the traditional life insurance. This type of travel insurance is extremely suitable for frequent travelers and in case you have planned some adventure trip to a distant country.

Specialty Travel Plans

This is another specific type of travel insurance. It covers the so-called one-off needs – cars, term life etc. They are appropriate for people who have some some concerns about a particular travel risk.

Baggage Loss Insurance

This is a very specific type of travel insurance. Have you ever experienced the pain of taking off the plain, getting the first taxi you see in front of the airport and a few minutes later, when you have already got stuck in the traffic jam on your way back home, realizing that you have lost your baggage. Baggage loss insurance is definitely a wise choice in such cases. Also, very often it includes the cases when your bags are more than 12 hours delayed after you have arrived.

Trip Cancellation

This is the last in our list. Trip cancellation or interruption insurance covers the cases when your travel has been canceled or interrupted by some unforeseen events. However, once again you have to be very careful when choosing your trip cancellation insurance. Very often, policies exclude some very important cases – war; civil disturbance and even job loss right before your trip.

Morgan has many years of experience in business and finance. He works as a manager of Shiny London and has a lot to share.

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