Make sure you Read the Small Print
Going on an overseas trip, especially if it’s your first time, must be one of the most exciting happenings in one’s life. Sure, some people are privileged to travel overseas on a regular basis – whether it is for leisure or business; but for most of us it may only happen once or twice in our lifetime.
Travelling overseas – why do I need to take out special insurance?
You have so many things to organize for your overseas trip and insurance may be the last thing you think about, if you even give it any thought at all. You may argue that the bank will look after that as you receive “free” insurance when paying for air travel with a credit card. While that may be true we urge you to rather spend a little more time and find out exactly what your travel insurance covers and what not.
Many things can go wrong on an overseas trip, just the thought of a tsunami should make one realize that you need to provide adequately for travel insurance.
What types of Travel Insurance is available?
There are various travel insurance products available on the market, for example business, leisure, cruise or student – all geared toward the specific needs of the insured.
What is included in Travel Insurance?
Travel insurance include a number of insurable risks but, as with all short-term insurance, there is no standard travel insurance policy and you need to make sure that the policy you take out provides cover that is suited to your individual insurance needs. In most cases you will find the following risks being covered: Lost Luggage, Personal Liability, Journey Cancellation or Curtailment and Medical Cover.
Limits will apply to all covered risks
Each type of risk will be covered for a limited amount. The amounts may not be sufficient for your needs. Usually you can request increased cover for specific risks – look at your individual needs.
Medical Cover included in your Travel Insurance
You may be young and in excellent health and think that you can get by without medical cover but that would be a very unwise decision to make. Being in a foreign country will expose you to many unknown risks. It’s not only illness you need to think about but accidents can happen anywhere, any time. The last thing you want is to end up in a strange country without any medical assistance available to you. Make sure your policy includes the cost of flying you home after hospitalization should you no longer be able to continue your overseas stay.
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