Travel insurance is a knowledge that should something goes wrong while you are abroad, you won’t be responsible for finding out the money to put it right, at a time when you are already stressed out. As with all insurance policies it is important that you read the policy document carefully to insure that the cover you require is included, this is specially the case if you are of the sporting or adventures persuasion as many activities increase the risk of injury and therefore may not be cover as standard or may only be covered for a limited frequency during the period of insurance.
Travel insurance policies comes in various forms but most policies include the following categories to cover, although you should always read the policy wording to find out what is and what is not covered by particular policy, also different policies may have the benefits in separate categories or bundle them under one heading:
Emergency medical treatment
It covers the cost of emergency medical treatment; this usually involves being treated at the hospital but not necessarily. Prior authorization by the insurer is normally required if the expected cost of treatment is likely to be above a fixed amount set out in the policy wording.
Emergency medical assistance
It covers the cost of emergency medical assistance. Mainly getting someone to hospital, whether that is the cost of the road ambulance or where necessary an air ambulance or sea rescue, although you must check that you are covered for the activity i9n which you are participating when injured or becoming ill.
It covers the cost of returning to your home country after receiving medical treatments, with an accompanying medical professional where necessary.
In the event of there being no hospital capable of treating you locally, this section of the policy covers the cost of transporting you to the nearest hospital that can treat you, even if it is in another country.
It provides a small daily amount to cover incidental cost of being a hospital in- patient abroad. Usually has a minimum length of stay requirement and a maximum limit on the total benefit paid?
Cancellation, curtailment & trip interruption
It covers any financial loss, irrecoverable by other means, such as lost deposits or non- refundable transport costs; you suffer as a result of having cancelled or cut short your trip or having to return home suddenly.
It covers additional costs if you miss your scheduled means of transport for departing your home country and the first international means of transport on the return journey. Cover under this section is usually restricted to incidents out of your control such as failure of public transport or your own vehicle breaking down.