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Types of Travel Insurance: Which One is Right for You?

In the modern world, people are constantly traveling and can do many things during their travels thanks to advancing technology. For example, if you want to play the Fire Queen slot during your flight, it will take a few minutes at most to find an online slot casino that offers you this game. However, despite all these conveniences, traveling still means taking some risks. An unaccounted accident can ruin your entire journey or cause you a loss so great that you go bankrupt. Travel insurance protects you from this. So, what dangers can you insure during your trip? What are the types of travel insurance and how do they protect you? We will answer all these questions below.

Types of Travel Insurance

Interruption Insurance

This is also known as “trip cancellation” insurance. After you have planned your trip and purchased your flight ticket, for example, you may need to cancel or postpone it due to an unexpected incident. Imagine that you have to postpone a vacation you fully paid for at least a year due to a medical crisis. Are you sure you can get your money back? The problem may not always be this serious: let’s say there is a strike at the airport, and your plane is delayed to the next day. But you have no money left for accommodation – what can you do?

If you have purchased interruption insurance, it is possible to solve all these problems easily. In the event that the trip is delayed, this insurance will refund you all the money you have paid. It also covers your extra expenses for short-term delays. For example, if your flight is delayed as in the example above, your accommodation expenses will be paid by the insurance. For business people, the monthly payment for this insurance ranges from 40 USD to 130 USD. 

Medical Insurance

It is the most common and best-known example of travel insurance. This is because the USA and most European countries have set medical insurance as a visa requirement. So, if you travel to the United States or countries in Europe and need a visa, you will have to buy this insurance. 

Medical coverage pays for possible health problems in the country you visit, as the name suggests. It is possible to say that it has two types, emergency and non-emergency. Hospital expenses, doctor fees, treatment costs and even medicine costs are covered by it. It is an insurance that must be used by every traveler, as in some countries (e.g. the USA) medical expenses can cost hundreds of thousands of dollars even for simple operations. However, we recommend that you check whether your current medical insurance is also valid abroad before purchasing it. Multinational companies (e.g. AXA SA or Allianz SE) sometimes continue to offer their local services in other countries too.

Evacuation Insurance

Say hello to one of the biggest secrets of the insurance industry. Medical insurance, as a general rule, covers all your expenses in the hospital, but the key phrase here is “in the hospital.” So how will you get to the hospital? What if you have to use an ambulance and get emergency medical aid? Interestingly, the costs incurred until you get to the hospital are not included in medical insurance – you need to buy “evacuation insurance” for them. This is more important than you think, especially if you travel to third world countries. Imagine taking a stroll in the Amazon jungle and feeling unwell: your medical insurance will cover your hospital expenses, that’s for sure, but if you don’t have evacuation insurance, no one will bother to get you to the hospital. However, this coverage allows you even to use a helicopter ambulance from the middle of the jungle to reach the hospital.

Baggage Loss Insurance

This is a very useful insurance, but you must know how to use it properly. If your luggage or certain personal items are lost during your trip, this one will compensate them financially. Moreover, most of the time, you only need to fill out a form and file a declaration. The trick is, however, that this insurance is almost useless for items worth more than $1,000. If you have a truly valuable item, we recommend that you secure it with separate property insurance. Baggage loss coverage is useless for valuables such as laptops and cameras.

Life Insurance

Even if this is not a pleasant possibility, you may die in the country you are visiting (or on your way to that country). This insurance pays your heirs in such a situation and is no different from traditional life insurance in this respect. However, as almost always, there is a trick here. The standard version of this insurance covers only fatal accidents during the journey (e.g. air travel) and accidents that may occur once you reach the country you are visiting are excluded. If you want life insurance that covers your entire trip, you must request it specifically.

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