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Travel Insurance
Travel Insurance
What exactly is travel insurance and how do you know if you need it or not? Travel insurance is insurance that is designed to cover financial and other losses incurred while traveling. You can have travel insurance for both national and international travel. Travel insurance protects you against cancellation and interruption and also reimburses medical expenses, loss or damage of property and more.
When you book your trip, you can usually arrange for travel insurance either from insurance companies or banks. Many travel agencies already have relationships with travel insurance providers and can help you purchase a policy which covers just the time of your trip.
The most common risks covered by travel insurance include:
- Cancellation
- Curtailment
- Delayed departure
- Loss, theft or damage to personal possessions and money (including travel documents)
- Delayed luggage (and emergency replacement of essential items)
- Medical expenses
- Emergency evacuation/repatriation
- Overseas funeral expenses
- Accidental death, injury or disablement benefit
- Legal assistance
- Personal liability and rental car damage excess
- Loss of income
Travel insurance can also be purchased for:
- high risk sports (e.g. skiing, scuba-diving)
- travel to high risk countries (e.g. due to war or natural disasters)
Travel insurance is a way to protect yourself against unforeseen problems which may arise while you are traveling. You will not regret getting travel insurance even for the sense of security you will have by purchasing the coverage. It is generally not very expensive, and if there is a problem, it certainly will pay for itself.
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