Travel insurance is insurance against the likelihood of something bad happening to you whilst you are on vacation, or otherwise out of your country of origin. Because many different countries have many different laws, systems and approaches to dealing with things like theft, healthcare and so on, and because you are likely to be out of the country for only a short while, travel insurance is often a fairly comprehensive policy designed to indemnify you against financial burden as a result of any mishap on your travels.
For example, the healthcare system in South Africa is different to the healthcare system in the US. It wouldn’t be prudent or feasible for you to take out health insurance with a South African health insurer if you are only going to be staying for one week. So, instead, you can buy travel insurance, which should include healthcare bills. This way, if you get sick or injured abroad, you can give them your travel insurance details instead of health insurance. The bill will get paid, and you won’t have to pay out of pocket for healthcare in a foreign country, which could be very expensive.
Comparing travel insurance
Travel insurance is highly recommended for those going abroad for short to intermediate amounts of time. Because it is so important, it is equally important to get the right kind of travel insurance for you. You should go online to make travel insurance comparisons. This is because travel insurance can be provided by many sources these days, and so for you to travel around your town or city looking for the right insurance would be time consuming, and the transport costs could be expensive. In addition, you might feel pressured to buy inadequate insurance if you speak with a persuasive insurance salesman.
When checking on the internet for travel insurance, you should ideally try to get as much coverage as you can for as little money as possible. In order to do this, you can go to travel insurers’ websites, or you could go to a website which makes direct comparisons between travel insurers. You may also want to consider buying travel insurance as part of your vacation package. Many travel agents will offer insurance at discounted rates as an incentive for you to buy tickets, hotels and accommodation through their business.
What is covered by travel insurance?
In your everyday life at home, you probably have a great number of insurance policies: home insurance, life insurance, car insurance and health insurance, to name a few. Unfortunately, most of these will only apply to where you live, as the same systems in different countries will have different laws and insurance rules. So, what do you normally get cover for when you buy travel insurance?
You almost always get health insurance. Travel insurance provided health insurance means that in the event that you get sick or injured whilst abroad, you will be able to enter into a hospital and get treatment without needing to pay the fees out of pocket that you would have to without insurance. You can also get life insurance as a provision of your travel insurance.
This often includes provisions for repatriation of remains, in the event that you lose your life, but still want to be buried in your country of origin. If this isn’t a large worry, then you may be insured for funeral costs overseas.
You can also get car insurance provided as part of your travel insurance, though this is usually optional and dependent on your using a rental car.