Generally, one makes a substantial and comprehensive money plan for traveling. If you face any unforeseen circumstances during your travel, you will lose more money than otherwise and you might face an interruption or cancellation of the trip. A travel insurance plan offers you protection against such losses. Based on the plan that you select, the coverage will differ. Let us see some frequently asked questions and the answers for them.
What Is The Difference Between Personal Insurance And Travel Insurance?
Travel insurance is designed specifically for losses and inconveniences faced during your travels. It provides cover for most of the unforeseen circumstances that you might come across during traveling, apart from medical insurance and baggage insurance. You will not have deductibles with baggage insurance as you would find with personal insurance.
When Should I Buy Travel Insurance?
It is better to buy it as soon as you plan your trip.
Should I Go For Single Trip Travel Insurance Or Multi-Trip Travel Insurance?
Single trip insurance is the best thing to go for if you plan to travel just once or twice in a year. If you need to go for more than two trips in a year, multi-trip insurance is a good option.
Which Type Of Travel Insurance Is Suitable For A Cruise?
You have to select between the policy offered by the cruise line and the third party insurer. The cost of the insurance from a cruise line will be cheaper as compared to that of a third party insurer. However, it will be difficult to make the claim if the cruise line goes belly-up. If you want to face lesser risks, it would be better to go with a third party insurer.
What Determines The Premium?
That would depend upon the insurer and the plan that you go in for. The cost of the trip, age and duration of your trip determine the interruption/cancellation cover. Age and prevailing conditions determine the medical coverage.
Can All The Members Of My Family Covered?
Yes, the policy covers all the members of your family on travel.
How Can I Be Sure About The Coverage Of The Plan?
You should read the policy carefully. That would surely help if you need to put in a claim for any losses.
Does Medicare Cover Medical Expenses Incurred While Traveling Abroad?
Medicare does not reimburse the medical expenses occurred abroad while traveling. However, the policy may change. It is better to check with them.
What Is A Pre-Existing Condition?
It is a change in the medical history, diagnosis, symptoms, and treatment that occur in a specific amount of days prior to buying the plan. Again, it is better to find about this from the insurer since different insurers have varying policies regarding this point. Some companies may not cover pre-existing conditions. Many would cover them at a cost.
How Are The Medical Bills Paid?
All your medical claims will be reimbursed after reviewing the claims. Some plans may offer advanced payment on certain conditions.
Should I Buy The Insurance From A Third Party Travel Insurer Or From The Travel Company?
It is better to buy the insurance from a financially sound third party travel insurer. It would be difficult to recover the claim from a travel company if it goes bankrupt. In that event, you might get just a portion of the claim, and that would take a long time.
Can I Cancel My Travel Insurance?
Yes, you can cancel it due to the covered reasons. You should check the covered reasons before buying your policy since these may differ from company to company.