TRAVEL INSURANCE
What Is Travel Insurance?
Travel insurance is a type of insurance covering financial losses associated with traveling, and it can be useful protection for domestic or international travel. Whether you missed your flight to Florida, lost your bags in Berlin, or broke your ankle in Ankara, the best travel insurance companies can help remedy all kinds of travel mishap costs
Why insure when travelling?
If you travel without travel insurance, you open yourself up to amassing crippling medical expenses.
It is important to be aware of the fact that while you purchase your policy in local currency, any medical expenses you may incur would be paid in foreign currencies, and this could lead to financial ruin if you are travelling to a country with a stronger currency.
Buying a travel insurance policy will provide you with financial security and travel assistance and protect you from potentially enormous financial costs.
For example, in th UK, just a routine visit to the GP may cost you between 150GBP and 200GBP.
Hospitalisation costs for serious medical conditions such as injuries resulting from motor vehicle accidents, or illnesses such as heart attacks, strokes and bowel obstructions could result in exorbitant bills.
Travel Insurance provides a financial safety net for policyholders while they are travelling as well as 24 hour international assistance, which means that help, when needed, is only a phone call away.
Medical coverage can help with unexpected international medical expenses, and help with locating doctors and healthcare facilities abroad. As with other policies, coverage will vary by price and provider
Premiums—or the price you pay for coverage—are based on the coverage type, your age, destination, trip cost, and more.
Coverage Requirements
There are usually stipulations spelled out on how you qualify for coverage. Your claim must fall under the types of coverage offered. For example, lost baggage insurance might include coverage for personal items, prescriptions, credit cards, and your passport or visa. You may also need to take extra steps to qualify for coverage, such as reporting the loss or theft to the police.
It’s important to understand what’s covered and what’s not, and any limitations on coverage amounts and coverage requirements.
Exclusions
These are the conditions under which your coverage will not cover the loss. Each policy differs. For example, your baggage damage coverage may not cover losses caused by animals. It may exclude coverage of bicycles, hearing aids or other medical devices, keys, and tickets, or seizure by a government or customs official.
Pre-existing conditions:
Pre-existing means conditions that are usually not covered. However, limited cover for pre-existing conditions is available with certain policies for hospitalisation costs only. There will, however, be age restrictions that apply. Please check with your Policy provider when choosing a policy.
To better understand travel insurance you may find the answers to the following questions helpful. Please use this information to assist you in choosing the most appropriate travel insurance cover for you
What does a travel insurance policy usually cover you for?
The most important benefit of your travel insurance policy is your Emergency Medical and Related Expenses for claims paid in foreign currencies.
Some of the other benefits of your travel insurance policy include:
- Cover for losses incurred due to unforeseen Cancellation or Curtailment of your trip
- Accidental Death and Disability cover
- Personal Liability cover
- Luggage cover
- Various other Inconveniences cover
What is Emergency Medical and Related Expenses cover?
This includes hospital and out-patient treatment and prescription medication, as well as emergency dental expenses as per the schedule of benefits.
I have free cover on my credit card. Is this enough?
If you purchase your full airfare on your credit card, most banks provide some complimentary cover. This is restricted mainly to limited medical cover. You will need to check exactly what you are covered for and then consider boosting your cover to ensure you have adequate cover for medical expenses as well as cover for the reimbursement of cancellation costs and lost luggage. There are several top up options available on the market.
Ensure you have adequate medical cover. Ensure the cover also provides for the reimbursement of cancellation costs and lost luggage.
What is typically excluded in your medical cover?
Unlike your monthly contribution to medical aid, your travel insurance is usually a once off premium for the duration of a trip; therefore your travel insurance policy will normally cover the unforeseen and unexpected illness or accident.
Your travel insurance policy will cover you for regular travel activities but will exclude cover if:
- You are participating in hazardous pursuits
- Playing professional sports- unless you take a plan that is inclusive of Sports
- Wilful exposure to dangerous pursuits
When purchasing or deciding to purchase a policy, familiarise yourself with the exclusions on your medical cover. This information is located in the policy wording.
A client relates her experience of our 24 hour assistance:
“I would like to thank you and your team for your excellent service, efficiency, and friendly professional help.
Many people, I suspect, do not have a lot of trust in insurance companies. Then there is the factor that one doesn’t really think anything will happen, so why does it matter from whom you buy travel insurance?
I have had a change of heart.
My son had an accident (luckily, not a serious one) in a country where English is not really spoken. When I phoned to report the accident, the call centre were very helpful, calm, professional, patient, and caring throughout the process.
They jumped between me and the German office without any stress, organising contacts, guaranteeing payments and feedback.
This accident was an eye opener for me. You just don’t expect something to happen, and the last thing you want to worry about is money. I am so thankful and pleased that we were insured before we travelled.
I know that whenever my family and I travel, we will always take Travel Insurance.