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Travel Insurance

Travel Insurance

Are you planning to take a trip with friends or family abroad?  You could instead need to visit a foreign country for business purposes.  From a one-off excursion to frequent travels out and about, travel insurance is a key feature to always consider.  This policy will provide you with financial (and logistical) protection in the event that unexpected circumstances arise.  Some issues which can be addressed by such a plan include:

  • An illness
  • Theft
  • Vehicular damage
  • A sporting accident
  • Plans for those over 65 years old
  • Medical treatments

Without this type of coverage, you could very well find yourself paying significant or even crippling out-of-pocket costs.  Let's now take a look at some of the most common policies as well as the features that they intend to cover.

Single and Multi-Trip Plans

Some policies are used for a one-off journey.  This plan can be ideal for an individual or an entire family.  Most of the basic provisions mentioned above are covered.  However, we should note that single-trip insurance can be a bit expensive.

Multi-trip insurance (as the name hints) is useful for those who take frequent excursions.  This can actually be cheaper if you travel two or more times every year.  The policy is renewed on an annual basis.  There is normally no limit in regards to the number of trips you can take per year.

Worldwide Insurance

Some policies will only cover European travel.  This may not be the best option if you plan on visiting other areas of the world such as Asia or the United States.  The reason for this is that medical treatments in specific portions of the world can be extremely expensive.  An example here could be if you injure yourself while skiing in the United States.  The sheer medical costs can run well into the tens of thousands of dollars.  Worldwide policies are able to take this and other instances into account.

Sports and Activities Insurance

If you plan on enjoying physical activities while abroad, it is wise to purchase an addendum known as sports insurance.  The coverage within these plans includes (but is not limited to):

  • Skiing
  • Snowboarding
  • Scuba diving
  • Hiking and mountaineering
  • Bicycling

As the chances of injury can be higher when compared to an average holiday, sports insurance can likewise take into account additional medical bills.

Family Insurance

It is a great idea to take out a family plan as opposed to keeping track of multiple policies.  Also, let us keep in mind that the aggregate cost of a family package is lower in comparison.  Some companies may offer free policies for those who are under 18 years old, although this will naturally vary.

Over-65 Travel Insurance

There can be times when a standard firm will refuse to provide coverage to those over 65 years of age.  In this case, choosing a discrete policy which addresses this demographic is the only option.  Although the premiums can be higher than other plans, the fact of the matter is that the chances of an accident or an injury occurring are likewise higher.  It is well worth the investment.

These are some of the main policies within the travel insurance category.  Even if you are planning to take only a week-long holiday, these plans will inevitably provide you with the peace of mind in knowing that you are in good hands if an accident or an injury happens to occur.  As always, compare and contrast the different providers to determine which one is able to suit your unique needs.