Travel insurance is a confusing term, as it is used to refer to insurance against many different types of risks: travel medical insurance, medical evacuation, trip cancellation and interruption, supplier default, baggage insurance etc… Read carefully what the insurance includes and excludes.
You also need to find out what you’re covered for already so you can pick out an insurance package that covers the gaps. Without this knowledge, you’ll most likely waste your money on double coverage.
Most important ones:
– Emergency Travel Medical Insurance, which is for people who have medical coverage at home, but whose health plan at home doesn’t cover them while they are travelling.
-Medical Evacuation Insurance covers the cost of an air ambulance and related services if you are so badly injured, or become so ill, that you can’t get back on your own.
– Trip cancellation and interruption insurance covers the cancellation or refund penalties and the cost of getting home if you have to cancel your trip, or cut it short, for specific reasons.
– Supplier default insurance covers any money you lose because of the bankruptcy of an airline, cruise line, tour operator, or other provider of travel services.
Some regular insurance agents handle travel insurance, especially long-term comprehensive travel medical insurance, specific for around the world tours.
Most people think of the risks of travel in term of ‘flight safety’, ‘exotic illnesses’, ‘terrorism’. Statistically, these concerns say more about travellers’ fear than about the actual dangers of travel. Travel by land or water is far more dangerous than by air. Serious injury most often comes from road accidents, more than from serious illness. Most violent crimes against travellers are economic.
Read the local newspapers and pay attention to what’s happening around you. Talk to local people, not just other travellers. Surf the web for information’s.