If
you’re
planning to go on a holiday with the family, then don’t
leave home without travel insurance. You’ll find a
number of options. There are single trip insurance (a separate
one for every time you travel) policies as well as multi-trip
ones. Multi-trip policies are annual policies and best suited
for those who travel frequently on business trips, but would
do just as well if you often travel. Some policies cover
more than one person, which means you can insure your family
or partner who happens to be travelling with you.
Single
trip policies are for a single trip of any duration from
1 day to 18 months. Annual multi-trip insurance would
cover a certain number of trips during the period of one
year. You would also find a special BackPackers policy of
6, 12 or 18 months.
Whichever
you choose, most policies are taken out as a standard combined
package, giving you basic financial cover for a
whole host of incidents. A standard travel policy would provide
compensation in the unfortunate event that one or more of
the following incidents occur:
*loss
or theft of money during travel,
*loss or damage to personal possessions, including your passport
*delay or cancellation of your trip, for reasons beyond your
control, for which you can expect compensation,
*medical emergency
(in this case the policy would include compensation payable
to your family if you die or suffer
a permanent disability while travelling).
Some
policies would also cover legal expenses in the event that
you cause injury or damage to another person or his/her
property, during the trip.
Do
make it a point to ask your insure about any doubt that
you
might have and know exactly what is included, because
you don’t want unpleasant surprises later. Example:
For certain claims you may have to pay an excess; or there
may even be limits on the amount you are entitled to.
Limits to a claim
Each area of the policy is likely to have a different set
of terms and conditions. Limits and excesses are often
applied to policies, which is why it makes sense to read
the documents carefully before travelling and clarify doubts,
if any, with the insurer.
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