When traveling abroad or traveling in the country, besides enjoying comfort, relaxation outside of work, safety factor in the trip is always a factor you cannot ignore. There is no denying that buying travel insurance can ease your worries against possible risks throughout the journey. With travel insurance, you can safely enjoy the entire trip. Travel insurance is a non-mandatory type, except for some places that require you to have travel insurance to grant a visa like in some European and American countries. However, to make the trip truly safe and comfortable and watch out for risks that may occur in a foreign country, you should buy package travel insurance (lost luggage, property, death, accident …) for the whole tour program.
What is Travel Insurance?
Travel insurance is a type of insurance that pays for individuals or groups of losses arising from incidents occurring during the trip such as personal accidents, overseas medical assistance, and support during the loss luggage or personal belongings, assistance when trips are canceled / delayed, and emergency medical moves.
Usually, travel insurance includes domestic travel insurance and international travel insurance corresponding to different interests.
In general, travel insurance policies are the same in basic benefits. However, depending on the travel needs of each object, there are many types of insurance designed to meet the needs of each feature of target groups.
Travel insurance includes domestic travel insurance and international travel insurance corresponding to different interests.
The low age click to sign up for travel insurance is 12 months old. The highest age for men to sign up for travel insurance. The highest age for women to subscribe to travel insurance is 75 years old.
Travel insurance for domestic tourists
- Inland insurance programs are usually covered only for the following cases:
- Dead by accident during the insurance period.
- Permanent disability due to accidents during the insurance period.
- Death due to illness is covered during the insurance period.
- Medical expenses.
Domestic travel insurance compensation level
If traveling in the country, most travel companies have already purchased the type of “Domestic Travel Insurance” and included in the tour price. For high-risk tours (such as climbing, exploring, exploring forests, etc.), tourists can ask the tour provider to also buy insurance with higher fees, compensation and coverage. Insurance will increase the rate with the premium. There is currently no baggage insurance for domestic travel.
International Travel Insurance
Basic benefits may be included in an international travel insurance contract:
- Medical expenses due to illnesses and accidents.
- Compensation in case of accidental death.
- Compensation in case of death due to illness.
- Compensation for the costs stated in the insurance contract for flight delays, flight cancellation due to resistance reasons.
- Compensation for lost or stolen assets of the insured.
- Compensation for personal liability of the insured arising abroad during the period of insurance coverage.
- 24/24 emergency assistance.
Compensation level of international travel insurance
For tours of travel companies, it is often possible to buy a “travel abroad” insurance for tourists with a common fee of USD 1.5 / person / day, the highest compensation is USD 10,000 This is considered a minimum level of protection for visitors going abroad, provided with support services and compensation for incidents such as deaths, illnesses, accidents, lost and damaged luggage during the trip …
In addition to medical assistance, there is insurance to assist in the loss of luggage, loss of paper, repatriation, tour resetting … In addition, insurance companies often have special products to You can choose, such as: “Short-term travel insurance”
If traveling in the country, most travel companies have already purchased the type of “Domestic Travel Insurance” and included in the tour price
The reasons you should buy travel insurance
According to the American Travel Insurance Association, about 30% of Americans buy travel insurance, an increase of about 20% before 9/11. The three main reasons to buy travel insurance are: getting peace of mind, being protected from unexpected risks and reducing financial losses.
In addition, travel insurance also shares the burden for you and your loved ones in many cases such as canceled flights, lost bags and medicines, Passport and stolen wallet and ear, unexpected accident, cancel the trip because of illness, your airline or travel company went bankrupt, emergency emergency abroad, terrorism occurred in the place you are going to.
Some basic categories of travel insurance
Aircraft insurance: At the airport, there are insurance counters located there to provide information and advice on this type of insurance. They often recommend that when buying insurance, if there is a problem like an airplane crashing … the insurance buyer will be compensated. But in fact, this type of insurance is very expensive and not really necessary.
Flight cancellation insurance: Deciding whether to buy this insurance depends on the value of your flight. If you only take a flight from Hanoi to Saigon, you should not buy this insurance. Because the risk is not high and buying insurance is very wasteful. If you want to go abroad and have a perfect trip, this type of insurance is essential. In case of illness, missed trip or unexpected service provider, the buyer will be compensated for the damage. However, be cautious, do not buy insurance from your own carrier or airline. Because if the company has any problems, the insurance is lost.
Insurance of medical expenses: Many people think that they will naturally get health insurance when they travel because they have health insurance. But the truth is not so, health insurance is only valid for domestic use. If there is a health problem occurring abroad, the purchase of additional travel insurance will support the cost of treatment, medical transportation costs, especially in emergencies.
Baggage insurance: Sometimes, your trip is canceled or interrupted because luggage is stolen, damaged or lost … And baggage insurance will reduce the cost of damage, especially if you have a flight abroad.
Non-refundable premium insurance: In case you have bought a plane ticket but for some reason the flight is canceled, this kind of insurance will be very helpful. This is an item that provides insurance benefits for deposits and non-refundable payments due to the cancellation of the trip for reasons stated in the insurance policy.
All in all, buying travel insurance is essential!