Which Travel Insurance Should You Purchase?
No matter how much effort you have put into planning your vacation and taking all necessary precautions, you can never predict what will be in store during the trip. Severe illness, accident, robbery, natural disaster etc. may happen unexpectedly and spoil the fun of your long awaited vacation. Above all your hard earned money will all be wasted due to these unforeseen situations. But comprehensive travel insurance will help you to deal with these difficult situations abroad without using up a chunk of your money.
Below are some of the major types of travel insurance available that you can choose from to fit your needs.
Single Trip Travel Insurance
If you are not a frequent traveler, this insurance is ideal for you as it provides coverage for a specific trip.
Annual Travel Insurance or Multi-Trip Travel Insurance
If you generally take more than one trip per year, the most convenient and cost effective solution is the annual travel insurance. This insurance will provide coverage for multiple trips all through the year. While this travel insurance policy covers unlimited holidays, other policies may cover only a specific trip length spanning over 21, 30 or 45 days.
Family Travel Insurance
If you are traveling with quite a large group of people including for example your wife and children as well as your parents, you should opt for family travel insurance. The greatest advantage of this policy is that it covers all the members as a whole and you do not have to buy separate policies for each member. The family travel policies come with different types of premium. Some policies set their premium amount according to the number of children in the family or other factors such as whether the family is a single parent family etc. Then there are other types of family policies that charge you a premium at a flat rate without taking into consideration the number of children or other factors. If your family is quite big, you should opt for the second type of family travel insurance.
Business Travel Insurance
Business travel insurance is a type of multiple travel insurance based on the assumption that you travel a number of times all through the year as part of your job. This insurance is tailored according to the needs of the typical business traveler. A unique feature of the business travel insurance includes colleague replacement coverage that allows the company to replace another employee in your place in case you cannot make the trip due to any emergency.
Shop around on the internet to get the best travel insurance quotes, and purchase a policy that suits your particular needs. But never forget to go through the terms and conditions in details to know what is covered and what is excluded by the travel insurance policy.