A travel insurance is an insurance that is intended to cover financial and other losses incurred while travelling, be in within one's country, or internationally.
Travel insurances can usually be arranged at the time of booking of a trip to cover exactly the duration of that trip or a more extensive, continuous insurance can be purchased from (most often) insurance companies or banks, which covers all travelling during the period for which the insurance was obtained.
Baggage is the reason most people take out travel insurance and is actually probably the least important component; things can be replaced, health can't. There are usually per item limits and exclusions regarding the definition of 'reasonable care' which means a claim will be denied if you leave your baggage unattended in a public place and it's stolen. Lastly, should you have to claim, you will usually be asked for proof of ownership in some form, so you might like to consider this before you go.
Travel insurances can usually be arranged at the time of booking of a trip to cover exactly the duration of that trip or a more extensive, continuous insurance can be purchased from (most often) insurance companies or banks, which covers all travelling during the period for which the insurance was obtained.
Baggage is the reason most people take out travel insurance and is actually probably the least important component; things can be replaced, health can't. There are usually per item limits and exclusions regarding the definition of 'reasonable care' which means a claim will be denied if you leave your baggage unattended in a public place and it's stolen. Lastly, should you have to claim, you will usually be asked for proof of ownership in some form, so you might like to consider this before you go.
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Last Updated: Sep 2009
Last Updated: Sep 2009
What is Travel Insurance?
Most travel insurance policies end the minute you arrive home, so if you have bought a policy for 3 months and come home after 2 weeks, you probably aren't entitled to a refund on the 'unused' portion. However, some policies allow for special circumstances where if you had to return home because of a sick relative or a death in the family, then not only will you be able to claim for some of these costs, but you can also resume your journey. Again, the conditions and benefits vary considerably between policies so always read the policy wording carefully.
