Travel insurance is a policy that covers emergency medical and various travel-related expenses when people visit other parts of the world, and is not only useful to have, but often also a requirement of the destination country.
From covering emergency hospital visits or other unforeseen events, to replacing lost luggage or covering you against cancelled flights, travel insurance has become a non-negotiable.
Travel insurance can be a money saver. If flights are cancelled due to unforeseen events like a natural disaster, having a travel insurance policy can cover the cost of a new ticket as well as accommodation while waiting for a new flight.
Having travel insurance will also allow a traveller that requires ongoing medical treatment to be repatriated to the country that they reside in.
Does age impact a travel insurance policy?
The simple answer is yes. Some travel insurance policies have an age limit of 65, however, there are specialised policies that will cover people that are older.
How has Covid-19 impacted travel insurance?
After the Covid-19 pandemic, quarantine cover which did not feature on a policy is now probably one of the most important elements on a travel insurance policy.
How to apply
When looking to apply for a travel insurance policy, Tony Singleton, chief executive of Turnberry Management Risk Solutions says it is advisable that people also familiarise themselves with their Gap Cover benefits. , Travel insurance, he notes, is a “very useful added benefit, especially during the pandemic.”
Can I get free travel insurance with my credit card?
Most credit cards will offer travel insurance if the card in question is used to purchase a full-fare return ticket. It is important to check what the free travel insurance will cover to avoid any problems in the future.
Here are a few important things to note about travel insurance:
- Having travel insurance is not a guarantee that any type of medical procedure will be performed in another country. Insurers require authorisation to be in control of the claim in order to manage the expenses and the treatment of the patient.
- Travellers need to discuss their insurance requirements and any concerns they may have with their broker.
- When travelling overseas, people must apply for travel insurance before leaving the country, as the policy needs to be issued and activated prior to departure.