Travel insurance policies are god sent for people who are planning to travel abroad, whether it is a vacation or a business trip. Travel insurance policies are those policies that particularly cater to people who travel a lot. These policies, depending upon their stipulated coverage documents, provide security to the traveler against contingencies related to a person’s physical health as well as his or her financial health.
It is not uncommon for a trip to get hindered by some unfortunate events. These events can range from accidents and medical emergencies to luggage loss or financial problems. As a matter of fact, any person who is a regular traveler will accept the fact that there have been many situations in which he or she has had to deal with a serious problem that was threatening the success of his or her trip. On a basic level, the most likely type of problem that a person can face while traveling is health related, while more complicated problems such as loss of luggage and defaulting travel agents also occur occasionally.
There is a whole variety of travel insurance policies for a prospective traveler to choose from. Not surprisingly, different types of travel insurance policies cover different contingencies and can also be found to be different in other facets. Therefore, any prospective traveler must compare travel insurance policies, if he or she wishes to acquire the best suited policy for his or her particular travel plans. The following are the most commonly occurring types of travel insurance policies.
Single trip basic insurance policy:
These are insurance policies that are limited to a single trip and have a very basic coverage document. These types of policies are ideal for families and individuals who are not regular travelers but do travel off and on. Although most of these types of policies are basic in terms of their coverage, an insurance policy with more expansive coverage can also be acquired at much higher prices.
Multi trip insurance policy:
These are policies that cover trips that last longer and include multiple destinations in their coverage. In fact, in the majority of cases, this type of insurance policy includes the number of trips in the policy document itself. Furthermore, an insurance policy of this type does not only include additional bonuses for the potential user but also provides him or her with financial discounts.
Medical travel insurance policy:
This type of travel insurance focuses on the medical aspects of the whole trip. Resultantly, these policies, more often than not, do not cater to any problems other than health related issues. Also, since these policies focus on medical issues exhaustively, most of these policies require the insured to provide their medical histories at the time of purchase. These types of policies are highly useful to people who have chronic health problems, infants, children and the elderly.
Long stay travel insurance policy:
These are policies which last for an extended period of time which may range between three months to 18 months. Therefore, these trips are especially useful for people visiting their relatives.