Sunday, July 20, 2008

Travelers Insurance

Enhanced modes of transport have made extensive travel a common indulgence. However, there is a distinct need for the 21st century traveler to check out insurance coverage on every segment of travel to ensure real value for the money spent. Travel involves adventure and risk and hence the need for insurance. It is essential to have travel coverage in place, especially in the case of a frequent traveler. This way, you get to enjoy the trip to the maximum and within the security of insurance. If you are adventurous, a sport enthusiast, a globe trotter or a business person who travels extensively, there are a myriad of insurance offers to finance you and take care of everything from ticketing to accommodation. Travel insurance is designed to minimize the financial risks that a traveler faces due to last minute cancellations, medical emergency, delay or loss of baggage or the ultimate nightmare - loss of cash!


A traveler cannot rule out the possibility of a missed departure or loss of passport and the subsequent legal expenses. Such occurrences can really drain you of patience and the leisure time on hand. However, it is better to be safe than sorry. These emergencies cannot be ruled out and hence, need to be covered via travelers insurance. The insurance will largely depend on the category of traveler you fit into. You could be categorized under single trip or multi trip, short or long trip, one time or frequent or tourist or adventure sport enthusiast. Whatever the category, there is a traveler's insurance designed for you.

The insurance company covering you under the traveler's insurance supports every effort made to plan the trip or vacation and ensures that nothing untoward happens. In other words, the travel insurance is a designed 'back up' for the unexpected turn of events, if any do raise their ugly heads. The covers provided under the different insurance packages include ticket reimbursement and medical expenses. It is important to understand that the ticket expenses are reimbursed in event of the trip getting cancelled or interrupted due to ill health. This could also be the case in event of the sudden loss or serious condition of family member. The traveler's medical insurance plan takes care of all medical expenses, including hospitalization during travel.

There are other specialized package plans available for particular travelers, like the student's plan that covers the student for a semester or even a year of travel. There are insurance plans that cater specifically to students studying abroad. In these travelers insurances, the premium is calculated on the basis of the plan module and the additional expenses that are naturally applicable to an overseas student, which differ from one cover to another. The backpacker's travel plan is designed for individual and extensive travelers. Since most of such trips involve trekking and road travel, the overages offered too relate to associated expenses.

There is a traveler's insurance plan specially designed for senior citizens who travel around the world, post retirement. However, the premiums calculated are higher since the insured are senior citizens, who are more likely to fall ill and make claims. The businessmen who travel frequently can invest in a special plan put together for them, which offers them the choice of an annual plan or a multi trip plan insurance coverage. The insurance plans designed for travelers also cover toddlers who are exposed to the risk of getting some infection or disease in transit. In such an unfortunate event, if the family trip stands cancelled, the plan provides for eventualities.

There are traveler's insurance covers that also provide for various types of groups. These include club member tours, tours organized by the civic authorities or the church or some youth organization. The group is covered for both a tour within and outside the country and covers the young and older members of the group. The risk factor associated with extreme sports like bunjee jumping, jet-skiing, parascending, water rafting, windsurfing, yatch racing and scuba diving cannot be denied. Such travelers are covered by the travel insurance companies under separate packages at extra costs. They cover the hazardous activities and calculate the premium according to the risk and age factor. info from googleitt.com


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