Different Types of Travel Insurance Plans

travel-insurance We always hope to have a safe and sound travel. However, sudden illnesses or accidents cannot be ruled out. When you are in an unknown terrain, such untoward incidents would create immense financial problems. By purchasing a travel insurance policy, a part of the losses that you incurred on domestic or foreign trip, would be borne by your insurance provider.

Losses covered

The losses covered by a travel insurance plan include medical expenditures, accidental death, damage and theft of personal belongings, delay in arrival of luggage, cancellation of trip, delay in departure, emergency return and sudden repatriation, rental car damage and legal expenses. The more expensive is your travel insurance plan wider will be the number of risks covered by it.

High-risk insurance plans will attract high rate of premium. These insurance plans other than the common travel risks, cover high risks, such as terrorism attack, danger of traveling in high-risk countries, high-risk sporting events, chronic diseases etc.

Types of Travel Insurances

Annual multi- trip travel Plan

If you are a frequent traveler, you can opt for annual multi-trip travel insurance plan. This will cover risks associated with travel in several locations throughout the year. By purchasing this form of travel insurance, you can save money spent in buying individual travel insurance plans. This type of insurance policy is suitable largely for business travelers or for individuals who travel at least twice every year.

Single trip travel plan

This type of travel insurance policy is suitable for travel occasional holidaymakers.

Medical Travel Insurance

There are two forms of travel medical insurance plans – medical travel insurance and international major medical insurance. Medical travel insurance covers only emergency medical expenses on a trip. All emergencies as well as non-emergency medical expenses on a tour are covered by international major medical insurance plans.

Backpacker Travel Insurance

If you are planning to embark an adventurous trip to a foreign country, you can purchase a backpacker travel insurance. This is a newer form of travel insurance, which covers the risks associated with over 40 adventure sports, including bungee jumping, rafting and skiing.


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