The job of a good overseas travel insurance policy is to protect you from most common problems that you might encounter in the course of your trip abroad. Some policies also provide coverage for more specific needs, such as mountain climbing or paragliding – but unless your life is extremely exciting, those don’t fall under the category of ‘common problems’!
Overseas travel insurance plans are meant to provide financial assistance and a helping hand in the event of any emergency during your stay in a foreign country. Of course, these policies cover emergencies and the unexpected – not incidents and events that were known in advance (sadly, this needs to be said).
Here are a few of the basic covers that a foreign travel insurance policy offers:
This is one of the most basic items of coverage – should you suffer a medical emergency during your trip, the policy will cover all expenses incurred. If the purpose of your trip is medical treatment, however, not so fast – you’re ineligible for this coverage. If it turns out that there are no adequate medical facilities nearby, some policies also cover emergency evacuation should you need it.
Sometimes, your best laid plans may need to be cancelled. It’s not a total loss – your travel insurance may cover you for the cost of tickets and/or the cost of booked hotels. Some travel policies also offer coverage if a trip is cancelled due to bad weather. (It’s important to remember that a travel policy will cover you for trip cancellation only if the event leading to the cancellation is unexpected! And just so we’re clear, ‘changed mind’ doesn’t fall under our list of unexpected scenarios.)
If you’ve never had a near-heart attack over a possible lost passport or suitcase, you haven’t travelled enough! That said, should it occur, your travel policy shall reimburse you for the same. What’s more, most travel insurance policies pay for the replacement of lost passports.