What does travel insurance cover?
Finding the right travel insurance cover at the right price is no simple task, made harder by the multitude of cover options and exceptions. Here at EnjoyComapre we will try to dispel some of the myths and shed light on the cover details that are important. So let’s start with the types of travel insurance and the difference, firstly you will find Single, Annual Multi-trip, Backpacker and Family cover. Below are our choice of the top 3 travel insurance providers that offer an extensive package that doesn’t break the bank.
Top 3 Travel Insurance Providers
What is Travel Insurance
Travel Insurance covers you against any expenses as a result of things going wrong on your holiday, or business trip. whether your travelling abroad or in Singapore, travel insurance can help protect you and your loved ones for the extensive costs associated with medical treatment, sports injuries and your possessions being stolen, lost or damaged while travelling.
Types of Travel insurance
- Single – Useful if you’re looking for travel insurance for one trip that is less than 30 days.
- Annual Multi-trip – Useful if you’re looking for travel insurance that will cover multiple trips over the year, that are individually less than 30 days.
- Backpacker – As the name suggests, this covers multiple destinations for more than the 30-day duration stipulated by standard insurance policies.
- Family – Insurance cover that protects your entire family (make sure to seek clarification on age and number of dependents) for single or multiple annual trips.
Travel Insurance Cover
The cover offered by travel insurance providers will differ between policies and it’s sometimes hard to compare the different level of cover. in general, however, most providers cover the following.
Items like your luggage, camera, phone, legal documents, cash or clothes if lost or stolen, might be covered with some policies. However, ensure to check the amount covered per item and the total max cover for personal possessions.
The depth of coverage of medical treatment is a detailed and difficult section to compare. Some policy providers simply provide a lump max sum for categories of issues. However, this may not sufficiently cover the entire medical expenses, as such, you will have to make up the difference. That said, high cover policies will outline each specific treatment and provide greater max threshold to help reduce the potential of you being left with any outstanding amount. In most cases, Insurance providers will cover you for emergency cover, however, if you haven’t declared any pre-existing medical conditions then it’s likely that treatment for that condition won’t be covered.
This covers the cost for any legal expenses as a result of your an incident that wasn’t your fault, or if you have to pay personal liability if an incident was your fault. Again expect to see a maximum cap on expenses.
Holiday or Business Disruptions
Its now typical for insurance providers to offer some level of payout to help cover the inconvenience of travel delays, cancellations and disruption to your travel or living arrangements. Don’t expect a fortune, but its always nice to have some contribution to the frustrations of modern travel.
As standard, you are not covered for any adventurous sports activities, including any complications driven from Scuba divings, skiing, snowboarding, climbing etc. It’s important to check if your insurance policy has ‘Sports Cover’ and if so, ensure to check what is and isn’t included. You shouldn’t be shocked to find a game of tennis or football might be included.
The price of Travel Insurance
The price of travel insurance policies can vary between providers, as each provides different levels of cover. However, your circumstances can also affect the price, see as follows.
- Age – The younger you are the less likely you are to fall ill while on holiday. As such the price of travel insurance policies differs depending on the risk associated with your age.
- Destination – The price of local medical expenses and the cost of repatriation affects the cost of travel insurance, not forgetting the stability and legal framework of a country.
- Length of trip – The cost of travel insurance will increase the more days you are away from home, due to the increased risk of a problem.
- Medical Conditions – If you have any prior medical conditions, this will increase the cost of the insurance, or will be exempt from the policy (not covered). Make sure to inform your travel insurance provider of any current medical conditions, as failure to do so, can void the entire policy.
- Activities planned – Adding ‘winter sports’ or any adventurous activities like scuba diving, or hiking, may increase the cost of your policy.