Travel insurance coverage is a life saver – you never know when you will need it. It's the life vest when you missed a flight or collided with somebody in the airport and your camera fell and broke. It's the money that will save you when you suddenly got sick during the trip and you need to be checked in a hospital.
An insurance premium is actually as cheap as 1 movie ticket. Can you imagine paying ₱250 for the insurance, which will give you coverage of up to ₱500,000 when you get sick or get yourself into an accident?
TRAVEL INSURANCE COVERAGE BEFORE THE TRIP
1. Trip cancellation
You never know what can happen right before the trip. You may be able to make claims for abrupt cancellation of trips due to:
a. Suffering from serious injuries from an unfortunate accident
b. Encountering life threatening situations
c. Attending to an immediate family member due to a life crisis
2. Accident claims before a trip
If any accidents happened before your flight (depending on policy, check time frame between the time of leaving your residence and take off), you can make claims as well. Or in the event you died in the accident (excuse us, travel insurance can sound so morbid), your family will get compensation.
3. Financial default
Asia-Euro Holidays, a popular travelling agency, pulled down its shutters in 2015 after 13 years in business. Five Stars Tours also went bankrupt in 2014. Did you book your trip with an agency? In the event of such sudden closures, you are able to make claims through your travel insurance.
DURING THE TRIP
4. Trip Interruption
There is reimbursement if your trip was cut short due to an outbreak of strike, riot or civil commotion. Always check the fine print before buying the insurance.
5. Car excess claims
Car rentals are popular in tourist hubs because some people have international driver's license and they would want to explore the city on their own. Some car rental companies do not insure you when you get into an accident.
If you bought a travel insurance plan, then you don't have to pull money out of your pockets when you need to go to the hospital. Some insurers allow you reimburse the expenses you've made if the expense is covered in the policy.
6. Property damages
More and more people are looking to stay at quirky and quaint Airbnb properties. While you get to enjoy the hospitality and uniqueness of a third party’s home, be aware that you could be legally liable to compensate the owner if you broke the Chinese vase or you accidentally hit the fridge and made a dent when the kids were playing around in the sala. A travel insurance policy may get you covered for such accidents whilst overseas.
AFTER THE TRIP
7. Loss and delay of luggage
Coming home in one piece should also include your luggage but sometimes things get lost in transit. Your travel insurance will be able to cover loss or delay of luggage.
8. Medical Expenses
Getting sick after a trip is not funny, sometimes it gets so bad you may require hospitalization. Within a timeframe after you come back, your trip insurance may cover such medical costs, this is especially important for those who do not have health insurance plans.
9. Personal accident
You or your family may claim cash payment in the case of death, injury or loss of limbs due to an accident which happened within three hours upon arrival. Certain coverages are only available if you buy within a certain number of days (check your policy) of your initial deposit date.
Thinking of travelling somewhere soon? Compare travel insurance with GoBear, an unbiased and transparent comparison tool that seeks the best plans according to your travel insurance coverage needs.