What is worldwide travel insurance?

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If you are planning a trip around the globe, a family holiday in the USA or a backpacking trip through Europe, it is wise to purchase a worldwide travel insurance that will protect you in case of unexpected events such as lost luggage, medical emergencies, flight cancellations and interruptions.

  • The importance of worldwide insurance

Although nobody wants unexpected events to happen and sometimes choose to ignore the possibility, international travel has its risks. Only last year business travelers and holidaymakers made more than 400,000 claims to the insurance carriers. A worldwide travel insurance should not be considered an optional extra, but an essential part of your holiday. Even a basic insurance policy can cover common problems such as a stolen wallet, an illness, accidental injury, cancellations and lost luggage, although it may not cover all the related expenses. What is worldwide travel insurance? What is worldwide travel insurance pictures

  • Types of insurance

Many insurance carriers provide different types of worldwide travel insurance tailored for the individual needs of each person. You can purchase a policy as an individual or as a family to cover a single trip or a number of trips a year. A single trip travel insurance is ideal if you are going away for a couple of weeks, if you are planning a couple of short trips or a main holiday, because this policy is less expensive than an annual insurance. Multi-trip insurance or annual travel insurance covers all the trips you take in a year and is very useful if you find last-minute deals or enjoy spontaneous vacations. A family travel insurance is more suitable when you are going on vacation with the whole family. Buying one policy to cover the whole family is cheaper than buying individual policies. If you do some research time before your trip, you should be able to find a family life insurance company that offers good deals on family packages, and which meets or exceeds your expectations. If one of your family member has a more sensitive health and need to be insured anyway, getting the family deal will turn out much cheaper for all of you. But remember not to jump at the first family life insurance company that you encounter, wait to see other offers as well and you’ll probably get a better deal.

  • What can I cover?

Health care is the most important reason to get worldwide travel insurance, due to the fact that is covers hospital expenses and transportation back to your country of residence in case of an illness or accident. If you have a pre-existing condition, it is important to tell the insurer so they can cover you. If you are traveling against medical advice, some insurance providers may not pay for treatment. A worldwide travel insurance also covers cancellation fees, interruption fees if you have to cut your trip short, loss of luggage, theft of cash and personal belongings, car rental excess, permanent disability and accidental death. You will have to pay extra to cover extreme sports, winter sports and hazardous extreme sports. In event of any loss of theft, you will need a police report and the original documentation in order to settle a claim.