May 29, 2023

Be Aware of The Types And Methods of Travel Insurance Claims

Travel insurance is insurance that provides protection against all risks that a person may incur when traveling domestically and internationally. This insurance is prioritized for people with high mobility, such as leaving town and traveling abroad. Ownership of this protection helps mitigate the financial impact of the risk of loss that may occur while traveling.

This type of insurance is not mandatory, but you must own it. Especially if you like traveling and travel frequently, it is highly recommended to bring it with you. This insurance is flexible enough to be purchased the moment before your trip. You can also buy this insurance at the same time you buy your plane ticket.

Types of travel insurance

Before taking out this insurance, you need to know the following types of travel insurance based on the purpose of the trip, the location of the trip, the number of insured persons and the duration of the trip.

1. Insurance based on travel purposes

Depending on the purpose of your trip, insurance can be divided into two types: vacation insurance and work insurance. It is the amount of premium that distinguishes between the two types of insurance. In general, insurance for business or work purposes is more risky and is offered at a higher premium.

2. Travel destination-based insurance

Travel insurance can also be distinguished based on the place of travel (including land, sea and air), ie domestic or domestic insurance, and foreign insurance. Domestic insurance provides compensation for domestic travel, and foreign insurance provides compensation for travel when traveling abroad.

The premiums for the two types of insurance are certainly different. Overseas insurance at destinations such as Europe, Australia and the United States certainly has high premiums. There are also special foreign insurances such as Hajj and Umrah insurance, which are also more valuable.

3. Insurance based on insurance amount

Travel insurance is divided into individual travel insurance and group travel insurance according to the number of insured persons. Of course, group insurance is cheaper than individual insurance.

The more individuals you are eligible for, the less premium you will be paid. This type of insurance is typically used by travel agencies or schools or colleges that bring groups for vacation.

4. Travel period-based insurance

The following types of travel insurance are based on travel time and are of one-time travel insurance (one-time travel insurance) and insurance for all trips over a year or period (annual travel insurance). It can be divided into two types. ).

If you often travel within a year, it is more effective to choose annual insurance so that you do not have to purchase insurance at the time of departure. Especially for those who often travel several times a year. On the other hand, if you rarely travel, you can choose one travel insurance if you want.

Benefits of taking out travel insurance

How important is it to get insurance when you have to travel, such as on a trip or business trip? Is it really worth the cost and benefits of travel insurance? So what are the benefits of travel insurance and the importance of this travel insurance? Check out the full description of the benefits and come on! That way, you can rethink how important it is to have this type of insurance.

1. Compensation for damage or loss of baggage

By setting your travel policy, you will be compensated for any damage or loss of your baggage. Luggage issues are very common, even if you may have experienced it. If your luggage is damaged or lost, your travel moments will be ruined, right? So make sure you have insurance that you can claim to cover the loss, yes!

2. Compensation for delayed or canceled trips

A trip that is suddenly delayed or canceled will surely make you sad, right? A carefully planned plan has collapsed. There is a risk of delays and cancellations with each trip, which can occur at any time. This is an important place to take out insurance when traveling to cover in case of circumstances. This insurance usually covers flights by air.

3. Eligible medical expenses

Pain can occur at any time, including while traveling. But, of course, no one wants to suddenly get sick and spoil the moment of travel by needing treatment. Especially when the treatment requires a high cost.

Fortunately, this type of insurance also provides coverage for medical expenses if you get sick while traveling. You don’t have to spend money because the insurance company will cover the medical expenses. The economy is safe and your trip will be comfortable!

4. Accident and death compensation

By taking out this insurance, the insurance company will cover the cost of accidents and deaths that occur while traveling. Of course, this is very beneficial to the family’s main earners, as insurance provides the family with a guaranteed amount.

5. Burden of economic loss due to other factors

Travel insurance also covers all financial losses due to other factors such as natural disasters, terrorism and riots during travel. All physical, mental and financial losses are covered by insurance.

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