You are ready to go for the most awaited trip of your life. You have booked your flight tickets much before as you had planned this trip since a very long time, packed your bags, visa, accommodation, everything is ready and sorted. You have also bought travel insurance policy as this is a long trip and you are travelling with your family. And then suddenly you are caught up in an unavoidable situation at the very moment when you are about to leave for your dream destination. Whether you cancel or reschedule your trip, it all depends on how serious the situation is. In addition to that, you lose your mental peace and a lot of money in this situation as you have booked everything and cancelling your flight tickets or hotel accommodation is sheer waste of time as you don’t get a single penny.
You have bought your overseas travel insurance policy as well. What happens to your policy? Here comes some relief for you. Most insurance companies have provisions in the policies when it comes to cancelling or rescheduling. However, it all depends upon the intensity of situation. Whether your situation is covered under the provisions of your policy or not is big question. If it is not covered, you will be in a huge loss. Therefore, it is highly advisable to read all the terms and conditions of your overseas travel insurance policy carefully before buying one. It is very important to understand your travel insurance policy and make your choice based on the possible situations in your case.
You must know everything related to your travel insurance like what is covered and what is excluded with regards to your policy. If you would have read your policy carefully and clearly, you will not be puzzled or hassled. You would know where to go and what to do in case of change in your travel plan.
The reason why we are stressing on reading the policy properly is because it comprises of the details related to the policy like inclusions, exclusions, the entire procedure of cancelling a policy, charges payable and conditions applicable in a particular situation. When your trip is cancelled or postponed, the cover provided differs from company to company.
When your trip is cancelled, you only get the benefit if you cancel your trip before the departure date. The cover provided is based on the premium you paid to buy your insurance policy. Costs related to cancelling flights, advance paid for hotel reservation and booking amount paid for holidays are some of the expenses that an overseas travel insurance policy covers. However, the final offering differs from insurer to insurer.
If you end your trip all of a sudden
You decide to leave for your home country amidst of your journey; your travel insurance plan helps you out by providing a certain amount. The situations which are considered valid are death of a family member, sudden critical ailment of the policy holder, extreme weather changes, natural disaster, terrorist attack and so on. The insurance policy covers the costs related to your sudden departure.