Travelling to new destinations, exploring beautiful locales, cultures, cuisines, lifestyles, etc. is probably one of the few things almost every individual loves to do. These days people travel by different modes and channels like air, cruise, road, etc. However, the mode of transport might have advanced with time for human kind, but the exposure to risks remains more-or-less the same. Irrespective of the risk factors, people prefer visiting new countries with their families and/or friends and spend quality time together.
Purpose of travelling abroad can anything from pleasure trip to business to study, etc. No matter what is the purpose of your foreign trip, people often tend to forget buying right tour insurance policy. They fail to realize that in case of an unforeseen event like accident, a medical emergency or any liabilities, they may fall into financial crisis like situation. They don’t realize that such uninvited situations can prove out to be more expensive than the total cost of your tour.
Understanding the various tour insurance policies and learning about their advantages is as important as it is carrying your passport during your trip.
While a basic tour insurance policy covers any medical expenses, losses that may happen while your are on a tour; an overseas travel insurance policy takes care of risk covers associated with medical and financial emergencies that may occur while you are travelling abroad. While you are on a foreign trip, you might be at risk of falling prey to medical emergencies and need to get hospitalized for the same, or you may lose your passport, checked-in baggage, etc. your overseas travel Insurance shall cover you during such situations.
By and large there are two types of overseas travel insurance - Single Trip and Multi-Trip or Annual Trip.
1) Single Trip: A single trip overseas travel insurance plan protects you for the complete period of your one trip only. Normally a single trip overseas travel insurance policy is offered for a period of 180 days.
2) Multi-Trip: A multi-trip overseas travel insurance policy also known as annual trip overseas travel insurance, is offered for a period of 365 days. Here, as the name suggests, you will be insured for multiple foreign trips.
Therefore, next time while you are planning to travel to a foreign land, ensure that with your baggage, money, passports and tickets you also carry your overseas travel insurance policy.