People travelling on business or pleasure should be aware of the necessity of purchasing travel insurance to cover any eventuality. Before purchasing one, it is essential to check out the “fine print” and be aware of the various clauses, as each policy may cost differently according to the level of cover. Do not select one because it is cheap.
Look for the following points to be covered when you purchase travel insurance:
Be sure to get covered for Hospital and Medical expenses when you are travelling to far off destinations. You may end up paying astronomical bills overseas and if you happen to need repatriation back to Australia, for example, you would end up paying over $100,000.
It is necessary to take an insurance cover that will cover any serious mishap, illness or injury when travelling. You may need to be brought back home on an air ambulance or commercial aircraft immediately.
Therefore, ensure that your policy covers the high limits that may be expected from a hospital abroad and the medical cover. Make sure that it takes care of Emergency evacuation. You should be able to get your companion to travel back with you in case you are injured. Get covered for medical emergency service, round the clock. This includes emergency dental work as well and if you have any pre-existing medical condition, or if you are pregnant, cover these as well. Remember that the claims made are in effect only till you return to native soil.
The other important factor when travelling is your personal possessions and luggage. Main thefts arise at baggage carousels when there is no proper supervision.
There may be time limit on the claims for expensive items so double check to make sure of these. Some individual items may have a limit and if luggage is stolen from the hotel room along with your cash, you can make a valid claim.
You should be able to avail of the Cancellation or Curtailment claim where you can cancel. or cut short your trip, in case of an emergency, such as accident or serious illness to you or your close relative.