Traveling is more than just the movement of people from one city to another, one country to another country or even continent to continent. It is an experience that teaches invaluable lessons and helps in the holistic development of an individual. However, like everything else, the entire process of traveling has its own list of pros and cons.
Among the list of the cons, are the expenses attached to traveling but more than just an expense, it is the monetary loss attached to it that carries certain risks. These risks tend to be on the higher side at the time of an international trip and this is why it is advisable to have overseas travel insurance in place at the time of planning a vacation.
It can be quite intimidating to traverse through the various travel insurance plans that are available to an individual but there are certain important aspects that should be common amongst all. Listed below are a few of the coverage provided.
1) Trip Cancellation Coverage
This is often the topmost concern amongst the majority of the travelers because this is when a large percentage of losses are incurred. There is a large amount of money invested in an overseas trip which includes the cost of flight tickets, hotel rooms or other accommodation cost and tour packages which are common features. There are other trip specific costs as well which are incurred and are eligible for coverage if travel insurance is in the place provided these costs are pre-paid and non-refundable. However it should be noted that not all reasons for cancellation are taken into account but few of the reasons that are covered are natural calamity which causes cancellation of flights or an unsafe environment for travel, injury, sickness, and death amongst others.
This is also very similar to travel interruption coverage which covers the above expenses when a trip is abandoned midway due to similar reasons as mentioned above. In this case, the remaining portion of the trip is covered.
2) Emergency Evacuation Coverage
This coverage as the name suggests is in case of emergency situations like medically equipped flights or airlifts due to a medical emergency in which the patient is often taken to their hospital or preference. It should be noted that this is very situational based.
3) Medical Emergency Coverage
This is a coverage which is often ignored because people assume that having medical insurance in place is sufficient, however, that is not true in all cases at the time of traveling and is often country-specific. This coverage includes cost related to accidents, dental care, and other medical emergencies.
4) Baggage Lost Coverage
This is a very small coverage but one that provides relief like any other. It is very common for luggage to get stolen, lost, damaged or even delayed due to flight timings. At the time of such an occurrence, coverage is provided based on the type of situation at hand.
Schengen travel insurance is mandatory while traveling to European countries. Travel insurance for Schengen visa should cover all the member states included in the Schengen area. There is a minimum amount that should be covered under this visa and the expenses that it covers are often related but not limited to emergency medical situations, treatment at hospitals and cases involving death. There are various companies that offer different plans for Schengen visa, and one that is most suited to an individual should be opted for.