Everybody loves to travel – to see new places, meet new people, have adventures and make great memories – but no trip is without its risks. A trip abroad whether it is for business or pleasure can take weeks and even months to plan, but just seconds to ruin. Don’t compound the misery of a spoiled holiday by ending up with an unexpected bill.

A good travel insurance policy will provide cover for most eventualities and is relatively inexpensive. For example, a travel plan with comprehensive benefits for a two week trip can be obtained within a few hours and cost not much more than about $3 (Baht 100) per day.

YET each year many people deeply regret traveling without it.

Get the appropriate cover

Before you buy a policy always check the policy conditions:

• It may seem obvious, but do make sure your travel insurance plan covers you for the whole time that you are away, including the days you travel.
• Make sure the country you are travelling to is covered.
• Activities such as skiing, and scuba diving are commonly excluded by most insurers in Thailand. You may need additional cover for recreational activities.

The overall insurance premium will depend on the duration of your trip. There are short-term travel rates available from just a few days up to two weeks or more for annual vacations or business trips. For frequent travelers it makes financial sense to save on administration by purchasing an annual policy that covers multiple trips of up to 90 or 120 days or more and provides maximum flexibility.

So, what is covered?

Travel insurance policies vary considerably, both in terms of coverage, and price.  Some insurance policies are designed to meet the statutory minimum for visa requirements, for example, to qualify for a Schengen Visa, and cover just Medical Expenses and Personal Accident. Others provide much more comprehensive coverage for most eventualities whilst overseas, including:

• Personal accident cover – disability and death. Travel insurance can cover a personal accident payment made for permanent disability or death.
• Medical Coverage. Each year thousands of people are hospitalised overseas as a result of injury or illness. The cost of overseas medical treatment, in other parts of Asia or the USA for example, can be very substantial, and unless you have a medical insurance policy that provides international coverage, ensure your travel policy provides adequate cover for accident and illness.
• Emergency Evacuation and Repatriation.  Additional coverage that provides you with emergency medical transportation services in case you need to be evacuated to the nearest qualified medical facility, although not necessarily to your home country. Some plans will cover the costs of taking you home (repatriation) once your condition is stabilised, but double check the insurance plan you are considering.
• Cancelling or cutting a trip short. A good travel policy will compensate you for cancelling or cutting a trip short. Check carefully to see exactly what you’re covered for but it will typically include things like:
  • Accident or illness affecting you or family members which necessitates the trip being cancelled
  • An emergency at home, for example, a fire, storm or flood, burglary
  • An unexpected outbreak of civil unrest
  • A serious injury to a travel companion
• Travel Delay. This compensates you in the event that you are delayed, for example, in the event of bad weather that affects the departure of flights and ships.
• Loss or damage of personal property. Most policies have limits for single items such as cameras and jewellery. Check that the limits are adequate and realistic.
• Lost baggage on flights. If an airline loses your luggage, by law they only have to pay a specified minimum value per kilo of lost luggage. This is unlikely to cover the full value of your things. Make sure your policy makes has adequate coverage for lost baggage.
• Personal liability insurance. You may accidentally cause an injury to a third party or damage their property. A good travel insurance policy will cover you for personal liability in the event that they decide to sue you.
• Loss of money and/or travel documents. If you are unfortunate enough to become a victim of a crime, this will cover you for loss of money and traveler’s cheques. However, the limits are generally low and so you may find that it does not compensate you in full. It is important to note that it does not cover you if the loss occurs as a result of your forgetfulness or negligence.
• Legal expenses cover. Taking out legal expenses cover will help you to pursue compensation or damages following personal injury while you’re abroad – an important feature in countries without a legal aid system.

A few final words

If you intend to claim compensation as the result of a loss or theft, you must make sure that you report the incident to police within 24 hours. A police report will be required as supporting documentation when you make your claim.  Also, insurance policies say that you must take care of your belongings at all times. If you don’t, the policy may not pay out.

If you are travelling abroad for business or pleasure don’t leave home without adequate travel insurance. There are many different travel insurance policies available from different insurers.  At Trafalgar International we have insurance professionals that can help you choose the right one for you. It can be arranged very quickly and the premiums are affordable.