In the past, many Nigerians bore the risks associated with travel and had to foot exorbitant bills due to loss, flight cancellation, medical emergencies etc. on their own. This is fast becoming a thing of the past due to the growing popularity of Travel Insurance.
Having a travel insurance plan
It’s a common thing to cancel a trip, lose a piece of baggage or have a medical emergency during travel. A travel insurance plan cushions this and covers the expenses on cancelled trips, stolen, lost or damaged baggage, medical expenses and accidents.
Note that travel policy varies in different countries, and travel insurance coverage may have slight differences. Also, the kind of travel insurance policy you will need depends on three factors: your destination, travel length and who is accompanying you on the journey.
Let’s look at what to do to get a good bang for your buck on travel insurance.
5 Ways to get good deals on travel insurance
Early-Bird
Purchasing insurance months ahead of your trip is a good way to get a lower rate. You can even decide to buy it when you have no plans to use it; this way it’s readily available during your travel.
Buy Group Plans
If you are travelling with family or friends, it’s better to put the whole participants under one travel umbrella. This is cost-effective and helps you save some extra money for your trip.
Customized Policy
You can customize your travel plan for only what you need, so you only have to pay for what is most important to you to avoid paying extra.
Plans Comparison
Avoid jumping on the first travel policy you see. Take your time to compare prices online and offline to know which plan is right for you rather than choosing to stay with one that is costly because it’s the one you are familiar with.
Annual Plans
If you are a frequent traveller or are likely to take multiple trips at different times a year, buying a plan per annum might be good. Rather than getting a travel plan every time you want to travel, annual plans cover up for the whole year, and you get a fair deal.
Can you get travel insurance for a trip already booked?
Yes, you can. It’s advisable to get travel insurance as soon as you book your first flight so that way the insurance covers it should you need to cancel the trip. However, you cannot buy an insurance plan on the day of the trip or when you have arrived at your destination. Travel insurance doesn’t apply to last-minute purchases.
What most travel insurance covers
Misplaced baggage
Travel insurance covers cases of misplaced or missing baggage. Sadly, flights are sometimes more responsible for lost luggage, and there can be unfortunate incidents of stolen luggage. Thankfully with insurance, you can get refunded for it with the cost of personal expenses.
Medical expenses
One of the worst things about travelling is medical emergencies like falling sick or accidents. Yet, these things happen, but the policy takes care of the cost of your medical bills.
Travel assistance
Your insurance plan covers you when you need legal help; perhaps you find yourself stranded or run into any legal trouble. There will be steps to help you contact a lawyer or help you get your passport back.
What is not covered by travel insurance
As with other types of insurance, travel insurance doesn’t cover every incident. Before acquiring a plan, it’s essential to understand what the policy excludes and includes.
Here are some issues not covered by travel insurance:
Sexually transmitted diseases
If you are admitted to a hospital on the account of STDs, venereal diseases or abortion, you’ll have to pay for that from your pocket because that is excluded from your travel policy.
Civil unrest
Visiting a country facing riot or civil unrest? Know that your insurer will not be responsible for whatever loss or damages to you or your property.
Others include but not limited to change of mind about your trip, pre-existing medical conditions, getting detained at customs, or participating in high-risk activities and sports.
Bottom line
Before purchasing a travel insurance policy, it is important to understand the basics just like you are doing by reading this article. Know what works for you to avoid buying what you don’t need, and ensure your policy includes your destination country.
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