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What does travel insurance cover?

by Rahul

Travel insurance is a must if you’re traveling overseas since it can help you cover unforeseen expenses. A few years ago, there was a misconception that this coverage was only made to cater to medical expenses alone. In reality, it helps cover much more than these, including assistance, evacuation, flight cancellation, loss, or delay. With travel insurance, you don’t need to worry about anything that comes across before and during your trip that causes financial losses. If you need travel insurance in Singapore, visit https://www.ocbc.com/personal-banking/insurance/explorer-travel-insurance.page. Travel insurance covers many aspects as explained below:

  1. Trip cancellation

Your trip might be canceled some days before you travel due to many reasons, including severe weather conditions, inaccessible destination, death or illness of a loved one, conflict, or natural disasters. Regardless of the cause of cancellation, you’ll get reimbursement for any expenses you’ve incurred. However, it’s essential to check the travel insurance policy before purchase to ensure you understand the reasons covered and those not covered. Some policies also cover additional expenses, including hotel and rental cars.

  1. Travel delay

Trip delay coverage will help you get reimbursed for any expenses resulting from the delay, including booking a hotel room at the airport. These travel insurance policies have limits on the average time that a journey should be delayed for one to qualify for reimbursement, typically more than 6 hours. The trip delay coverage also has a limit capped at mostly $2,000. The main reasons for travel delays include civil unrest, natural disasters, loss of travel documents, bad weather, etc.

  1. Accident coverage

This covers expenses if one is involved in any form of accident that causes disability, permanent injury, loss of sight, or even death. Accident claims are among the highest paid in terms of monetary value since once body can’t be repaired. This policy also covers medical expenses.

  1. Damage or loss of luggage

Your luggage might get damaged, stolen, or lost during your trip. Your baggage might be redirected to other airlines without your knowledge, left behind, or get stolen from your hotel room. In this case, you shouldn’t worry if you’ve already purchased travel insurance. To get reimbursement, the travel insurance provider will recommend an appraisal to ascertain the losses incurred. For damages, you should be able to quantify everything.

  1. Trip interruption

This covers any expenses that a traveler incurs after the trip is cut short. Some causes of trip interruption are bad weather, inaccessible destination, entry restrictions at the destination, etc. Here, one must ascertain the trip interruption reasons that the policy states before purchasing it to avoid disappointment. For instance, if you’ve been traveling for business reasons and the trip is cut short, the travel insurance provider might not reimburse you any financial losses you incur as a result of being late for your appointment.

In conclusion, these are some things covered by travel insurance. The cost will vary depending on the insurance provider. Before buying a travel insurance policy, ensure you check all its inclusions and exclusions.

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