Travel insurance implies the coverage for pitfalls associated with travel. The losses may be incurred in a domestic or an international level.
This type of insurance is intended to cover financial and other losses incurred at the time traveling. Broadly travel insurance coverage can be classified under the following heads: Cancellation of a trip. It may be physical illness or any such emergency. Very often it happens like this that the traveler must cancel the trip because of unforeseen circumstances. Now, if the holiday package is already bought then he must have to face a big financial loss. Interruption during the trip. It is under such circumstances travel insurance works like a savior.
This type of travel insurance covers the damages occurred due to trip interruption. However, if the trip is insured then he can avoid this loss. In the event a trip is interrupted because of illness or the booked hotel ceases to continue to operate or any other such occurrences, the traveler shall face a financial loss. Loss of luggage or other valuables. To cover the financial damage incurred because of the inconvenience resulted from the loss of luggage one can go for travel insurance. Since the work of a traveler is to move from here and there, he may lose his luggage or other such expensive possessions during his journey.
Default Protection. In this case the person who will be in the receiving end is the traveler. It may happen that a trip is cancelled because a carrier or tour operator is no longer in business. However, travel insurance will help him recover the losses he incurs due to the cancellation of the trip. In addition to the above, travel insurance covers delayed departure, emergency replacement of essential items, accidental death, medical expenses, injury or disablement benefit, personal liability and rental car damage, loss of income, legal assistance, high risk sports like skiing, scuba- diving, travel to high risk countries etc. Other types of losses.
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