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Discover The Two Most Common Types Of Travel Insurance

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You may not be aware, but there are 2 basic types of travel insurance available to people travelling abroad. With that being said, one of these types of travel insurance accounts for nearly 95% of all travel insurance policies sold. The two types of insurance plans covered in this post today are what the majority of travelers purchase, although there are also a number of specialty plans that can be tailored to suit your specific needs. However, these specialty plans are typically tailored to suit those of you have some very specific and unique needs whilst you are travelling.

Vacation Plans

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Nearly 95% of all travel insurance policies sold are in fact “Vacation Plans”. Whenever you think to yourself, “I need travel insurance”, it is likely it is a vacation plan that you are thinking about. Vacation plans come in a number of different guises and are even called by a wide variety of names, including travel insurance, trip insurance, package plans, etc. However, all these types of policy or plan simply refer to vacation plans.

This type of insurance policy will literally cram as much coverage and protection into a single plan as it can. You will usually be covered for flight delays and cancellations, lost, stolen or damaged luggage, medical emergencies, death, dismemberment, medical assistance required, lost or stolen cash, travelers checks, credit and debit cards, evacuations, and plenty more. The reason that vacation plans are so popular amongst travelers is because it packs in so much coverage at an affordable price.

So, if you are travelling to another country and you wish to take out some form of travel insurance it is likely that a vacation plan will suit you. You will be provided with protection in the likelihood of numerous events occurring and this really can give you some peace of mind. A vacation plan can typically be purchased from a travel agent along with your ticket, although most people agree it can work out far cheaper and provide much more comprehensive cover if you purchase it separately, e.g. from an online insurance or related website.

Medical Plans for Travel

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Most people will have some form of health insurance, but typically these plans won’t cover you if you are travelling outside your country of residence. Therefore, medical plans for travel or travel medical plans will provide coverage where your health insurance can’t. This type of policy is specifically for those of you who aren’t concerned about cancellation and other related losses, but more interested in covering medical emergencies, medical evacuation and even life insurance in some cases.

You may even be lucky enough to find travel medical plans that will provide insurance for pre-existing medical conditions, although these are likely to cost you a little more. Basically, any travel insurance policy that focuses more on the health and medical aspects will usually be taken by someone who has concerns about their health.

As mentioned, there are a number of specialty plans which will provide insurance coverage in special circumstances. The most common that most of us will be aware of is to provide insurance coverage for a rental car. You can also find insurance policies which will cover one type of loss or claim all on its own, such as covering yourself against any accidents.

Today’s feature writer, Andrea Wright, is a part of the team at Welcome Canada, a company providing insurance related services. She is quite passionate about discovering new places, and enjoys travelling during her spare time.