We all look forward to going on holiday, be it just for a few days or an extended stay. However, in all the excitement, we often don’t think about things going wrong. Unfortunately, accidents do happen, baggage can get lost, and planes are cancelled, so it’s much better to be prepared for any eventuality and that’s where travel insurance comes in.
Travel insurance gives you peace of mind while you are on your holiday. Imagine how expensive it will be if you get sick in a foreign country and aren’t covered by the healthcare system. Think how annoying it can be if your holiday is cancelled or if you have to cancel it due to illness in the family. What if your luggage goes missing and doesn’t reappear? You could have spent a fortune on a new wardrobe or brought expensive electrical appliances with you. To avoid all this worry, the simple answer is to take out travel insurance. It will give you financial protection against things going wrong.
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Travel Insurance
What Does Travel Insurance Cover?
Travel insurance companies generally offer a range of policies from the most basic to ones offering the highest financial compensation.
Some have add-ons to their policies to provide extra cover for such things as extreme sports and cruises. Most also offer both single-trip and annual cover for as many trips as you want to take in a year.
If you plan to take three or more trips in one year, annual coverage generally works out to be cheaper.
The most important cover you need if you are travelling internationally, is for medical expenses in case you fall ill or have an accident.
You need to read the small print and check that it covers doctors’ fees and hospital bills.
The insurance company can also help to arrange care and make sure that you go to a medical facility of the same standard as you would have at home.
You need to check whether or not your provider insures pre-existing conditions. Some do, others don’t.
Some will ask you to take a medical evaluation for a pre-existing condition before they will insure you for it. Even if they don’t, they will still insure you for accidents and other illnesses that occur on holiday.
Not all providers will now insure you for COVID-19. Some do include it in their policies, others offer it as an extra.
Another cover provided in most policies is trip cancellation.
This will insure you if you cancel your holiday for a covered reason such as illness, injury, death of a family member or travelling companion, job loss, military deployment or jury duty.
Many policies will refund airline tickets, hotel rooms and tours.
Cancellation can also be covered if the trip is cancelled or delayed for over 24 hours through no fault of your own.
If your plane is delayed, many policies will cover food and lodging expenses incurred during this time. Some companies will cover you for any length of time while others will state a minimum period which could be anything between three and twelve hours
Trip interruption is another cover many companies offer.
If you get sick or are injured, or if you have to go home for a family emergency, you will be reimbursed for unused hotel rooms, tours, and other non-refundable expenses.
Some companies pay for a plane ticket home as well.
Airlines compensate passengers for baggage loss but travel insurance companies may offer better financial benefits.
They will also cover you for baggage lost or stolen while you are at your hotel or travelling on a tour.
Generally, cash is not covered, nor is expensive jewellery.
Many travel insurance companies offer add-ons to their policies, such as extreme sports like skiing, hiking, and bungee jumping.
Some have separate policies for special holidays like cruises and backpacking where there are additional risks.
Have There Been Any Changes To Policies Since COVID-19?
COVID-19 drastically changed everything in the travel world.
Initially, ail travel almost ground to a halt and even as restrictions eased, there were different rules put in for travel, with most countries wanting you to have vaccinations and tests to allow entry.
This all had a big impact on travel insurance companies.
Many of the small operators closed down, never to reopen again, giving less choice since the pandemic finished.
As lockdowns eased, not many people travelled even when they were allowed to because of confusion as to what their insurance would cover.
For example, would they be covered if they tested positive before travelling and had to cancel their trip? Policies rose in price due to the extra cover provided.
Since the pandemic, many people have started travelling again but travel insurance policies haven’t gone back to pre-COVID-19 prices.
After all, the providers lost a lot of money during the pandemic.
Travellers are now tending to book their travel insurance earlier so that they are better prepared for things going wrong.
Customers also seem to be opting for higher levels of insurance, especially when it comes to medical coverage.
The pandemic has made people more aware of their vulnerability.
As COVID-19 isn’t such a worry anymore, not all policies cover it, so it is something to check if you feel you are vulnerable to the illness. Some policies will include COVID-19 within their medical insurance, others offer it as an add-on.
Tips To Consider
Expect to pay between 4% and 10% of the price of your holiday.
You can pay more if you want higher benefits and extra coverage for such things as extreme sports.
You may also pay more if you are an older traveller, as there is a higher risk things may go wrong, particularly medically.
Although you may think about taking out only medical insurance, you should consider taking out a policy for cancellations.
While airlines now do reimburse travellers for cancelled and delayed flights, you may have to cancel the trip yourself for reasons beyond your control.
If you aren’t insured, you could lose a lot of money.
Some credit cards do have built-on travel cover but you do need to check if you are eligible and if so, what the benefit levels are.
It is important to note that the cheapest policy might not offer the best value so always check what it includes.
You are always best not to under-insure yourself as you could come unstuck.
So where do you get travel insurance from? In this day and age, online is one of the best options. Plenty of companies will appear when you search, which may be a bit overwhelming.
However, comparison websites may help. If you prefer to speak to someone face-to-face, banks, retailers, and travel agents sell travel insurance.
If you are booking a holiday with flights and accommodation included, you will generally be offered insurance but you are not obliged to take it out with them and can choose your own.
Let’s now take a look at some travel insurance companies.
Travel Insurance Policies
If You Live In USA
Safety Wing
Safety Wing offers medical insurance for travellers. Nomad Insurance covers travel in over 180 countries. You can sign up before you go or take it out while you are travelling, though not for any injuries or illnesses that have happened before you sign up.
Many sports are covered, including skiing, though not off-piste. However, there are some sports such as hang gliding and scuba diving which are only covered as an add-on. Theft coverage for electronics is also covered as an add-on.
Remote Health offers health care for remote workers all over the world. You don’t have to have health checks before you sign up, but you must be 74 or under. However, if you have taken out the policy before this age and exceed 74 years, it remains valid.
Visitor’s Coverage
Visitor’s Coverage offers a wide range of plans to suit different needs. Travel Medical Insurance & Trip Insurance and Visitors Coverage.
Travel Medical Insurance & Trip Insurance is good for those who want full medical coverage for their trip. It also covers lost luggage but not trip cancellations or delays.
Trip Insurance, on the other hand, covers you for flight cancellations, missed connections, and delays. It also offers limited coverage for emergency medical expenses. If you want full medical cover, take out the first policy.
Other plans include Europe/Schengen Visa Insurance, Group Travel Insurance, Business Travel Insurance, Cruise Insurance, and Multi-Trip Insurance.
Ekta Travelling
Ekta Travelling offers health insurance for international travel and is available for citizens aged from 2 months to 100 years. It includes COVID-19 treatment and there are two choices when it comes to sports.
Quiet Rest covers sports such as aerobics and swimming, while dangerous sports include injuries sustained during dangerous sports such as alpine skiing, cliff diving, and kitesurfing.
Flight cancellation and lost luggage are also covered.
Insubuy
Insubuy offers medical coverage, trip cancellation, trip interruption, accidental death, return of remains, and lost baggage. Plans can include COVID-19 insurance and Schengen visa insurance is also on offer for travel to the EU.
There is a separate plan for those wanting to take part in adventure sports with an add-on for hazardous sports such as mountaineering.
World Nomads
Learn more
World Nomads offers different plans which include trip interruption and delay, delayed baggage, emergency medical and dental treatment, including COVID-19 cover, repatriation, death overseas, adventure activities, and Schengen visa travel insurance.
There are two plans for adventure sports, the Standard Plan and the Explorer Plan. Although the Standard Plan covers 150 sports, if you want to do extreme sports such as hiking or diving, go for the Explorer Plan.
Travelex Insurance Services
Travelex Insurance Services offer three levels of trip cancellation and interruption plans which includes lost baggage and personal effects.
Travel Basic provides essential cover while Travel Select gives more comprehensive coverage with an add-on for adventure sports cover. Travel America has an add-on option for adventure sports coverage.
It also offers a plan for emergency medical and dental care in the event of an unexpected injury or illness.
Allianz Travel
Allianz Travel offers both single and multi-trip insurance policies. One-Trip Basic includes emergency medical coverage, trip cancellation and lost or damaged baggage, One Trip Premier doubles these benefits while One-Trip Emergency Medical covers medical care, trip delays, and lost luggage, but not trip cancellation.
All-Trips Basic gives emergency medical treatment while All-Trips Prime gives both medical and cancellation benefits.
Heymondo
Heymondo is unusual in that it includes adventure sports and cruise travel in its policies. Most companies have these as an add-on. The plan also includes emergency medical and dental cover, emergency medical evacuation, repatriation of remains, cancellation, delays and lost baggage, It offers both single and multi-trip plans.
AXA
AXA offers both single and multi-trip policies. There are separate plans for trip cancellation, medical insurance, and Schengen Visa insurance for travel in the EU. Also on offer is a winter sports insurance plan
Comparison Table Of U.S.A. Travel Insurance Companies
| Medical | COVID | Cancellation | Sports | Schengen | Multitrip | |
|---|---|---|---|---|---|---|
| SafetyWing | Yes | X | X | Optional | X | X |
| Visitors Cover | Yes | X | Yes | X | Yes | Yes |
| Ekta | Yes | Yes | Yes | Yes | Yes | X |
| Insubuy | Yes | Yes | Yes | Optional | Yes | Yes |
| World Nomads | Yes | Yes | Yes | Yes | Yes | X |
| Travelex | Yes | X | Yes | Optional | X | X |
| Allianz | Yes | X | Yes | X | X | Yes |
| Heymondo | Yes | Yes | Yes | Yes | X | Yes |
| AXA | Yes | X | Yes | Yes | Yes | Yes |
If You Live In U.K. or Europe
Safety Wing
Safety Wing offers Nomad Insurance and Remote Health Insurance. Nomad Insurance gives medical insurance for extended travel all over the world except in your home country. You can sign up before you go or during your trip for the rest of your holiday.
The Nomad Insurance plan covers many sports including skiing, though not off-piste. However, there are add-ons for more dangerous sports, such as motorbiking, sk-fllying, and skydiving. There is also an add-on for electronic theft.
Remote Health Insurance offers medical insurance for remote workers all over the world. You can apply up to the age of 74 but will still be covered after this age if you have an existing policy.
World Nomads
Learn more
World Nomads offers excellent policies covering medical emergencies, including COVID-19, trip cancellation and interruption, trip delays, personal possessions, loss of passport and other documents, emergency dental treatment, emergency evacuation and repatriation, death overseas, and adventure activities.
When it comes to adventure and sports, there is a choice of two plans, Standard and Explorer, with the Explorer plan giving you cover for more dangerous sports.
If for example, you want to go boating, you will be covered by the Standard Plan, but if you want to dive, you will need the Explorer Plan.
Extras
Extras has policies for single trips and multi-trips. Cover includes emergency medical care and repatriation, cancellation of the holiday, loss of personal possessions and passports, missed departure and connection, and personal liability legal costs.
There is a special policy for cruises which, in addition to the above, includes missed port, cabin confinement, unused excursions, and evening wear.
Heymondo
Heymondo offers a wide range of cover with its policies including emergency medical and dental cover, emergency medical evacuation, repatriation of remains, trip delay, cancellation and interruption, cruise travel, and adventure sports.
Heymondo has both single and multi-trip policies available.
Allianz Assistance
Allianz Assistance is another company that offers both single and multi-trip policies. They have three plans, Bronze, Silver, and Gold, offering different levels of cover. Policies include cover for emergency medical expenses, cancellation, missed and delayed departure, delayed baggage, loss of passport, and legal expenses.
You can get add-ons to your policy for golf, winter sports, other sports, business travel, and cruises. Cruise cover includes cruise interruption, missed port, cabin confinement, itinerary changes, and unused excursions.
You can add on options for sports cover and for cruises to your policy. Cruise cover is only available for ocean travel, not river.
Comparison Table Of U.K./Europe Travel Insurance Companies
| Medical | COVID | Cancellation | Sports | Cruises | Multitrip | |
|---|---|---|---|---|---|---|
| Safety Wing | Yes | X | X | Optional | X | X |
| World Nomads | Yes | Yes | Yes | Yes | X | X |
| Extras | Yes | X | Yes | X | Yes | Yes |
| Heymondo | Yes | X | Yes | Yes | Yes | Yes |
| Allianz | Yes | X | Yes | Optional | Optional | Yes |
If You Live In Australia
Cover-More
Cover-More offers both single and multi-trip policies. They have three levels of cover, International Basic, International Comprehensive, and International Comprehensive Plus.
As each level goes up, you get increased financial protection.
All cover emergency medical care, including COVID-19, cancellation, loss of baggage, and rental vehicle insurance.
You can apply for cover for existing medical coditions. Business travellers are covered under Comprehensive Plus.
Insure & Go
Insure & Go has policies covering both single and multi-trips. Single-trip policies cover medical expenses, cancellation, and baggage loss. It also includes pregnancy coverage for up to 30 weeks.
The annual policies allow you to take as many trips as you like within a year. They include medical cover, unlimited cancellations, and 90 different sports including hiking, bungee-jumping, diving, and cycling. Pre-existing medical conditions are all considered.
Insure & Go has several special policies on offer, such as backpacking, domestic travel, senior policies for ages up to 90 years old, and cruise travel.
Tick Travel Insurance
Tick Travel Insurance covers medical emergencies, including COVID-19, cancellations and delays, baggage and personal possessions, and loss of passport.
An interesting addition is additional pet care due to delay so is a good company to consider if you are paying for pet care while you are away.
There is free coverage for under-18 dependents. You can apply for pre-existing medical conditions to be covered on your policy.
Travel Insurance Saver
Travel Insurance Saver offers both single and annual insurance policies. If you plan to travel for longer than a year, there is a long-term travel insurance policy on offer. You can choose between domestic and international cover.
Policies offer medical cover which includes 40 conditions. You can opt to include COVID-19 cover. It is possible to have a medical screening for other conditions.
The policies also include medical evacuation and repatriation, trip cancellation, and lost baggage, Dependant children have free cover.
There are plenty of add-ons if you want extra cover for such things as cruises, skiing, and rental vehicles. There are policies for seniors as well but expect to pay more.
Cruising is offered as part of the policies, but there are plenty of add-ons if you want extra cover for such things snow sports and rental vehicles. Snow sports cover is only available on International Comprehensive, Annual Multi-Trip, and Australian Travel plans.
Travel Insurance Direct
Travel Insurance Direct gives you the choice between domestic and international travel insurance. Domestic insurance includes cancelled accommodation, lost or stolen valuables, and car hire excess.
International cover has two plans, Budget and Comprehensive, which offer different financial benefits for emergency medical care, medical evacuations, lost and stolen luggage and personal effects, and rental vehicle insurance excess. The Comprehensive policy covers COVID-19.
Annual policies are also on offer which give the same benefits as the single-trip policies, with the addition of cover for 150 activities and sports.
Cruises cover is part of the standard insurance policies offered.
Southern Cross
Southern Cross has plenty of options on offer. It has policies for domestic and international cover, single and multi-trip, working overseas, and medical only.
Standard policies include medical and evacuation cover, cancellation, loss of baggage and personal items, personal liability, rental vehicle excess, pet services, and childcare expenses. There are add-on options for motorbike riding, skiing, and cruises.
Safety Wing
Safety Wing offers insurance for extended travel all over the world outside Australia. The main cover is for medical expenses, but you can add on adventure sports and electronic theft.
Many sports are included in the Nomad Insurance policy, including skiing, though not off-piste. However, for more extreme sports like snowmobiling and scuba diving, you need to take out extra cover.
Remote Health supplies medical insurance for remote workers.
Heymondo
Heymondo supplies both single-trip and annual insurance. Both offer medical insurance, including COVID-19, cancellation and interruption of the trip, lost baggage, adventure sports, and cruise travel.
World Nomads
Learn more
World Nomads offer extensive cover. Emergency medical care is covered, including COVID-19, cancellation and interruption to the trip, trip delays, emergency evacuation and repatriation, death overseas, delayed baggage, natural disasters, and adventure activities.
When it comes to sports and adventure, there are two plans, Standard and Explorer, with the Explorer giving you extra cover for more dangerous sports.
Comparison Table Of Australian Travel Insurance Companies
| Medical | COVID | Cancellation | Sports | Cruises | Multitrip | |
|---|---|---|---|---|---|---|
| CoverMore | Yes | Yes | Yes | Optional | Optional | Yes |
| Insure & Go | Yes | X | Yes | Yes | Yes | Yes |
| Tick | Yes | Yes | Yes | Yes | X | X |
| TID | Yes | Yes | Yes | Yes | Yes | Yes |
| Southern Cross | Yes | Yes | Yes | Optional | Optional | Yes |
| Heymondo | Yes | Yes | Yes | Yes | Yes | Yes |
| World Nomads | Yes | X | X | Optional | X | X |
| Travel Insurance Saver | Yes | Yes | Yes | Optional | Yes | Yes |
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