What is Travel Insurance?
Travel insurance is a type of insurance that covers all the unplanned and uncertain risks that a person can face while travelling. It can be loss of luggage or passport, flight delay and cancellations and even trip cancellations. Travel insurances are mandatory in most of the countries while applying for the visa.
Travel insurances usually start from the day of the travel begins till the person reaches back to UAE. It also covers trips within the country, but travel insurance is generally preferred for international trips.
Benefits of Travel Insurance
Along with financial protection, travel insurance covers baggage loss or delay and accidents or medical emergency on your trips as well. Travel insurance companies will give you access to their assistance services at any hour of the travel and ensure that all your needs are met.
Risks covered by travel insurance depends on the plan/terms of the policy and, some of the risks are specific to the place the person is travelling to. Some of the many benefits of travel insurance are:
- Trip Curtailment/Trip Cancellation : In case of any emergency or delays in flights by airlines, the insurance will cover your food and stay expenses. If your trip gets cancelled due to family emergency or any sudden change in your travel plans, the insurance will cover all the hotel and flight costs.
- Baggage Loss : In case of baggage loss, the insurance covers all the cost of your baggage and its valuables. If there is a delay in the arrival of the checked-in luggage, the insurance company also covers the cost of new clothing and other necessary expenses.
- Emergency Medical Expenses & Evacuation : If any medical condition requires you to be transported to the nearest hospital or your home country by air, land and sea depending on the health condition, the insurance company covers all the costs for the same.
- Accidental & Sickness Expenses : The insurance also covers the expenses of any personal accidents during the travel.
Types of Travel Insurance in the UAE
Some of the common travel insurance types are:
- Individual Travel Insurance : This type of insurance is for solo travellers or people travelling alone internationally or within the country. For someone who is travelling alone, this is the best travel insurance as it can cover expenses for your baggage loss or any emergency medical assistance.
- Senior Citizen Travel Insurance : Considering the different risk factors that senior citizens can face while travelling. This type of insurance caters to the needs of travelling senior citizens which covers all the basic benefits like baggage loss and flight delay. Along with that, the insurance companies also cover pre-existing medical conditions and cover the additional costs of hospitals.
- Corporate Travel Insurance : These type of insurances cover expenses for people travelling for business purposes. Travel insurance for companies is customised as per the company's needs.
- Multi-Trip Travel Insurance : If you are a frequent traveller, multi-trip insurance is the best choice for you and you can travel peacefully without worrying about things. Multi-trips cover the same expenses for all the trips you take during the term.
- Schengen Travel Insurance : Schengen travel insurance is for people travelling to Schengen countries. This type of insurance covers expenses of lost passport, medical emergency or even loss of important travel documents in the European countries.
- Student Travel Insurance : Students travelling for education purposes must have a student travel insurance as student life can be tough especially when it involves moving to another country. This insurance covers financial issues, health issues and all the other common benefits like loss of passports or travel delays.
Inclusions & Exclusions of Travel Insurance
Travel insurance coverage can change from policy to policy, it is best to compare and decide which policy suits your needs.
Common inclusions of a travel insurance plan are:
- An emergency medical treatment and evacuation if required, travel insurance plans in UAE covers the medical expenses of the insured.
- Coverage on trip cancellations or curtailments which may occur due to any medical emergency or personal accidents is covered. In such cases, the insurance company will cover the expenses for trip tickets and hotel charges.
- In the case of baggage loss or delay, the insurance company covers the cost of necessary clothing and other requirements.
- 24/7 customer service over call, mail or in-person if required, is provided to the insured.
Common exclusions of a travel insurance plan are:
- Pre-existing medical conditions or illness
- Delays in the trip due to civil disturbances
- If the loss or delay of luggage is less than 24 hours
- Accidents due to civil or war protests
Additional Coverage For Travel Insurance
Most of the travel insurance companies in UAE offer additional coverage or add on benefits on paying extra premium. These add ons can be added by paying an extra premium to cover any specific needs on your trips. Here are some of the common additional coverage that can be purchased:
- Cover for high-risk adventure sport activities
- A trip to war-prone zone can be covered
- Pre-existing illness or medical condition
- AD&D cover - Accidental Death or Dismemberment
How To Choose The Best Plan?
With so many travel insurance plans available in the market, it can be difficult to choose the best one. Here are some of the things that you can keep in mind before choosing a plan:
- Affordability : Before choosing any plan, make sure to check if the premium is affordable and justifies the coverage as per your needs.
- Destination : Travel destination is extremely important as the travel insurance plans can change depending on the country you are travelling to as it depends on the medical expenses of the country.
- Duration of Travel : The duration of the travel matters as the longer the stay bigger the premium gets. To choose a travel plan make sure to check which plan charges a lesser premium for your entire trip.
- Coverage : Coverage offered by different insurance providers can differ and it is best to compare and analyze before you choose a travel insurance plan. To choose the best one, check if the coverage offered covers most of the risks that you may incur on the trip.
- Claim Settlement Ratio : Always remember to check claim settlement ratio/percentage of the insurance company. The higher the ratio the better the company, if the company has settled more claims then the company should be preferred.
Why Choose Us?
Soulwallet provides you with an online platform to compare and choose insurance that is best suited for you. Compare various insurances from different companies based on your needs and buy the best one. Get quotes and compare features and benefits from various insurance providers and make the right choice for your investment with us.