24.02.2023

What is Travel Insurance?

Travel insurance is a type of insurance that provides protection for travellers' medical emergencies, travel cancellations, lost luggage and other travel risks. This insurance aims to cover the costs caused by unexpected events that may occur during the trip.

What are Travel Insurance Coverages?

The coverage of travel insurance policies is determined by the insurance company and can be customized according to the policyholder's travel type, destination and needs. Travel insurance usually includes the following coverages:

1. Emergency Medical Expenses: When traveling abroad, you may encounter medical emergencies. Travel insurance may cover emergency medical services and treatment costs.
2. Trip Cancellations and Delays: Due to flight cancellations or delays, you may need to make changes to your travel plans. Travel insurance may cover extra costs incurred due to flight cancellations or delays.
3. Loss of Luggage: Luggage may be lost during travel. Travel insurance can provide compensation for lost or damaged luggage.
4. Travel Accidents: While traveling abroad, you may have an accident. Travel insurance may cover medical and other expenses incurred due to travel accidents or illnesses.
5. Emergency Household Items: While abroad, you may have to return home in an emergency. Travel insurance can reimburse some of your travel expenses in case you need to end the trip early due to an unexpected circumstance.

These coverages do not fully reflect the coverage in travel insurance policies and there may be differences between companies. Before purchasing a travel insurance policy, it is recommended that you carefully read the coverage in the policy and choose an appropriate policy to meet your needs.

How Did the Pandemic Approach Travel Insurance?

The COVID-19 pandemic has caused a number of changes to travel insurance. Due to the pandemic, many countries are implementing travel restrictions and quarantine measures. This situation has revealed some new conditions and exceptions for travel insurance. It has some effects as follows:

1. Cancellation Protection: Some travel insurance companies have started providing protection for trips canceled due to COVID-19. This can provide reimbursement of travel expenses should trips be canceled due to the pandemic.
2. COVID-19 Coverage: Some travel insurance policies have been updated to cover the costs of treatment for COVID-19 infection. However, this coverage is often subject to certain conditions and should be carefully reviewed by policyholders.
3. Travel Exemptions: Some travel insurance companies have introduced some exemptions due to the pandemic. For example, they may not offer coverage for people who don't want to travel due to COVID-19.
4. Travel Restrictions: Some travel insurance companies have updated their policies to include travel restrictions in the country of travel.
5. Flight Cancellations: Some travel insurances can help reschedule or reimburse flights in the event of flight cancellations.
6. Due to the pandemic, travel insurance may work differently than we've ever been used to. Therefore, it is important for policyholders to first review the details on their policies and contact companies.