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| The Advantages of Travel Insurance |
The Babylonians and the Chinese Traders started the earliest records of insurance way back to the 3rd century. A travel insurance covers financial, medical and other related losses acquired while traveling. It covers the losses generally for travel domestically or internationally.
The Travelers Insurance Company introduced the first modern day travel insurance on the 1st of April 1864. It was founded by James Batter son, the company's clients were the first travelers who insured for the purpose of insuring themselves against loss of life or personal injury while travelling by railway or steamboat.
Since then, the industry has grown steadily around the globe, particularly in the US, but compared to other types of insurance, the growth was rather slow. The horrendous 9/11 attack was the turning point of the travel insurance industry. After the incident, the sale of the insurance dramatically began to shoot up.
Many travelers are aware of the advantages of purchasing this kind of insurance. They are fully aware of the protection they are entitled to get should an accident occur. As the numbers of travelers arise, the risks of travel are on the increase, as well.
How to choose the right Travel Insurance company
You can never tell when an accident is going to hit you, whether you are crossing down the street or just simply walking down the stairs, accidents can happen. So, it is very important that you have yourself covered especially when traveling abroad. A comprehensive insurance when traveling should be your first consideration after booking a flight. Should an accident or illness occur, you need not to worry even if you are in a semi remote area as long as you are insured. So, in choosing your travel coverage, consider the many must haves.
The insurance must have an unlimited cover for both dental and medical assistance. Unlimited cover for overseas evacuation and emergency medical assistance and accreditation with a global specialist organisation. You must know if the company that underwrites your insurer is a strong, global one. Make sure that it offers good value for money.
Make sure that your policy also covers baggage lost even if still under the care of an airline, it is important that your baggage has this protection because while some missing bags are traced and returned within a day or two, there are some that disappear for good. If you have to cancel or cut short a trip, a good insurance policy will pay you compensation for reasons such as illness or a death in the family.
Personal liability cover is another important inclusion in your policy. If in case you face legal bills resulting from accidentally hurting someone while you are abroad, your insurer will be the one to handle this for you. There are also some insurers who cover new-for-old; in this case they replace stolen items with brand new ones.
More importantly, your insurance company must be accessible anytime of the day. They must provide you with a 24-hour helpline that will provide help and advice should the need arise. It is important that we feel very secure especially when traveling abroad. By choosing the right company with the right policies offered, you need not to worry and rest assured that you will have the assurance that you are traveling safe and sound.