Insurance is like securing our life in terms of money. Whether it be life or non life, our intention is to cover the risk, monetize the value of our life or non life and make them secure through the entities like insurance agents or companies. Insurance policy is a contract which is prepared by insurer where every detail of risk coverage is thoroughly written, every terms and conditions are mentioned in it that the insured (the person who takes insurance coverage) will be compensated if he or she experiences a loss that is covered by the insurance policy. For this the insured need to pay certain amount of money which is called premium to get any insurance coverage. So securing ourselves from uncertain financial loss through the entities who provide insurance services whom we said insurer is insurance.
Likewise air travel insurance (airline travel insurance) is also intended to cover the financial risk that one can obtain while traveling through air. This air travel insurance coverage help to protect your trip investment from the uncertain and unforeseen risk that may interrupt your flight. And the risk coverage are flight accident, trip cancellation, medical expenses which can be per-occurrence or upto maximum-limit, luggage lost or any other losses that can be occurred during your air travel either domestically or internationally and these risk coverage are exactly during your air trip time and not before or after.
You can insure your air travel at the time of booking your ticket/trip and it can be either single trip or multiple trip insurance policies. In single trip policy, the risk coverage is only for your particular trip which covers exactly the duration of your single trip and multi trip policy cover your multiple trips within a certain period of time. Travel insurance basically covers cancellations, evacuations, medical expenses, losses or delays and 24/7 assistance.
Major risks covered by the air travel insurance:
These are the coverages which you can get on your regular premium cost.
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Trip cancellation.
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Trip interruption.
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Emergency Evacuation and repatriations
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Damage or lost of baggage, travel documents and any other personal belongings.
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Delay of baggage
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Flight delay due to weather or airline’s rescheduling or delay.
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Overseas funeral expenses
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Return of a minor
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Flight accident
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Accidental death
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Injury or disability
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Flight hijacking
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Flight connection missing due to airline rescheduling or delay.
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Health insurance.
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Medical emergencies which covers medical transportation to the medical treatments and facilities.
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24 hour assistance, where you can call in emergency or have any medical issues, stolen baggage, lost passports, cancelled flights and so on.
Additional risks covered by the air travel insurance:
These are the coverages which you can get on paying additional premium cost and varies on insurer’s insurance policy and service providing guidelines. They may be air travel life insurance covering accidental death or disability, pre occurring medical conditions, rental car collision, identity theft while traveling, hazardous sports (like scuba diving, mountain climbing), travel to high risk countries like war, terrorism or natural calamities, etc.
Please feel free to leave your comment below if you have to say anything related with air travel insurance or want to give us some feedbacks.
References:
https://en.wikipedia.org/wiki/Travel_insurance
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