WHY TRAVEL INSURANCE?

TRAVEL RIGHT!! Most of us love to plan for that much awaited holiday to get away from everyday life. While we all want to have the perfect holiday, things may not go on to be smooth sailing always. There are times when your flight may get canceled due to various reasons, or your baggage could get lost in transit, or the flight could get delayed/grounded for technical reasons thus spoiling your well-planned holiday. Travel has its own risks and it’s important to make travel insurance an important part of any travel plans you make.

 

WHY DO I NEED TRAVEL INSURANCE EVERY TIME I TRAVEL?

  • Trip Cancellation: There may be some emergency owing to personal or business reasons, and the said trip may not take place. A trip cancellation coverage is an ideal policy to buy in these cases.
  • Flight Cancellation: A flight can be cancelled due to bad weather, technical or other circumstances. In such cases, expenses incurred to buy a new ticket, and stay at a hotel till we board the flight will be insured.
  • Connection Flight Missed: Due to unforeseen circumstances, if the connecting flight/ship is missed, a missed connection coverage has you covered. The cost of the new flight/ship to be boarded will all be undertaken in the policy.
  • Natural Disaster: When a natural disaster like a tornado, flood or hurricane hits the destination you intend travelling to, the trip will most often stand cancelled. A travel insurance covering weather damage will help you in arranging an alternate holiday destination.
  • injury/sickness during trip: While on holiday, our health may take a turn for the worse and may require you to take emergency medical assistance. Having a travel medical coverage will help you pay for the medical bills and also cover any other financial help needed.
  • Lost Baggage or Delayed Baggage: If your luggage is stolen, lost or delayed, luggage coverage helps in payment for new clothes and accessories.

 

WHAT ARE THE TYPES OF TRAVEL INSURANCE POLICIES IN MALAYSIA?

  • Annual Travel Insurance: Any number of trips you may take in a year is covered under this insurance. This is valid for a period of 90 days for a decided location. This insurance is apt for frequent travelers.
  • Single trip: The most common form of travel insurance, a single trip insurance covers the holder for a return trip to a destination and back. Coverage time is usually more than 90 days each trip.
  • Family travel insurance: This type of insurance covers the holder, his/her spouse, and also one or more children under the age of 18 (unmarried).
  • Student travel insurance: Students who want to pursue education abroad, can avail this policy.
  • Islamic travel insurance: A Shariah compliant insurance, known as TAKAFUL, involves pooling money to guarantee each other against any loss. No premiums are required to be paid under this plan.

 

WHAT ARE THE EXCLUSIONS IN A TRAVEL INSURANCE POLICY?

  • Preexisting medical conditions
  • Suicide
  • Sexually transmitted diseases
  • Abuse of alcohol/drugs
  • Acts of violence/terrorism
  • Pregnancy, miscarriage or childbirth
  • Psychological disorders

 

Malaysia has several insurance companies offering a variety of travel insurance plans. Make your search easy by visiting www.smartgenie.com to compare the aforementioned companies’ travel policies.

 

Disclaimer: All information provided in this article/blog, published on this website is strictly for general information purpose only. SmartGenie does not provide any warranty about the authenticity and accuracy of such information. SmartGenie will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Please visit the websites of respective banks/financial institutions for more details about products.



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