Travel Medical Insurance is definitely the most important cover you need while traveling because medicare is very expensive, no matter where you go. Here is a recent incident where the parents of a traveler faced costs of GBP 98000 because he decided to travel without travel insurance.
Here are some of the important points you should know about Travel Medical Insurance.
- The deductible amount is what your insurer will deduct before paying you. Say you incur medical expenses of $800 and the deductible is $500; the insurer will pay you only $300, which is quite pointless. The deductible can range from $100 to over $1000 and the way it works is; the lower the premium the higher the deductible.
- The cover for travel medical is always in the millions, but most insurers set ceilings on payouts for certain elements of the medical cover, so be sure to read their policy wording.
- Check the policy wording and read what is covered. Sometimes this is written in legal double-dutch, so be sure to get clarification on points you don’t understand.
- The policy wording also lists what is not covered so be sure to check for that. Also read the general exclusions because instances like war, riots, etc are not be covered.
- Travel medicare insurances do not cover expenses incurred for, or caused by pre-existing medical conditions.
- Check if additional incidental costs like flights, accommodations, even taxis charges are covered because with a medical situation abroad these costs are more than likely. Some insurers even covers these costs for whoever is staying with you.
- Most trip medical insurance covers Emergency Evacuation, but do check the clauses.
- Most insurers will have a Medical Emergency Number, be sure to make a note of it. The last thing you want to do is have to hunt for that in a crisis.