Are you going on vacation, but don’t know about the different types of travel insurance? Generation Voyage has the answers!
To date, there are three types of travel insurance: insurance taken out independently with an insurance company, insurance offered by a travel agency and credit card insurance. Travel insurance then comes in a range of coverage options. Let’s take a look at these options to help you make the right choice and ensure you’re fully covered during your stay abroad.
Take out travel insurance with an insurer
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In most cases, travelers contact their insurance company or compare travel insurance online to find the best coverage. This is an ideal solution, as it allows you to compare the coverage and rates on offer to find the best value for money.
Although travel insurance is not generally compulsory, it can be indispensable. It must be chosen with the greatest care. This means that its coverage must be consistent with your stay abroad. There’s no need to take out extreme sports insurance if you’re planning to visit Moscow’s museums.
Find specific travel insurances such as Chapka Assurances, Mondial Assistance (Allianz Travel), Europ Assistance or ACS, or more general insurances such as Axa.
What is the value of travel agency insurance?
Second option: take out the insurance offered by your travel agency. When you contact a travel professional, they have every right to offer you travel insurance. The question is: what kind of coverage is offered, and how much customization is possible?
As is the case with car rental companies, the basic cover offered is sometimes too low and totally unsuited to the risk and expense involved. We urge you to consult the general terms and conditions of your travel insurance policy for exact coverage, indemnity ceilings, exclusions and possible gaps. A contract that’s too tempting could conceal coverage that’s too low.
Credit card travel insurance: is it enough?
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The third best way to take out travel insurance is with a top-of-the-range bank card. At the very least, you should choose a Visa Premier or Mastercard Gold card for travel insurance. But once again, be sure to check the coverages. This time, there’s no « à la carte » insurance, as cover is stipulated in your bank card’s general terms and conditions. You don’t have the option of adapting your cover to your needs.
Consult these terms and conditions to ensure that all risks are covered. You should also check that the compensation ceilings are in line with your needs. Hospitalization in New York will not cost the same as in Bali. Repatriation from Morocco will cost less than repatriation fromAustralia or southern Argentina.
Another important point: does your credit card travel insurance cover you for the duration of your trip? What if you plan to travel around the world for a year?
The different types of travel insurance cover
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When you think of the different types of travel insurance, you also think of the different coverages you can take out. There are basic coverages and optional coverages, which are by no means superfluous. Let’s take a look at the coverages available to help you make the right choice for your trip and your needs.
Health insurance
This is the essential benefit when you take out travel insurance. It covers medical care, and compensates you in the event of hospitalization or surgery. So you don’t have to pay in advance for expenses that may be too high for your budget.
This cover also reimburses you for your medication if you need to go to the pharmacy. Depending on the nature of your cover and the limits of your insurance, you may also be reimbursed for laboratory tests.
Repatriation assistance
Travel assistance abroad is also essential. Depending on the type of insurance you have taken out, you may be eligible for medical repatriation. If your state of health warrants it, medical repatriation enables you to return to France for treatment at home.
Repatriation assistance can also be activated in the event of an early return due to the death of a loved one in France. Here again, the insurer pays for your plane ticket. On the other hand, some repatriation coverages allow one of your relatives in France to come and support you during your trip if you are hospitalized. This can include round-trip airfare as well as a package of overnight hospital stays.
Cancellation insurance
Comparing different types of travel insurance also means choosing cover that could be of use to you even before you set foot on the tarmac.
Cancellation insurance allows you to be reimbursed if you are unable to leave. Of course, it’s not just a case of wanting to give up your trip: you have to be able to justify the cancellation to the insurance company.
Cancellation insurance allows you to be reimbursed for your flight and accommodation (in hotels) in the following general cases:
- Illness or serious accident;
- Redundancy;
- Destruction of private premises for professionals;
- Internship or new job;
- Modification or cancellation of leave at the employer’s initiative.
Naturally, as with all warranties, be sure to study the risks covered and the exclusions.
Luggage insurance
This insurance is not always automatically included in travel insurance. However, it can be very useful on the other side of the world. In the event of theft or loss of luggage, this coverage enables you to be compensated and reimbursed for your lost or stolen items.
Caution: compare insurance company offers. On the one hand, you need to choose your coverage carefully, based on the reimbursement ceiling. Also, check the specific conditions. Some items will not be covered, even if they were in your luggage. Note also that cash is generally not taken into account either. It’s best to keep it with you.
Liability insurance
This coverage is often included in travel insurance. In this case, you are covered if you are responsible for a claim. This could be damage to an object or bodily injury. Of course, the claim must be completely accidental.
If you are entrusted with an object and you damage it or injure someone, the third party will be compensated by your travel insurance.
Legal protection
Another travel insurance benefit that is not always included, but could prove indispensable. Legal assistance applies if you are sued during your trip and you were not at fault intentionally. Your insurance will help you pay or advance your bail, and cover your legal fees. This assistance can also help you overcome the language barrier.
Of course, once again, be sure to compare insurance policies carefully to find suitable ceilings.
Sports insurance
Last but not least, among the various types of travel insurance and cover, let’s mention sports insurance. Practicing a sport abroad can lead to accidents. Whether you’re surfing, mountaineering or skiing, your insurance can cover you, depending on the cover you take out.
There can be many exclusions for this coverage. It’s not uncommon for extreme sports to be excluded because of the high risk of accident. Whether parachuting or any other aerial sport, if you’re looking for such an experience, make sure you’re well covered by your travel insurance.
How to compare different types of travel insurance?
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| Insurer | Contract name | Travel time | From | Offer |
|---|---|---|---|---|
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Cap Groupe | 90j maximum | 6€ | See the offer |
|
Globe Partner | Up to 12 months | 13€ | See the offer |
|
|
Cap Cancellation | All durations | 15€ | See the offer |
|
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Cap Assistance 24h/24 | Less than 90 days | 22€ | See the offer |
|
|
Cap Au Pair | From 1 to 12 months | 23€ | See the offer |
|
|
Cap Aventure | From 3 to 12 months | 36€ | See the offer |
|
|
Cap Working Holiday | From 3 to 12 months | 36€ | See the offer |
All you have to do is visit a travel insurance comparator and study the various options available to you. Then request a quote from the various insurers.
The aim is to find the best travel insurance for you and your loved ones. This coverage must correspond to your real needs, depending on the nature of your trip, its duration and your destination. It must also fit your budget.
To make an effective comparison, you need to look not only at the price, but also and above all at the cover offered and the conditions (indemnity ceilings, deductibles, exclusions and waiting periods). Some low-cost insurers offer low levels of cover, leaving you with a high out-of-pocket expense.
You’ll need to find a travel insurance policy that can take care of you financially, so that you can limit your out-of-pocket expenses while you’re there, and preserve your budget for indulgence during your stay.
Now that you’re fully aware of the different types of travel insurance, you can make your choice. So, which travel insurance should you choose?