Following is a list of various terms used in a travel insurance policy. Many of us find it difficult to understand certain travel insurance terms laid down in the travel policies. It is therefoe important for insurance holders to have a complete understanding of their policies, so they will know what the policies cover and how they will be compensated on occurrence of emergencies.
Here is a list of common travel insurance terms:
Accident:
A loss sustained through an unexpected event.
Annual MultTrip Plan:
Provides coverage for all trips made within a year.
Assistance Services:
Services provided by the 24-hour Assistance Company regarding medical matters and expenses, loss of travel documents, credit cards, luggage, etc.
Baggage and Personal Effects Coverage:
Covers a policy holder’s baggage, passport, credit cards, and personal effects.
Benefits:
The amount a beneficiary receives from the insurance provider after a claim has been filed.
Deductible:
The amount a policy holder is required to pay before the insurance provider starts making payment. It can be a yearly amount, an amount based on the duration of the policy, or amount based on incident.
Catastrophe:
Natural catastrophe causing disruption to your trip (including hurricane, fire, lightning, explosion, earthquake, storm, tempest, flood)
Co-Insurance or Co-Pay:
Refers to the amount paid by the policy holder after payment of the deductible is completed.
Common Law Partner:
Any couple (including same sex) in a common law relationship who have cohabited for at least six months
Date of Issue:
The date shown on your policy showing when it was issued / purchased
Emergency Benefits:
Provides coverage for expenses incurred when a person is transported to a place where they receive immediate medical attention.
Emergency Evacuation:
Coverage that provides medical evacuation of a policy holder to a medical facility or their own country
Exclusions:
Expenses the insurance provider will not cover, and they usually include expenses that result from participation in high-risk sports or recreational activities.
Emergency Repatriation:
Return to the UK or Ireland by air ambulance if necessary and an accompanying doctor or nurse if required.
Family Plans:
Plans that cover every member of a family who is traveling, and they usually come with discounted rates.
Hazardous Sports and Activities Coverage:
Refers to coverage of medical expenses incurred to treat a policy holder who becomes injured because of participation in hazardous sports and activities, such as: sky diving, scuba diving, or rock climbing
Insured:
The individual who is covered by the travel insurance policy.
Incidental Basis:
Participation in a hazardous activity on a casual, fortuitous, occasional or minor basis. Sports tours and/or activity holidays would be considered to include participation in hazardous activities on a non-incidental basis.
Individual Plans:
Plans that provide coverage for only one person.
Level of Cover:
The amount covered under each Section of the Policy
Lost Luggage:
Secondary coverage that is paid when a policy holder’s checked luggage is permanently lost.
Maximum Policy Coverage:
Refers to the maximum compensation that will be paid for expenses covered by a policy.
Mugging Benefit:
Inpatient hospital treatment following a violent, threatening attack by a third party causing actual bodily harm.
Non-Refundable Travel Expenses:
These are expenses paid for a trip that cannot be reimbursed, and they include accommodation deposits and airline tickets.
Personal Money:
Cash and travellers cheques
Pre-Existing Conditions:
Refers to medical conditions of policy holders that existed before the insurance policies were purchased: Usually, insurance providers will only provide minimal or no coverage for expenses related to such conditions.
Primary Coverage:
Form of coverage provides insurance for the policy holder even though you have other coverage.
Rental Car Insurance:
Covers theft or damage of a car rented by a policy holder during their trip. It also covers the damage and injury sustained by other people if the policy holder causes an accident.
Reasonable Care:
Insured must take reasonable care to prevent illness, injury, loss or damage to self or property as if uninsured.
Scheduled Airline:
Cover for sums paid in advance in event of insolvency of scheduled airline Failure provider.
Secondary Coverage:
Only offers insurance for expenses not included in the primary coverage.
Single Trip Plan:
A policy that provides coverage for only one trip
Travel Assistance Services:
Refers to assistance available to a policy holder when they experiences difficulty in a foreign location. It includes: 24-hour emergency phone services, legal assistance, visa and passport assistance, and others.
Travel Documents:
Passport, green card, travel tickets, visas, accommodation vouchers and petrol coupons which are lost or stolen.
Trip Interruption Insurance:
Provides coverage for policy holders who interrupt or cancel their trips because of acceptable reasons such as injury, illness, death of a relative, flight problem, and others.
Usual, Customary, and Reasonable Charges:
Average amounts charged by travel insurance providers for certain services, treatments, or procedures in the same locality.
Withdrawal of Services :
Facilities withdrawn by your pre-booked hotel due to strike or industrial action following purchase of insurance
Bon Voyage !
Here is a list of common travel insurance terms:
Accident:
A loss sustained through an unexpected event.
Annual MultTrip Plan:
Provides coverage for all trips made within a year.
Assistance Services:
Services provided by the 24-hour Assistance Company regarding medical matters and expenses, loss of travel documents, credit cards, luggage, etc.
Baggage and Personal Effects Coverage:
Covers a policy holder’s baggage, passport, credit cards, and personal effects.
Benefits:
The amount a beneficiary receives from the insurance provider after a claim has been filed.
Deductible:
The amount a policy holder is required to pay before the insurance provider starts making payment. It can be a yearly amount, an amount based on the duration of the policy, or amount based on incident.
Catastrophe:
Natural catastrophe causing disruption to your trip (including hurricane, fire, lightning, explosion, earthquake, storm, tempest, flood)
Co-Insurance or Co-Pay:
Refers to the amount paid by the policy holder after payment of the deductible is completed.
Common Law Partner:
Any couple (including same sex) in a common law relationship who have cohabited for at least six months
Date of Issue:
The date shown on your policy showing when it was issued / purchased
Emergency Benefits:
Provides coverage for expenses incurred when a person is transported to a place where they receive immediate medical attention.
Emergency Evacuation:
Coverage that provides medical evacuation of a policy holder to a medical facility or their own country
Exclusions:
Expenses the insurance provider will not cover, and they usually include expenses that result from participation in high-risk sports or recreational activities.
Emergency Repatriation:
Return to the UK or Ireland by air ambulance if necessary and an accompanying doctor or nurse if required.
Family Plans:
Plans that cover every member of a family who is traveling, and they usually come with discounted rates.
Hazardous Sports and Activities Coverage:
Refers to coverage of medical expenses incurred to treat a policy holder who becomes injured because of participation in hazardous sports and activities, such as: sky diving, scuba diving, or rock climbing
Insured:
The individual who is covered by the travel insurance policy.
Incidental Basis:
Participation in a hazardous activity on a casual, fortuitous, occasional or minor basis. Sports tours and/or activity holidays would be considered to include participation in hazardous activities on a non-incidental basis.
Individual Plans:
Plans that provide coverage for only one person.
Level of Cover:
The amount covered under each Section of the Policy
Lost Luggage:
Secondary coverage that is paid when a policy holder’s checked luggage is permanently lost.
Maximum Policy Coverage:
Refers to the maximum compensation that will be paid for expenses covered by a policy.
Mugging Benefit:
Inpatient hospital treatment following a violent, threatening attack by a third party causing actual bodily harm.
Non-Refundable Travel Expenses:
These are expenses paid for a trip that cannot be reimbursed, and they include accommodation deposits and airline tickets.
Personal Money:
Cash and travellers cheques
Pre-Existing Conditions:
Refers to medical conditions of policy holders that existed before the insurance policies were purchased: Usually, insurance providers will only provide minimal or no coverage for expenses related to such conditions.
Primary Coverage:
Form of coverage provides insurance for the policy holder even though you have other coverage.
Rental Car Insurance:
Covers theft or damage of a car rented by a policy holder during their trip. It also covers the damage and injury sustained by other people if the policy holder causes an accident.
Reasonable Care:
Insured must take reasonable care to prevent illness, injury, loss or damage to self or property as if uninsured.
Scheduled Airline:
Cover for sums paid in advance in event of insolvency of scheduled airline Failure provider.
Secondary Coverage:
Only offers insurance for expenses not included in the primary coverage.
Single Trip Plan:
A policy that provides coverage for only one trip
Travel Assistance Services:
Refers to assistance available to a policy holder when they experiences difficulty in a foreign location. It includes: 24-hour emergency phone services, legal assistance, visa and passport assistance, and others.
Travel Documents:
Passport, green card, travel tickets, visas, accommodation vouchers and petrol coupons which are lost or stolen.
Trip Interruption Insurance:
Provides coverage for policy holders who interrupt or cancel their trips because of acceptable reasons such as injury, illness, death of a relative, flight problem, and others.
Usual, Customary, and Reasonable Charges:
Average amounts charged by travel insurance providers for certain services, treatments, or procedures in the same locality.
Withdrawal of Services :
Facilities withdrawn by your pre-booked hotel due to strike or industrial action following purchase of insurance
Bon Voyage !
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