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Travel Accident Insurance
What is Travel Accident Insurance?
Travel accident insurance is a type of
limited insurance contact that provides financial coverage for
certain accidents in the event that something unfortunate happens
while an insured individual is travelling. While there are different
types of travel accident insurance available, most of them offer
coverage primarily for the very high cost results of a serious
accident in which a person looses their eye sight, a limb or their
life. Travel accident insurance is typically offered by major credit
card companies as an additional form of protection for their
customer, but other similar insurance contracts can also be obtained
by some insurance agencies.
Who Needs Travel Accident Insurance?
It is important to note that health insurance simply covers the
expenses of treating a person's injuries or illness. They do not
cover the additional costs such as loss of income and permanent
impairment or disfigurement. If serious injuries are sustained to a
person while they are travelling abroad, they may be unable to stay
in the country long enough to seek cover for damages in court.
Depending on where in the world the accident took place, there may
not even be an effective court system for seeking legal claims or a
party with the resources to pay damages. Travel accident insurance
provides coverage for the risk of the unthinkable occurring through
an accident while a person is travelling the form a lump sum of
money stipulated in the insurance contract.
What Does Travel Accident Insurance Cover?
It is important to note that travel accident insurance only covers
the expenses incurred from damage to the insured person sustained
through an accident that occurred while travelling. It is does not
cover the additional coverage of damages to property belonging to
the insured person or any other party, nor do most contracts provide
protection if injuries occur to other individuals when the insured
person is at fault. In addition to travel accident insurance, there
are other forms of travel insurance that provide coverage for other
expenses incurred while travelling. Travel protection insurance can
cover a full range of expenses from the cancellation or delay of
flights to medical evacuations, while travel medical coverage
provides health insurance if you are travelling abroad where there
are no medical providers available under your regular health
insurance. Travel accident insurance typically only covers the
expenses of very traumatic injuries and is a form of risk management
that is useful if you are travelling to a particularly dangerous
corner of the globe.
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