May 10

Travel insurance: how it works and how important it is

Travel insurance can prove to be a very useful tool for those who intend to leave in total safety. These are insurance policies that protect users from possible unforeseen events that occur during the trip. In this article we will try to understand what travel insurance specifically is, what it covers, to whom it is recommended and what the costs are.

Travel insurance: what it is and why it is important

Travel insurance is nothing more than an indemnity contract for all eventual damages or unforeseen events which can be encountered during a trip of any kind. It is a security measure that allows you to enjoy your stay to the fullest without any worries. The policy is therefore important because, against a relatively low subscription cost, the risk of incurring additional costs to resolve any accidents or unforeseen events of any kind is minimized.

How travel insurance works

At this point, let's try to understand how travel insurance works specifically, first of all trying to distinguish between the various types of existing policies and the different coverages. We have for example the travel cancellation insurance, which only serves to compensate the user for the cost of the trip in the event of unforeseen events such as illness, injury, dismissal or theft of documents.

Another type is the lost baggage policy, very useful for anyone carrying valuables — or anyone who simply doesn't want to spoil one vacation following the loss of a suitcase. One of the most widely subscribed covers is that relating to the possibility of receiving compensation in the event of a flight delay of more than 8 hours.

Then there are the policies for medical expenses, which usually cover emergency care, emergency ambulance transport and in general all assistance lines in case of need. Generally, there are no policies capable of covering any unforeseen events caused by government decisions by states. Specifically, a distinction must be made between the case in which the Farnesina advises against travel to a specific destination declared unsafe before signing and the case in which the insurance is taken after the government declaration. Only in the latter case is the policy to be considered valid. In addition, foreseeable events, such as a health problem pre-existing at the time of stipulation of the policy, are also generally not covered.

The costs of travel insurance

As for the insurance costs, as we have already mentioned above, these vary based on a number of factors. In particular, they depend on the following elements:

  • activated covers:
  • number of policyholders;
  • number of trips.

Generally speaking, the cost of one single travel insurance for a week in Europe it can be around 10 euros. The cost obviously increases in the case of an all-inclusive policy and based on a specific destination. For example, insurance for a week in the United States for a 30-year-old adult can go up to 60 euros. However, even in the latter case, the advantage of taking out a travel insurance is obvious. In fact, in the event of accidents or unforeseen events, you risk spending much more money than you need for insurance.

How to choose your travel insurance

The choice of insurance obviously varies according to your personal needs. In particular, it is important to know before subscribing whether or not you intend to make other departures during the year, in order to understand whether to purchase a annual policy or less. In addition, those who are students can also access a series of offers offered by some companies dedicated specifically to the youngest who undertake study holidays or internships abroad.

In any case, it is very important to evaluate carefully the ceiling, i.e. the maximum amount paid by the company in case of need, and the exclusion clauses, especially for older people or people with chronic diseases.