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Types of Travel Insurance

Administrator — Mon, 10 May 2010 06:53:41 +0000

There are two major types of travel insurance:

International travel insurance – covers travel outside your country of residence. Trips abroad should include this because your normal healthcare arrangements does not apply in other countries and in case of medical emergencies you either need insurance or you have to pay all medical bills out of pocket.
Domestic travel insurance – covers travel within your country of residence. These are generally cheaper than international policies because they usually don’t include medical coverage. Theyâ€™re focused on coverage of purely travel-related problems like cancellations and closures. You can consider their worth and buy them on a trip-by-trip basis.

What is an Insurance Underwriter?

Administrator — Thu, 10 Sep 2009 02:51:34 +0000

In order to calculate the risk of loss and establish premium rates, insurance companies have underwriters that do this for them. The underwriter assesses the application of a person whether it would be beneficial for the insurer to issue the policy and at what cost. The work of an underwriter can be very difficult because he cannot be too conservative or too liberal in deliberating insurance coverage.

Computers help underwriters to analyze submitted information from applications of policy buyers. Underwriters are the link between the insurance agent and the provider to help agents sell the correct coverage to clients. Technology plays a big role in the work of an underwriter because it helps him to evaluate insurance applications based on a company set of rules.

Frequently Asked Questions

Administrator — Fri, 10 Jul 2009 02:49:14 +0000

There are many insurance companies providing travel insurance coverage that usually have the same underwriter. Different insurance companies also provide different services and premium payments. All these information can be confusing to many travel insurance buyers. Here are some of the frequently asked questions especially for first time travelers and travel insurance buyers:
1.Who is the provider of my insurance coverage? – This can be a different company from the one that actually sold you the policy.
2.Who do I contact in case of emergency? – Most insurance companies give information cards so you know what numbers to call.
3.What happens if I lose my policy card? – The insurance coverage does not lapse but you do have to provide proof of coverage like receipt or identification number.
4.Am I covered outside my country of purchase? – This would depend on the policy you purchased.
5.Are pre-existing conditions covered? – Again this would depend on your policy. Some companies require additional payments for coverage of pre-existing conditions.
6.How quickly are claims paid? – Usually when all supporting documents are completed and proof of loss has been established, the provider will issue payment.