Travel insurance or health insurance, which one should you go for? Let’s find out.
Traveling abroad is a great experience and there’s plenty of planning that goes into preparing for it. But, his shouldn’t be limited to the clothes and shoes you’re carrying with you. A wise person once said, hope for the best and prepare for the worst.
Nobody plans to get sick but you might. You hope that your flights are on time but they may get canceled. The only way to protect yourself from such unforeseen events is with insurance.
When it comes to international travel, there are two types of insurance you should know about; travel and health insurance.
What Is Travel Insurance?
Travel insurance covers issues like losses arising from delayed or canceled flights, lost luggage, theft, loss of personal documents, etc. It also includes a certain amount for emergency medical care. Let’s say you have an accident.
The insurance may cover the emergency care required but for the rest of the treatment, you would either have to make your own arrangements or travel back to your home country once you are fit to travel.
What Is Health Insurance?
As the name suggests, health insurance covers all health-related issues such as medical checkups, treatment, emergency care, rehabilitation and treatment of issues related to pre-existing health conditions. It covers only the medical costs that may be incurred during your stay overseas.
Common Differences Between Travel And Health Insurance
- Width of coverage: While travel insurance covers losses related to logistics-related issues, health insurance covers medical costs.
- Emergency care: Both types of insurance cover emergency care. In the case of medical insurance, the entire treatment may be covered but in the case of travel insurance, the person may be covered only for emergency care until he/she is fit to travel back home.
- Preexisting health conditions: Medical insurance covers issues related to preexisting medical conditions. Travel insurance does not cover such costs. You may need to get an additional policy for the necessary cover.
Let’s look at an example
A person is traveling on a holiday and he falls sick two days before his return home because of which he has to be hospitalized and cannot catch his flight.
In this case, the insurance would cover the cost of the missed flight and bookings that will not be used anymore but it will not cover the cost of hospitalization. On the other hand, medical insurance will cover the cost of hospitalization and recovery but will not cover the cost of the lost bookings and travel arrangements.
Which One Should You Get?
Insurance is helpful in the event of a mishap but otherwise, there is no way to get the money back. Hence, many travelers hesitate about it. However, insurance is always a good idea.
There are many countries that require mandatory travel insurance. This must cover emergency medical care up to a certain amount. You should get travel insurance even for visits to countries that have not made this a mandatory requirement.
A person traveling internationally can hold both travel and health insurance. While the insurance is always advisable, the latter should also be considered if you are traveling for an extended period of time and have preexisting medical conditions.
Health insurance is also advisable if you are traveling to a destination known for high-risk adventures or communicable diseases.
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