Understanding Different Types of Travel Insurance

Over recent decades, the way we travel has been significantly transformed and taken on a new shape and purpose. In the old days, tourists tended to visit places to "tick off the list", whereas today, the modern traveller is often more goal-oriented – looking to take part in specific leisure activities or follow an adventure themed itinerary. Because there are no so many options, travel insurance for family holidays has also evolved and spawned more streamlined cover. While this is obviously beneficial for travellers to get the most out of their insurance cover, it's important to understand the different types of options and why they exist in the first place.

Last-minute Cancellation

Cancelling your trip at the last minute without an "acceptable" reason can be a huge financial setback for travellers. Perhaps an emergency necessitates a change in plans, or there is simply a schedule conflict; either way, it costs a lot to rebook flights, especially for family bookings. This is why when leading providers started offering cover for cancellation in their travel insurance for family holidays, it made a lot of travellers happy. Most providers will guarantee a refund of 75% of your travel cost, no questions asked. And while 75% still means you will have wasted 25% of your money, it's still better than wasting 100% of your money.

Damages from Specific Travel Plans

If you are travelling to another city to play golf or go surfing and, as luck would have it, you damaged or lost some of your sporting equipment, if you're uninsured this poses a problem - especially for those on a budget. Until recently, you would have had to worry about those additional expenses yourself, but fortunately some companies now offer customized travel insurance for family to cover this. So if a provider offers golf coverage, aside from damage to equipment, a policy like this can also cover previously non-refundable green fees due to inclement weather. Every little helps.

Cancellations Due to Natural Disasters

For a provider to specify cover for a natural disaster will depend on the country or region's overall climate. However, unfortunate things do occasionally happen and while you may have paid for travel insurance for family holidays that covers hurricanes, if your flight is cancelled because of a tsunami you may not be covered. This fine print and technicalities can be difficult to deal with, but luckily there are excellent providers who offer a more comprehensive package. These are especially beneficial for those travelling to more exotic places in which unpredictable weather conditions are likely occur. There are also some providers who offer full reimbursements for your travel costs if there is a natural disaster in your travel destination. The key is – read the fine print of your policy and know what you are buying before you buy it.

Patrick Chong is the Managing Director of Insuremore. We provide low cost travel insurance for family groups as well as annual, multi-trip and single-trip insurance. For all your travel cover needs, Insuremore can help you in the quickest and most cost-efficient way.

Writer and Online Marketing Manager in London.