Travel Insurance Protects All Travellers From Risks!

Any unexpected expenses during your travel abroad need to be preplanned well in advance. Travel insurance is indispensable when you are traveling to a foreign country, sometimes you are on your own and any unforeseen incidents such as accidents or illnesses will be borne by you wholly. With Travel insurance your medical expenses or any other unforeseen expenses will be covered.

It’s basically an agreement between a traveller and an insurance company by which an insurance company is obliged to cover all the losses that you may incur during the trip abroad. An insured person pays the premium either in single or multiple installments.

Which is the right time to get the travel insurance?

For frequent travelers there are more broad permanent travel insurances that protect you during all your trips that meet certain requirements. Such online travel insurance can be purchased directly from insurance companies but also from travel agents or travel companies.

What happens in case of pre-existing medical conditions?

Anyone with a serious pre-existing medical condition would find it tricky to attain a travel insurance. However, it’s not impossible, travel insurance companies exclude all claims related to pre-existing medical conditions. Some insurers will cover for pre-existing conditions without any additional premium. Other travel insurance companies may have a medical screening system, usually carried out over the telephone or online. You are asked a series of questions in order to assess the risk involved and to determine whether you can be given insurance, in such case you may have to pay an additional premium to cover the risk of pre-existing condition, or exclude any claims relating to risk.

What all am I covered for in such insurance?

The most common risks that are covered by travel insurance are flight delays, cancellations, limitations. Theft of luggage, delay or loss of personal possessions up to a certain amount when undeclared and up to any amount when declared and included in the policy is covered under such travel insurance. It will also cover for medical expenses whether due to illness or accident. This includes transportation to and from hospitals and clinics, physicians' fees, medications, etc.

In case of death, all funeral expenses, benefits of accidental death, will be covered by the insurance. Legal coverage such as legal fees, personal liability for accidents in case you are responsible for the accident and have to bear the injured person’s medical expense. Moreover, there are other risks for which insurance can be purchased jointly or separately from a regular travel insurance contract.

If you buy a travel package to a high risk destination, chances are that the policy will already contain those clauses, the same is applicable if you hire all the services needed to perform the high risk activities from the same agent. However, you should carefully read the policy before committing to anything and make sure that you are sufficiently protected.

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Is Homeowners Insurance Enough In The Toughest Of Times?

Homeowners Insurance is supposed to protect us in case of disasters. That is what we have come to expect from our homeowners insurance over the years. But what if the disaster is the costliest in U.S. History? What if your insurance agent's home and office were destroyed in the disaster also?

That is what happened to many customers and homeowners insurance agents and companies after Katrina hit the Gulf coast. Many agents' homes, offices and insurance Companies' claims centers were in the same situation as their clients due to the storms. So what did they do? They set up “office” in tents and mobile trailers. Then Hurricane Rita blew away these temporary offices and the agents and companies set them up again. These temporary shelters acted as a communications center for all people in the surrounding areas. Local people would come by to ask questions, meet with their claims adjustors and just catch up on the news with their neighbors. Extreme circumstances dictated unconventional responses: some agents even filed claims for their clients without even talking to the clients just so they could get the claim “in the queue.” Allstate allowed customers to submit claims through any agent in the country and set up a priority line to assist. They sent email to agents in the areas surrounding the disaster areas to act as messengers by “word of mouth” to their fellow agents in the effected areas. The larger companies such as State Farm & Allstate that service claims for the national flood Insurance Program even used satellite imagery to determine damage in some neighborhoods that were entirely flooded.

Lessons Learned: Those of us not effected by these disasters can learn a few lessons about coping with future disasters from the thousands of policyholders that are still waiting to get their claims paid. As soon as possible, take steps to prevent further damage to your home if possible: such as covering the roof with a tarp if possible. You can hire a contractor if you can find one, as that would be safer for most of us than climbing on our roofs. Hold off making any repairs until you see or talk to an adjuster first. Plus, keep your receipts, as you'll need them to prove expenses that can be re-imbursed later.

What Does Homeowners Insurance Cover?

You can generally expect your homeowners insurance to help pay for additional living expenses for up to 12-24 months while your home is being repaired. But, homeowners insurance usually pays only after they verify you have a legitimate claim. After Katrina, many insurers made an exception, automatically distributing enough to cover two weeks' worth of additional living expense to anyone in an area subject to mandatory evacuation. Some companies even gave small advances on contents under the personal property part of their homeowners insurance policies.

If you have to wait to get your check, it helps to have cash that is easily accessible in a bank account or money market fund. Stashing cash at home isn't a great idea because if your home burns down and you weren't able to get to your cash, most homeowners insurance policies only cover £100-£200 in cash whether it is stolen or burned up in a fire. Your goal should be to have an emergency fund available to take care of your family for 2-4 weeks (minimum)if possible. In a disaster it might be hard to even find a local bank to get cash. Debitcredit cards with a statewide or national bank would perhaps be better.

Your biggest problem in getting your claim handled may be in either not having the proper homeowners insurance coverage or not having enough coverage. Most good homeowners insurance policies today cover up to 120% of your dwelling coverage limit. It is important that you review the dwelling limit with your agent every couple of year's at a minimum. Homeowners insurance policies do not cover Flooding, but you should again see your agent for this coverage.

If your homeowners insurance falls short, you may qualify for money from the Federal Emergency Management Agency (FEMA) or a disaster-assistance loan from the Small Business Administration (SBA). Homeowners can borrow up to £200,000 for rebuilding and £40,000 to replace personal property at very low interest rates for up to 30 years.

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