What is Travel Insurance?
Travel insurance is a kind of bond between you and your insurance company wherein you pay a certain amount of money to your insurance provider in return of the financial assistance you receive from your provider. It covers all those essential aspects of a travel. You can get coverage for things like delayed flight, damage caused to your personal belongings, or if something is stolen etc.
Types of Travel Insurance in UAE
Travel insurance is very important and can protect you from complications that might arise when you are travelling. This might be anything from lost luggage to delayed flights and other complications. Almost all banks in UAE offer Travel Insurance with different features and benefits. The cover offered with each travel insurance varies from plan to plan.
Listed below are the types
- Traditional Travel Insurance Plan - This is a regular travel insurance plan that will offer cover against travel complications such as loss of luggage, delayed flights, missed departure and much more. This travel insurance comes with adequate cover at a low cost.
- Travel Family Insurance Plan - This kind of travel insurance not only offers cover for you but it also covers your family against any kind of travel emergency. This kind of travel insurance plan is best suited for individuals who travel with their family very frequently.
- Travel medical Insurance Plan - This is a unique kind of insurance plan that focuses more on medical emergencies that might occur while you are on the go. This will also protect you against the regular travel complications.
Importance of Travel Insurance
Travel insurance helps you minimize your financial risks while travelling to any parts of the world. With travel insurance plans, you can enjoy a complete peace of mind without facing any financial difficulty. Also, it provides protection against medical emergency during travel. It is the single and most important thing you should purchase before you plan any travel. Because, you can’t predict what you may come across during your travel. Even if you have health insurance, you need to opt for travel insurance. Because, unlike travel insurance most health insurance plans do not offer overseas cover.
Features & Benefits of Travel Insurance
Travel insurance comes with a host of attractive features and benefits which include:
- Provides cover for individuals, families, visa travellers and business travellers.
- Travel insurance also covers emergency medical expenses up to particular limits.
- Offers free travel advice.
- You can get travel insurance by paying low premium charges.
- Offers both single and multi –trip cover.
- Get the best cover available in market with attractive rates of premium.
- You can also get cover for lost and stolen personal baggage while travelling.
- Offers renewability. You can renew your travel insurance.
- Get worldwide coverage for loss of baggage, personal liability, flight delay etc.
- Offers discounts on annual multi- trip plans.
- Get cover for trip cancellation.
- 24/7 medical and travel emergency assistance service available.
- Provides cover for your whole family.
- Optional cover offered for adventure sports.
Types of Coverage available for Travel Insurance in UAE
Listed below are the most common types of cover offered for Travel Insurance in UAE
- Trip cancellation - Offers cover against expenses incurred from cancelled trips
- Lost baggage - This covers the loss of baggage while you are travelling
- Medical emergency - This will cover any kind of medical emergency one might face while on the move
Some of the standard exclusions under travel insurance include - risky sports, cover in one’s country of residence, theft unreported within 24 hours, war and terrorism related injury, big game hunting, base jumping, boxing, cycle racing, kite surfing, rock climbing, organized team sports etc. Sometimes travel to risky areas are may not be covered by travel insurance. However, these exclusions may vary as per different insurance providers.
How to make a claim for your Travel Insurance?
You can make your claim for travel insurance by contacting your insurance provider. Or else, you can submit your details online along with a filled claim after which your insurances provider will get in touch with you. You need to put details like policy no, membership no, phone number, and date of birth and any other information required by insurance provider.On submission of a complete application form supported by necessary documents, your claim will be settled immediately.
Buy Travel Insurance Online
Now a days, travel insurances policies are made available online by many travel insurance companies. You can purchase them by visiting their online portal and providing all required personal information. Buying travel insurance online, you can avoid all unnecessary paper works. Applying online is a hassle free process. Not only you can purchase travel insurance online, you can also renew them online.
How to choose the best Travel Insurance in UAE?
While choosing a travel insurance cover, you need to first look at certain factors like - what type of policy you want ( single or multi-trip), what kind of travel normally you do, are you a frequent traveler or an occasional traveler, how often you travel, how risky your travel is, are you going for any sports during travel etc. These are some of the aspects which you need to consider before purchasing a travel insurance policy. Once you are clear about your needs, you can proceed to purchase a travel insurance policy as per your requirements. Get quotes from different insurance providers, compare and finally choose your policy.
Top Travel Insurances providers in UAE
Mentioned below are a number of banks that offer customized travel insurance policies to best suit your travel needs. They are –
Emirates NBD provide travel insurance which include 24/7 emergency medical and travel assistance service, loss of baggage coverage, emergency medical evacuation and many more things.
Mashreq Bank offers Travel Smart Insurance help you experience a hassle free and smooth travel. The insurance policies offered by Mashreq Bank are underwritten and issued by AXA Insurance Gulf.
The second largest lender in the United Arab Emirates, National Bank of Abu Dhabi offers three different travel insurance policies to its customers. They are - Travel Smart Insurance, Travel Family Insurance and Travel Schengen.
First Gulf Bank (FGB) offers multiple travel insurance policies which offer worldwide coverage and discounts on annual multi-trip policies. If bought online, you can get discounts on these policies.
Citibank UAE offers comprehensive travel insurance to help you provide protection against hotel cancellation, hotel cancellation emergency medical conditions, delayed flights, baggage delays etc. Citibank Travel Insurance plans are underwritten and issued by AIG. You can buy this plan online.
HSBC offers travel insurance plans which provide instant protection, worldwide cover and many more benefits. You can choose among four plans. These plans are underwritten and issued by Zurich Insurance Middle East S.A.L.
Frequently Asked Questions - FAQs
What do you mean by single cover and annual multi-trip cover?
What are the benefits of purchasing an annual multi trip cover?
Why do I need travel insurances?
What are some of the exclusions under travel insurance?
Can I buy travel insurance online?
Does travel insurance provide cover for children?
Can I get worldwide coverage with travel insurance?
Will my travel insurance include my pre-existing diseases?
What are the major documents required to make a claim, if I lose my baggage at airport?
Does travel insurance provide cover for pregnant women?
Why do I need travel insurance?
What situations are covered by a travel insurance?
A single cover includes a specified/single holiday trip while an annual cover includes your multiple travel trips taken in a year without notifying the insurance provider.
An annual multi-trip cover provides coverage for a number of trips. Also, insurance providers like FGB offers discounts on annual multi-trip cover.
Travel insurance is an absolute must on the road as you never know what may happen when you travel. It provides you protection against any unforeseen circumstances like loss of luggage, delayed flight, personal accident etc. during travel.
Some of the exclusions under travel insurance include cover in one’s country of residence, theft unreported within 24 hours, - risky sports, war and terrorism related injury, big game hunting, boxing, cycle racing, base jumping, kite surfing, rock climbing, organized team sports etc. However these exclusions may vary based on different insurance providers.
Yes, you can buy travel insurance online.
Yes, travel insurance does provide cover for children.
Yes, you can get worldwide cover with travel insurance. It offers overseas coverage and you will be protected wherever you go.
No, your travel insurance policy will not cover your pre-existing diseases. But, you can purchase travel insurance despite having pre-existing diseases.
You need to submit a police report or a report from the concerned airport authority to claim your insurance.
Yes, it provides cover for pregnant women under certain terms and conditions.
A travel insurance covers you against a lot of unexpected situations that may during your travel. It could be a medical emergency, delayed or cancelled flight, stolen luggage or passport. Travel insurance covers this and much more, and offers you an anxiety-free journey.
The covers offered under a policy may differ among insurance providers. Some of the usually covered instances are given below. Contact your insurance provider for a complete list.
- Medical emergencies and related expenses
- Loss of travel documents such as passport
- Loss or theft of luggage and personal items
- Accident cover, including death and partial and full disability
- Cutting short of journey
- Missed and delayed flight departures
- Personal liabilities and legal expenses
What are the types of travel insurance available?
You could opt for a Single Trip cover or an Annual Multi-trip cover.
How are the single-trip and annual multi-trip covers different?
A Single Trip insurance policy covers one specific trip. Under the Annual Multi-trip policy, you will be insured for any number of trips you take in a year’s time. If you are a frequent traveller, the Annual Multi-trip policy would be a good choice for you. But if your travel is limited to one trip a year or less, you may want to choose the Single-trip policy for specific trips.
How many countries are covered in my travel insurance?
There are four primary areas of cover you need to select when you choose a policy. Your travel insurance will be valid in the countries that fall under the area of cover you have chosen.
- Worldwide (including United States of America, Canada and the Caribbean)
- Worldwide (excluding United States of America, Canada and the Caribbean)
- Schengen and UK (European countries under the Schengen Visa agreement, the UK and the Channel Islands)
- Gulf Cooperation Council (the Arab countries except Iraq) and Jordan
What do I have to do to claim my travel insurance?
You have to contact your insurance provider to make a claim. You may call up their emergency contact or hotline numbers. You need to know your policy number to make a claim. Carry a copy of your insurance documents when travelling. Keep a copy of the documents on your smartphone as a back-up.
If you are claiming for stolen property, you need to submit a police report or airport authority’s report. If you are claiming for medical expenses, your hospital should provide the details of the medical emergency to the insurer.
News about Travel Insurance in the UAE
Missing Out on the Benefits of Travel Insurance
According to a recent survey undertaken by the Nexus Group, an independent financial consultant, a shockingly high number of holiday-goers in the UAE neglect getting a travel insurance. Only 1% of the UAE residents are protected by travel insurance schemes. Most people think that opting for a travel policy, providing only the bare minimum coverage is protection enough.
However, financial experts warn against purchasing just any travel insurance policy as it could turn out to be a costly affair. Also, they do not provide adequate coverage, especially when travelling to countries like the USA or Canada where medical expenses can accumulate to mammoth proportions.
Experts believe that a travel insurance should provide a coverage of at least $1 million. But according to Phil Ashkuri, the Nexus Group head of general insurance, most UAE residents rely on insurance obtained as part of a package deal from banks with credit cards and membership perks. Such policies do not provide comprehensive insurance coverage. He also urges that this harmful norm needs to be tackled immediately.
21st December 2016
UAE Experts Recommend People To Travel with Insurance
The recent tragedy that befell the Emirates flight EK521 has made many UAE residents question their safety in the air giving birth to concerns that were waiting to take light. Mohammed Kamil Hussain, Outbound holidays Manager, International Travel Services (ITS) in an interview with Khaleej Times said that his company always advises people to get travel insurance, even if they are traveling to their home country since most of UAE population is made of Expats.
Some Expats, the Indians and Pakistanis being in particular are too optimistic about their luck, when it comes to travelling by air and hence think that their airlines cover would be sufficient. Infact they opt for insurance only when they are traveling to the Schengen countries in Europe under the circumstances that it compulsory for VISA.
People tend to forget that there are lot of minimal and extensive costs that can even financially bankrupt a person under emergency circumstances, when travelling. Sometimes, it could be minimal baggage misplace or theft or a tragedy such as the Emirates flight passengers had to face.
08th August 2016
Travel Insurance is not a Commonplace Product
Travel is at an all time high and does not seem likely to reduce in volume in the near future. Be it for business or pleasure, travel is a major facet of many people’s life and not all of them view travel in the same cheery way. But despite their fears and apprehensions on travel, around 50% of these UAE residents do not have travel insurance.
With summer tourism season kicking off and the Dubai airports logging in an ever increasing number of travellers month over month, the travel insurance providers are preparing themselves to face the impending surge in claims from policy holders.
Theft, injury or loss of luggage are the three major fears travellers have. Most travellers would like to have a safety net offered by travel insurance but do not know how or where to begin.
02nd July 2016