Travel insurance is designed to provide insurance protection of people during their stay abroad. Such insurance is complex and includes a personal insurance, liability insurance and property insurance.
The main problem to be solved by travel insurance, it is monetary compensation costs of citizens to receive the necessary medical care that may be needed in the event of an accident or sudden illness. Medical travel insurance is valid only during their stay abroad.
In addition to health insurance travel insurance may provide baggage insurance, trip cancellation insurance, etc. For example, a trip cancellation insurance provides for compensation for costs associated with the abandonment of travel due to illness, accident with personal injury, refusal to issue a visa, damage or loss of documents, obtaining subpoenas or recruitment. When insuring baggage insurance event recognized the total loss of luggage, its partial damage and loss of baggage as a result of:
- Natural disasters (storms, hail, earthquakes, hurricanes, floods, etc.);
- Fire;
- Explosion;
- Lightning;
- Theft;
- Robbery;
- Deliberate damage to baggage third parties.
In some countries, the existence of such an insurance policy is a prerequisite for entry into their territories of foreign nationals.
