Travel insurance is one insurance product that specifically bears all the risks that may occur while traveling within or outside the country. These risks include delays, losses, accidents, to acts of terrorism. Usually in the process of making a visa in European countries and America, Travel Insurance is one of the mandatory requirements that must be met.
Each insurance service provider company has different provisions related to travel insurance products. A number of these provisions are listed in the policy, a written contract between the insurance company (the insurer) and the customer (the insured) that contains the transfer of risk and the applicable conditions.
There are some things that really need to be understood by customers before finally signing a travel insurance policy. The following are some of them.
1. Types of Risks Covered
The type of risk borne by may differ from one company to another. For example, in …