Proudly Filipino 
Traveling, whether on solo or with family, sure is a lot of fun. It not only tests your packing skills but also your way of getting around.
- Will you be traveling overseas?
- Are you planning to participate in extreme sports?
- Can you afford the cost of the trip back home if an emergency arises and you need to get back?
- If you or someone who is traveling with you gets sick, will you be able to afford medical care?
By definition, an insurance product designed to cover the costs and reduce the risk associated with unexpected events during domestic or international travel. Travel insurance usually covers the insured in two main categories: costs associated with medical expenses and trip cancellations. Many online companies selling airplane tickets or travel packages allow consumers to purchase travel insurance as an added service. Some travel insurance policies may also cover damage to rented equipment, such as a rental cars, or even the cost of paying a ransom in the case of a kidnapping.
When traveling, costs associated with unexpected events can be much higher, which poses an increased risk to travelers. Travel insurance attempts to reduce these risks. For example, insurance might cover the higher-than-normal medical expenses in a foreign country, or pay for medical evacuation when necessary. Travelers should pay attention to the policy, as insurers may exclude pre-existing medical conditions. Some other events that might be covered are lost or stolen luggage and fraud. The cost of a travel insurance policy may vary by destination; trips to high-conflict zones or areas prone to bad weather could cost more.
So here are the components of a travel insurance that you should know:
1. Trip Cancellation
Trip Cancellation covers you in the event that you or your traveling companions need to cancel, interrupt or delay your trip. Policies may differ in which terms are acceptable but typically, these are the reasons that they cover:
Sudden business conflicts
> Change of mind
> Delay in processing your visa or passport
> Illness or injury
> Weather-related issues
2. Travel Medical Insurance
It provides only short-term medical coverage; the duration can be anywhere from five days to up to one year, depending on the policy.
3. Major Medical Insurance
For travelers who are planning to take longer trips of six months to one year or longer.
4. Emergency Medical Evacuation Insurance
This type of insurance provides coverage for medically necessary evacuation and transportation to medical facilities. These costs can easily reach $10,000 out of pocket if you don’t have coverage. This becomes extremely useful should you become stranded in a remote rural area without easy access to needed facilities.
5. Accidental Death and Flight Accident Insurance 
These types of insurance pay benefits to a traveler’s surviving beneficiaries, as with life insurance. Benefits are paid out in the event of an accident resulting in death or serious injury to the traveler.
Now it will be up for the tourist as to how he would purchase travel insurance. Here are three ways on how to avail of it:
1. Per-trip coverage is the most common type of travel insurance. according to the U.S. Travel Insurance Association, 80% of all travel policies purchased are per-trip policies. This policy is for travelers who don’t travel as often, and it provides protection for a single trip.
2. Multi-trip coverage provides protection for multiple trips during one year, but none of the trips can exceed 30 days.
3. The annual policy is for frequent travelers; it provides coverage for a full year.
There are a lot of options on what you can avail and most insurance companies are flexible enough for your travel needs. Safety is paramount to attaining an enjoyable vacation to your desired destination. What are you waiting for? Ask your travel agent today!
Sources: investopedia.com, investopedia.com
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