Going overseas? Travel plan must-knows
Whether you're going overseas for a long weekend or a whole month, it's wise to purchase the best and most comprehensive travel insurance you can afford. And with so many travel insurance products on the market today it's important to be cautious about what you pick. When it comes to travel insurance, you really do get what you pay for. Beware of deals that seem on the surface to be appealing and well-priced, but that only cover you during transit and not when you're actually at your destination.
There are four types of travel insurance you should consider before taking an overseas trip.
Baggage and Personal Property is probably the first type of insurance most travelers think of when they're planning a trip. It covers the loss or theft of and damage to clothing and personal effects you've packed or bought along the way. BF&M's policy even includes personal effects that you mail back home, as long as they are include in the sum insured.
Personal Accident Insurance is insurance should you be permanently injured or killed as a result of an accident that happens during your trip. Our policy also provides a weekly disablement benefit for adults who are temporarily unable to work due to an accident.
Medical and Emergency Expenses Insurance protects you from the cost of any medical expenses that are not covered by regular medical insurance while overseas, such as if you had to get a prescription filled. Emergency expenses could include additional cost of transportation and accommodation if you, or anyone traveling with you, was injured or killed during your trip.
Many travel expenses are non-refundable, so having to unexpectedly cancel or curtail your trip could mean a lot of costs you hadn't planned for.
Cancellation and Curtailment Insurance covers expenses such as lost deposits or non-refundable fees for transportation and accommodation if your trip is cancelled or cut short due to a number of factors. Having to change flight times or dates, or an extra night in a hotel can become costly very quickly. This insurance helps protect you against such unforeseen costs.
BF&M travel insurance for students
If you're a student studying overseas, BF&M offers a Student Travel Insurance covers more than you may think. Your Student Travel Insurance covers you 365 days of the year and on unlimited trips. Student Travel Insurance covers:
- Replacement cost of personal property, including dorm and apartment furniture, and electronics
- Reimbursement of travel or accommodation expenses if a trip is cancelled or curtailed
- Compensation if involved in personal accident or for medical and emergency travel expenses for student and/or close relatives
Smart Travel Tips:
- Notify BF&M as soon as possible of any loss or any event that may give rise to a loss.
- Obtain police reports if you lose any personal property. If the police are not available, report the loss to the relevant persons and keep a copy of that report.
- Keep all receipts for any items that you have had to replace as a result of the loss of your personal property or medical condition.
- Jewelry, watches and camera equipment should be covered under a Special Risks policy due to the standard exclusions on the Travel Insurance Policy.
- Any item over $1,000 in value (e.g. designer clothing, luggage, golf clubs, laptop computer) needs to be noted separately under the Specified Articles sub-section section on Baggage and Personal Property form. Remember to include any items listed as a Specified Item in the total sum insured for Baggage and Personal Possessions Insurance.
- If you buy crystal, china or other fragile objects, make sure to pack them properly as any breakage is not covered by BF&M insurance or the airline.
- Limit the amount of cash you keep on hand. The maximum you can be reimbursed for lost or stolen cash is only $150. Credit cards and travelers cheques are the way to go.