Travel insurance has been gaining popularity during the COVID-19 pandemic. You might wonder what benefits this type of insurance brings or why you need to buy it. So, let’s have a look at this below post for an overview and select the most suitable coverage for your trip.

What is travel insurance?

Travel insurance is considered a financial plan used for protection against risks and loss of money or property in your trip. In detail, insurance companies will reimburse you in those circumstances or in any medication-related issue and additional cost during the journey.

What is travel insurance?
What is travel insurance?

Should you buy travel insurance?

As mentioned above, travel insurance helps you a lot on your vacation. You will obtain different amounts of compensation and benefits based on the companies and coverage you choose. Now let’s examine the cases below and give answers to the questions above.

Cases are covered by travel insurance

In general, 5 popular cases occurring during the trip you can make a claim are:

  • Trip cancellation

If you have to suddenly change or cancel your trip, insurance companies will reimburse the prepaid for flights, accommodation or travel tickets. Yet, the coverage is valid only if your reasons for canceling are listed in the policy. For instance, natural disasters happen at your destination or you are too sick to join the trip.

  • Accidents and medical emergencies

Accidents and injuries during the journey are not rare, especially when you partake in physical challenge activities. In case of abroad travel, medical expenses can cost you an arm and a leg if you get food poisoning or face other health-related issues. An insurance package can cover those problems.

  • Loss luggage

Risks of lost luggage probably happen in both domestic and overseas travel. In this case, travel insurance with luggage coverage will pay for stolen or lost items with a respective amount of money.

  • Missed departure time

Missed flights or trains might lead to lots of troubles and cost you a great deal of money for buying other tickets. Owning missed connection travel insurance can help you receive compensation in specific circumstances listed in the policy.

  • Travel delays

Travel delays might result in missed connecting flights or planned tourism activities. In those cases, a policy with travel delay coverage can reimburse you for unused trip expenses including flight tickets and accommodation that are prepaid and nonrefundable.

You should buy travel insurance
You should buy travel insurance

You should buy travel insurance!

A detailed itinerary can lessen the possibility of unexpected events during the trip. Yet, risks are unpredictable so you should seriously consider buying travel insurance. In addition, the pandemic leads to the anxiety of exposure to the COVID-19 in the trip. Therefore, purchasing travel coverage is the right decision.

Who should buy travel insurance?

Travel insurance covers a wide range of people from 6 weeks to 85 years old depending on the companies’ policies. If you find yourself in one of the travel groups below, you might need travel coverage:

  • Broad travel

Overseas trips often bear more risks than domestic travel, including lost luggage/personal paper, and more expenses as well. So if you are an abroad traveler, it is worth thinking about suitable coverage.

  • Valuable trip

If you planned and pre-booked for your luxurious trip with an expensive resort, nonrefundable flights, and a 5-star cruise, you definitely should add travel insurance. In case you have to cancel your trip and prepaid services decline to refund, the coverage will reimburse you all those costs.

  • Challenge activities included in the trip

Physical challenge activities and cave/jungle/waterfall exploration trips are appealing to tourists all over the world, and potential for injuries as well. This type of coverage is not compulsory, however, insurance companies often recommend it because of its necessity.

Who should buy travel insurance?
Who should buy travel insurance?

Some popular types of travel insurance

There are various ways to classify travel insurance, including by region and by insured.

Travel insurance by region

  • Domestic travel insurance

This insurance package is designed for tourists traveling to destinations within the territory of Vietnam. Its cost is quite cheap but benefits are various, especially in medical and health issues.

  • Global travel insurance

This type of insurance covers trips abroad and usually offers many benefits for travelers such as lost luggage, lost personal paper, or flight issues.

Types of travel insurance
Types of travel insurance

Travel insurance by the insured

  • Individuals

It is suitable for travelers with private requests of criteria for their vacation. This coverage often provides a wide variety of benefits and compensation amounts for choosing.

  • Family/groups

This coverage is applied to a group of tourists or a family traveling together. Prices for those packages are often cheaper than ones for individuals.

  • Enterprises

This type of travel insurance is designed for business traveling purposes. The term in policies is usually by year for saving time and money.

  • Travel tours

This travel coverage is specifically designed for travel agencies, generally included in total tour expense.

Some notices for buying travel insurance

  • Not every trip needs travel insurance

This is a suggestion for you: if you plan an economically domestic trip with a limited budget and no valuable luggage, you might skip travel insurance. By contrast, in case the total cost for your trip is significant, you definitely should have one.

  • Carefully read the policies

You should spend time reading every term of your coverage contract to know exactly what is covered and what is not. Then, you can add or narrow the list as needed. Moreover, choose the insurance companies with 24/7 support service so you can contact them anytime you get into trouble.

  • Try not to overlap

If you already had life insurance or medical insurance, you might need to check that coverage’s policies to make sure you won’t pay for one benefit twice. For instance, your medical insurance possibly covers the hospital fees in case of your sickness and accident during the trip.

  • You might need to buy it soon

After planning and pre-booking every service for the journey, you should get travel insurance as soon as possible, at least coverage with a cancellation policy. In the event of irresistibly canceling, you can be reimbursed by the insurance company.

  • Don’t fall for tourist traps

Note that again, to not fall for sales tactics with additional terms, you need to read the policy carefully to identify what you want to be covered. Also, it is necessary to remove the benefits you already had.

Some notices for buying travel insurance
Some notices for buying travel insurance

Some reliable travel insurance in Vietnam

In Vietnam, many prestigious insurance companies are providing comprehensive solutions for travel, business trips, and study abroad. Some reliable ones are:

  • Bao Viet

Renowned with many coverage packages that are financially suitable for travelers, Baoviet TravelCare is your reliable companion on every trip. Global travel insurance Flexi is one of the most outstanding solutions of Baoviet, designed for individuals and customers of Saigontourist.

  • Bao Minh

Bao Minh is renowned for many insurance packages for domestic and international travel with 22 compensatory benefits, which is appropriate for applying for a worldwide Visa.

  • VNI

Vietnam National Aviation Insurance Corporation provides both domestic and global coverage for individuals and corporations. In unexpected events, VNI will reimburse you the amount of money fixed in the insurance certificate.

  • Chubb

A well-known product of Chubb and PVI is TripCARE – the comprehensive travel insurance for customers of Vietnam Airlines.

  • BIC

BIC is BIDV’s insurance company, covering all customers from 1 to 70 years old in the event of accidental death, dismemberment, medical assistance, as well as any luggage and trip issues.

  • AIG

Insurance coverage Travel Guard of AIG offers various solutions with lots of benefits and professional compensation services.

  • Liberty

Liberty company sells a great variety of insurance products. International travel insurance TravelCare is popular for its wide coverage for customers traveling individually and in groups.

As you can see, almost all insurance companies offer qualified domestic and global coverage packages. Each business gains the advantage over others on specific products, yet, all of their solutions focus on improving customers’ benefits.

Some reliable insurance companies in Vietnam
Some reliable insurance companies in Vietnam

Here is the overview of travel insurance. This post is expected to help you have a better understanding of the importance of travel coverage for your trip and get more useful information for choosing the most suitable coverage.


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