Is Travel Protection the same as Travel Insurance?

Travel Protection and Travel Insurance

Is Travel Protection the same as Travel Insurance?

Travel Protection and Travel Insurance

The direct answer to this one is ‘no’. Travel Protection and Travel Insurance are two very different concepts. They are not interchangeable. It is important to know the differences in order to decide which one you need.

Travel Insurance

Travel Insurance is a product of insurance companies. It is a policy that includes insurance for events like trip cancellation, flight delays, lost baggage, or medical expenses. Policies are generally for the purpose of decreasing the risk of financial damage. The typical Travel Insurance policy will cost you 5% to 7% of the total cost of your trip.

What is usually covered?

Most Travel Insurance policies cover injuries, sudden illnesses, and accidents. They also provide 24-hour emergency assistance. Besides, they cover damaged or stolen possessions. These will also cover cancellation fees of a booking due to sudden illness or death of a close relative. They also address emergency evacuation situations like political emergencies and natural disasters. Rental vehicle coverage is also included in most cases. Some Travel Insurance policies even cover your electronic devices.

What is usually not covered?

It is necessary that you read the fine print when purchasing a Travel Insurance. They might not cover certain things that might be important to you. For example, most Travel Insurances do not cover accidents from extreme sports. For logical reasons, they might also not cover situations that follow excessive drinking or drugging. They might also exclude accidents that occur owing to reckless behavior. It is important to note the “but” conditions such as carelessness while handling your belongings and lost items due to negligence. They might also exclude events following pre-existing medical conditions.

 

Travel Protection

Travel Protection is generally a product of travel agencies. It offers a more limited protection compared to Travel Insurance. This will come in handy in case you miss the trip. Travel Protection policies are usually much cheaper than Travel Insurance policies.

What is usually covered?

Travel Protection will typically only cover the parts of the trip you purchased through the travel agency in question. If you cancel your vacation, you will usually only be able to obtain a voucher for future travel and not cash refunds. If your trip is interrupted or delayed or if you need medical care, the remunerations will be much lower compared to Travel Insurance. This policy can be used to waive the cancellation penalty for your missed trip.

What is usually not covered?

Travel Protection will usually not cover parts of the trip that you add on to what the agency plans for you. For example, they will not cover you on an excursion that the agency did not mention in your itinerary. If you planned to fly and suddenly cancel, Travel Protection will not refund the ticket price.

As you see, Travel Protection is not the same as Travel Insurance. Travel Insurance covers a comparatively wider range of events than Travel Protection. Above are the pros and cons of each.