Romanov Report

REPORT 12 - Aug 4

Are you adequately protected? Check out products and coverage by going to www.insurancehotline.com and selecting “travel insurance” from our home page.

Travel Insurance

Most airlines provide compensation under the International Air Transport Association. There is a specific limit and there must be a “loss” to merit compensation. The specific information is provided with your ticket, but with so many “e-tickets” these days, that information is no longer as readily available, as when it was printed on your physical ticket.

The loss can be anything from lost luggage to death, but again, there are limits, usually up to $75 000.

Travel Health Insurance

This provides protection in the event of an accident for injuries sustained and covers such unforeseen costs as hospitalization, physicians, drugs and related charges. It offers several different limits, anywhere from one million to five million dollars of protection. It can cover ambulance costs, air ambulance, return of the deceased or “repatriation” with optional limits of between $5,000 and $25,000. It does not include burial. This coverage can be purchased by the trip or as an annual, renewable policy and covers all trips, under some conditions, for the policy period. The premiums are based on your age and general health and may exclude treatment for any pre-existing conditions.

Flight Accident Insurance

This coverage can be purchased at the airport terminal or travel centre and covers death, injury or loss of use (unable to use arm or leg for example). There are specific limits, which may be low and the insurance only covers that particular flight.

Common Carrier Accident Insurance

Provides accident coverage for all types of common transportation carriers, ships, train, air.

Emergency Travel Assistance

This assistance is available 24/7 and provides basic assistance to those who need it, after a travel accident. It provides such help as providing substitute airline tickets for interrupted flights, contacting relatives for injured, providing contact and assistance to the government of the injured, to obtain any services they may provide, such as replacement passports, birth certificates and driver licences.

Home Insurance

Another type of possible loss is that of your personal belongings, such as a lap top computer or clothing or luggage which may have been abandoned while exiting the plane or which can be lost in transit. Remember that there are limits here as well, so check your home insurance policy. Traditional policies either set a limit or extend a percentage of your contents coverage limits, such as 10%. Payment is also subject to your home deductible and counts as a claim against your home insurance record.