Travel insurance coverage for natural disasters: Why you need one & what coverage it offers

Traveling is about discovering a different world that would change the perspective about life in the most unexpected ways. The number of travelers exploring foreign countries has increased significantly over the past few years. Many stories can be put into the treasure of memories and many new experiences can be attached to the treasure of life. With a number of benefits of traveling, there comes a responsibility too. Opting for a travel insurance is one of the wisest things anyone can do while planning a vacation. A lot of unforeseen circumstances can occur that can empty the pocket and insurance can cover that expenses. One of those unforeseen circumstances includes natural disasters. A well-planned, happening vacation can turn into a disappointing event if any natural calamity occurs at the destination. No one can control the Mother Nature and it may result in the loss of lives and belongings of travelers. The rise in natural calamities across the globe has prompted the need to opt for a comprehensive travel insurance that would cover the loss due to natural disasters.

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In the past few months, the world has witnessed more than 10 natural disasters. A tsunami in Indonesia on September 29th, the massive hurricane Florence in North Carolina on September 13th, and Kerala floods in August were among the enormous natural calamities. India, the U.S., China, Ethiopia, and other countries are among the top 10 countries in the world that are the most affected by natural disasters. Another country that makes to this list is Italy. Being prominent for various historic locations, the country is one of the preferred spots for vacations. According to the World Bank Group, the number of travelers increased by 4.5% in 2015 as compared to the previous year. The significant rise in a number of foreign travelers has unlocked a lot of potential for the development of the travel insurance industry. According to the research firm Allied Market Research, the Italy travel insurance market is expected to reach $590 million by 2023. Planning an international trip involves risks and uncertainties. The effects of climate change have fallen hard upon the country and made the country more prone to natural disasters. Opting for an extensive travel insurance while traveling to Italy becomes essential.

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Among those uncertainties include delays or cancelation of trips due to natural disasters. However, the natural calamities are beyond the control of travelers but taking necessary precaution to curb the losses is in control. Opting the right travel insurance is necessary and following are some of the natural disaster coverages covered:

Canceling the trip:
A natural disaster can occur at any point of time. There is a high degree of unpredictability involved. If it occurs in the destination country before beginning the trip, travelers are more prone to cancel the trip. If the trip is canceled due to the destination country suffers a natural disaster, insurers provide a sufficient cover to the insurance holder. A certain amount is reimbursed after the deductibles.

Evacuations during a non-medical emergency:
Evacuation services are rendered to the policyholders if local authorities or the government issue a formal recommendation to leave the country as soon as possible due to a natural disaster.

Delays in trips or missed flights:
As natural disasters are unforeseen, the consequences of those disasters are unforeseen. The consequences can disrupt the daily life of the destination along with affecting the modes of transportation. From railways, trams to flights, there can be a disruption in various modes of transportation. If a traveler misses a flight or there is an unexpected delay due to natural disaster causing cancellation of flights or putting a curb on air traffic, the insurer will offer reimbursements for unexpected expenses and additional costs required to reach the home.

Emergency cash:
In the case of natural disasters, there may be a requirement of immediate cash to continue the trip and paying for important expenses such as accommodation, meal, and transportation during the elongated stay in the destination. Travelers need to ensure how they can receive the cash before buying the policy.

Unexpected trip extension:
The natural disaster may cause extension of the trip to ensure the safety of people and cause them to leave the country after a certain period of time. The insurer offers a medical cover to policyholders if the trip extends beyond the date of coverage due to a natural disaster.
Permanent disability & death benefits:
If a traveler suffers from a serious injury or dies due to natural disaster occurred at the destination, the benefits are offered to recover the losses. The financial benefits are offered to the beneficiaries of policyholders in case of death or the amount incurred to treat the traveler is paid to the medical facility.

Emergency medical evacuation:
If a traveler is injured seriously during the trip and needs a better medical treatment, the insurer will ensure the traveler is moved to the better facility where the better treatment option is available. This is the reason a proper insurance should be in place.

Mortal remains back to home:
If a traveler dies during the trip due to the natural disaster, the insurer will take necessary measures to bring the mortal remains back to home.
Dealing with natural disasters is a huge challenge in itself. If a traveler faces this situation during the trip, the stakes get higher. An assurance that the insurance company will help them to reach safely to the destination place enables them to travel without any worries. Buying the comprehensive travel insurance that offers coverage for natural disasters is necessary. A traveler needs to ensure the right insurance policy is purchased and it should cover all the aspects involved with traveling including mishaps, luggage losses, and others. Moreover, the travel insurance companies and agents should give an overall information about the packages and coverages. Explore various options before finalizing the policy. Search online and compare quotes from different companies and purchase the best policy that fulfills particular needs and requirements.

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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