With the winter break just around the corner, many families in Hong Kong will be heading overseas on vacation. We know that planning a family trip is never an easy feat. One minute you’re worrying if the kids have the proper clothes, then you’ll need to find the sunscreen, as well as make sure that everyone has their passports. It is already enough of a hassle without having to worry about everyone’s safety and what-ifs. No trip comes without risk, whether you are skiing in the Alps or sunning yourself by the beach in Boracay. With that in mind, here are 10 things you need to know about travel insurance and why you should get it ahead of your Christmas holiday this season.
1. Annual coverage makes more sense than single trip protection
If you travel abroad frequently, getting an annual travel insurance policy make more financial sense than a single trip plan. This also saves you the time and money from taking out a new policy each time you go overseas, as an annual plan will cover as many trips as you may take over the course of a calendar year. How convenient is that?
2. Travelling days count as “trip” days on your policy
No matter if you have a single trip policy or an annual plan, the days you travel (both in and out of Hong Kong) count as days of your trip for your coverage. This is important especially if you will be getting on a long-haul flight, since the flight itself will probably take up two days in and out. If you are on a single trip plan, that means you will need to add two extra days to your plan to be fully covered!
3. You can choose between local and international travel plans
Travel insurance products in Hong Kong are provided by either local insurers or international underwriters, giving you a wide range of options with regards to your specific travel needs. This provides a measure of control over choosing which plan you feel best meets your requirements. Generally speaking, international plans offer a higher level of protection than those produced in Hong Kong.
4. All travel insurance starts with health protection
No matter what type of policy you choose, all travel insurance will contain some degree of health insurance coverage. This is to protect you against the physical risks you might face while overseas. It’s especially valuable if you don’t have a stand-alone health insurance policy that offers protection outside of Hong Kong, making it a win-win decision.
5. Delay, curtailment, and cancellation are critical benefits
There is nothing worse than an interruption to your travel plans that boils down to sheer dumb luck. Most travel insurance plans will cover your trip against unforeseen delays, curtailments, or cancellations in your travel, reimbursing you against pre-paid and irrecoverable costs should your trip be hampered. While you may not be able to get to your destination (perhaps because of an unseasonable typhoon in the Philippines), you won’t suffer a financial penalty for circumstances that are out of your control.
6. Your bags are also covered for delays in travel
Even if you make it to your destination, there is always the risk that your bags may not. If unfortunately, you land at your destination without your luggage, the airlines may get your luggage to you eventually, but you will likely need to pay out of pocket for basic necessities to keep you going (and comfortable) on your trip until you can recover your bags—or if you can recover your bags…
The good news is that travel insurance can also cover the delays in travel of your luggage. A handy cash benefit can keep you going while your bags catch up to you on your trip. Did someone say it’s time to go shopping?
7. The things inside your bags matter too
While not having your clothes can just be an inconvenience, losing an item like your passport can derail your entire trip. This is also true for your wallet or phone; we would be so lost without our phones! Travel insurance covers your valuables against loss or theft, giving you the financial security you need to get help in a possible worst-case scenario.
8. Don’t forget about personal liability and accidents
Many travel insurance plans will include coverage for personal liability and personal accident protection. While this may not seem like a big deal, having a scooter accident in Koh Samui can come with a large number of financial risks, especially if you knock down a shop! Travel insurance takes the risk out of this situation by providing you with comprehensive coverage against damaging third-party property while you are overseas.
9. Modular policies give you complete control
While an all-inclusive vacation at Club Med may fit your needs completely, an all-inclusive travel insurance policy may not. Modular travel insurance options allow you to take out just health insurance protection, or spend extra to fully cover your trip. This way, you only pay for what is necessary for you and giving you complete control.
10. You can buy travel insurance online
If you’re at the airport and forgot to purchase your travel insurance—hey, it happens!—there is no need to worry: you can still obtain comprehensive and instant coverage online and on the spot with CCW Global Ltd. Get your policy documents delivered straight to your email while still boarding your flight on time—it’s reassuring to know that you have last-minute options out there.
CCW Global Ltd.
CCW Global Ltd. is a comprehensive insurance broker in Hong Kong, offering a wide range of personal and business insurance products to consumers in the HKSAR. If you have any questions or concerns about your travel insurance coverage, click here to ASK CCW—they’re simplifying your insurance.