Why Should You Get a Holiday Cover Insurance Package?

Many people seek holiday cover insurance packages when travelling abroad, but what are these packages in the first place and why should they matter to you?

Defining Travel Insurance Packages

Travel insurance packages - more commonly known as holiday cover - are designed to protect you from a wide variety of problems you or your family may encounter while travelling. Some of the more common areas covered by these packages include medical aid, loss of baggage, theft of valuables, trip cancelation and even evacuation in cases of extreme emergency. We'll discuss these in greater detail below.

Evacuation During Emergencies

A serious illness or accident can be life-threatening if you do not have the means to seek appropriate medical attention ASAP. Military engagements or terrorist attacks can also be life-threatening if you find yourself stuck smack-dab in the middle of it all. These situations justify the need for aerial or naval evacuation contingencies and should definitely be worth considering if you plan to visit the more remote regions of the world.

Expanded Medical Insurance

The benefits of overseas medical insurance are obvious when your plan does not include international coverage. But what about the more comprehensive and all-encompassing insurance plans that provide international coverage? Holiday cover can still be of help if your deductibles are set quite high in your original package. The same can also be true if you seek to purchase primary coverage that will pay for your medical expenses until a predetermined limit is reached.

How to Start Your Online Travel Business: The Best Type of Online Travel Business for You

The industry continues to grow as entrepreneurs like you explore innovative ways to help travelers make the most of their business and leisure trips regardless of their destinations. All successful entrepreneurs began the process of determining the ideal approach to starting their companies by first determining which type of made the most sense for them to pursue.

The industry includes five types of online travel businesses:

Private Sale: This category includes flash sale, member-only, daily deal, and group-buying travel sites.

Tour/Trip Operators: "Trip" is the more accurate term as this category specializes in selling packaged trips to vacationers with no tour operations included.

Guides and Activity Providers: As the name states, this group does provide guided tours and other activity guidance during a trip.

Online Travel Agencies: Also called OTAs, this group sells everything general travelers need from lodging, air travel, and car rentals to full vacation packages.

Brokers: OTBs contract with travel suppliers such as airlines and hotels to represent their businesses and help them sell more of their travel products.

Each of these types of online travel businesses is discussed in detail in Module 1 of the Travel Business Academy's Startup and Growth Program. However, the first category-Private Sale -remains the hottest business model in this space.

Choosing The Right Holiday Cover

If you're reading up about choosing the right kind of holiday cover for your trip, congratulations! You're way ahead of those people who haven't even considered it as an integral part of their travel plans.

The truth is, even the most easy-going, go-with-the-flow kind of trip could be made better with a little planning. After all, the only kind of free-style trip that usually works is the one that's planned for you! If you're going to do only one thing, the essential step you should take is to purchase insurance for your holiday. Cover any eventuality with the different kinds of plans available - from short-term, low-cost ones, to those that may run a little more expensive but are definitely more comprehensive.

Here are a few things you need to ask yourself in order to ensure that you choose the correct travel insurance plan.

What's In Your Regular Insurance Policy?

Many people forgo travel insurance thinking that their existing health cover includes illness and accidents abroad, then find out too late it doesn't - and definitely does not provide any allowance for medical evacuation. On the other hand, there are also people who buy insurance that turns out to be redundant. For example, many homeowners' policies include property and liability coverage, even for travelling, while many credit card companies offer medical assistance and baggage loss insurance if you charge your airfare to your card. What's more, some health insurance policies include overseas medical emergencies.