Travel insurance is a type of insurance that you purchase to protect yourself from unexpected events that may arise during your travel.
Travel insurance can be purchased from a number of different insurance companies, both before and after you’ve left.
There are many types of travel insurance policies available, so it’s important to understand what they offer before you buy one.
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What Is Travel Insurance?
Travel insurance is a type of insurance that you purchase to protect yourself from unexpected events that may arise during your travel. Travel insurance will help you pay for medical bills, emergency transportation home and other related expenses that may arise during your trip.
What are the types of travel insurance?
There are two types of travel insurance:
- Single Trip policy – Provides coverage for a single trip. This is ideal for people who do not plan to travel frequently and want to avoid paying an annual premium. However, you can choose to renew your policy if you plan to travel more than once a year.
- Annual Multi-Trip policy – Provides coverage for multiple trips within the same period (usually one year). This type of policy usually has lower premiums than single trip policies because it covers multiple trips instead of just one trip.
What Are The Benefits of Travel Insurance?
The benefits of travel insurance in Nigeria are many; these include:
- Coverage for emergency medical expenses abroad.
- Coverage for lost luggage, stolen belongings and delayed flights.
- Travel assistance services such as emergency medical evacuation, legal assistance and car rental.
- Some policies also provide coverage against trip cancellation and trip interruption due to unforeseen circumstances such as illness or injury during the trip.
- Cover for trip delays caused by weather-related events, strikes and political unrest in your destination country/region/city.
- Some policies also provide coverage for terrorist attacks or hijackings that occur outside of your home country if you are traveling on a common carrier (airplane, train or bus).
Cost of travel insurance in Nigeria?
The cost of travel insurance in Nigeria depends on the nature of your trip.
If you are traveling to a country that is not part of the African Union, you will need to purchase travel insurance before you go.
The cost of travel insurance in Nigeria can be as low as N10,000 and as high as N50,000 depending on the duration and nature of your trip.
The cost of travel insurance in Nigeria can range from N2,750 to N3,500 per month depending on the duration and nature of your trip. This includes all medical expenses incurred during treatment abroad or repatriation costs in case there is an accident or sickness during your trip.
Travel insurance claims
Travel insurance claims can be made to your travel insurer if you become ill, have an accident or lose your belongings while travelling.
You may be eligible for a refund on your travel insurance if:
Your trip is delayed by more than 12 hours (including check-in time) in the case of flight delays, or more than 24 hours in the case of bus or train delays.
You have to cancel your trip because the airline or bus company has gone bankrupt or been liquidated, or because services have been suspended by the government.
Your flight is cancelled due to bad weather conditions and you are unable to get another flight.
You miss a connecting flight because of an airline delay.
Your luggage is lost or damaged during transit when travelling with an airline that has gone bankrupt or has ceased trading as a result of financial difficulties (this does not apply if you had travel insurance from an insolvent company).
What to do if your claim is denied?
If your claim is denied, here’s what you need to do:
Contact the insurance company and request a review of your claim. You have a right to appeal a decision by an insurance company regarding a health, auto or home insurance claim.
If you’re not satisfied with the decision on appeal, contact an attorney who specializes in insurance law.
If you’ve been injured in an accident and need legal help, contact our office today for a free consultation.
