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Short-Term Insurance Cover for the Holiday Season

With the holiday season fast approaching, you may be patiently waiting for your long-awaited vacation to finally start, but have you thought about short-term insurance yet?

Short term insurance

What is Travel Insurance?

Travel insurance is a form of short-term insurance that covers all the potential risks that come with travelling, whether locally or internationally.

Unfortunately, there is a higher risk of injury, loss of property, theft and travel delays during the holiday season, which can result in massive financial loss.

However, by investing in travel insurance, you protect yourself from all these risks and the financial knocks that come with them.

Short-Term Insurance - What Does Travel Insurance Cover?

The type of cover you will be afforded will depend on the plan you select, and the degree of coverage will also be determined by your chosen plan.

However, comprehensive travel insurance plans will cover the following:

  • Trip cancellation and curtailment cover
  • Lost or stolen luggage
  • Death and disability
  • Medical emergency
  • Personal liability

Importance of Travel Insurance

Trip Cancellation and Curtailment Cover

Trip curtailment refers to the unforeseen shortening of the duration of your holiday. Cancellation and curtailment can be caused my many things, including family emergencies and unexpected changes in your flight schedule.

These unforeseen changes can incur several costs which you have not budgeted for, including additional accommodation and last-minute travelling in order to get to the airport in time for your new flight.

Your travel insurance policy may provide cover for all the costs related to trip cancellation or curtailment.

Lost or Stolen Luggage

Every traveller’s worst nightmare is baggage that has been delayed or lost. This means that you will be left to travel without the clothing that you packed for your holiday.

Your travel insurance policy will most likely allow you to go out and purchase everything you need to replace what has been lost or delayed, allowing you to continue on your adventure.

Death and Disability Cover

Many holidays involve dangerous physical activity which may result in severe injury, leading to disability or even death.

Travel insurance policies can provide the financial cover needed to get the medical attention necessary for such tragedies, as well as travel costs related to getting the injured or deceased person back home.

Medical Emergency Cover

Any person is at risk of facing a medical emergency at any point, and when you are abroad, or even in another city, you want to be sure that you are covered for medical expenses.

Travel insurance covers both in hospital and out-patient emergency medical treatment related to sudden illness or injury and includes physician services and ambulance services.

Personal Liability Cover

As accidents happen, personal liability covers you if you hurt someone or damage their property by accident.

Olemera Financial Advisors – Short-Term Insurance & Financial Planning Johannesburg

Travel insurance is one of the most beneficial short-term insurance policies that you can invest in. It ensures you are protected against potential financial shortfalls due to unforeseen circumstances.

For more information on this matter and why it’s important to purchase holiday insurance, please contact our financial advisors today.

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