December 10, 2022
How To Get Travel Insurance

How To Get Travel Insurance

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How to get travel insurance? Humans are social creatures and travel is one of the most important parts of our social interaction. Whether you are traveling for business or pleasure, what makes it an enjoyable journey is a certainty, especially when you are leaving your home country for a long period. So, how to get travel insurance?

How to get travel insurance to travel from Nigeria to any part of the world? From an insurance company in Nigeria, e.g. Leadway, Cornerstone, AXA Mansard, or any of the other major insurance companies you’ve probably heard of…OR through an insurance broker (these are companies with specialized industry knowledge and partnerships with multiple insurance companies that help manage the business relationship between insurance companies and you, the policyholder)

But if you’re reading this, I don’t think you’re looking for an answer as simple as the one above; That is why we have taken the time to write this article to provide all the information you need as a Nigerian traveler looking to protect yourself while traveling

Not only are we going to tell you where to get it, no. In the end, you would have learned what travel insurance is and what types of travel insurance are available in Nigeria. Why do you need travel insurance in the first place, what are the average costs and benefits of travel insurance, and any other relevant information do you need to decide whether to invest in it while traveling around the world?

Table of Contents

TRAVEL INSURANCE IN NIGERIA

Simply put, travel insurance, or travel medical insurance as some insurance companies like to call it, is a type of insurance policy that protects you against various types of risks and losses (from lost luggage and damage to illness and death) during your travels. This gives you a contingency plan that covers all costs in case something goes wrong abroad.

Travel insurance is normally taken out in your country of residence and by insurance policies in that country. In other words, Nigeria travel insurance is a product for Nigerian residents and non-residents who are traveling from Nigeria to another country for some time

Different types of travel insurance in the USA

When purchasing a policy, you will find a wide range of travel insurance policies. Typically, travel insurance is sold as a package, also known as a comprehensive plan, that includes a variety of coverages. Some insurers and comparison sites allow you to customize a policy by choosing coverage a la carte. For example, TravelInsurance.com is a comparison site that offers different providers.

Here are seven of the most common types of travel insurance coverage in the USA:

1. Travel Medical Insurance

These plans provide health insurance while you are away from home. While these policies work in some ways like traditional medical insurance, you generally can’t use travel insurance for routine medical events. For example, a routine medical examination is usually not reimbursed. In addition, these policies often include coverage limitations and exclusions for pre-existing medical conditions.

While most travel insurance policies cover many recreational activities like skiing and horseback riding, they often exclude adventure sports like skydiving or parasailing or competing in organized sporting events. You may need to complete a specific travel policy for adventure or competitive sports.

Most likely, your US-based health insurance won’t work if you’re traveling internationally, and Medicare doesn’t provide coverage once you leave the United States, with some very specific exceptions. If you are planning to travel abroad, it can be very useful to take out travel health insurance.

2. Cancellation, Interruption, and Delay of Travel

Trip cancellation insurance reimburses you for prepaid non-refundable costs if the tour operator goes bankrupt or if you have to cancel the trip for one of the covered reasons stated in the policy, such as:

  • Your disease.
  • The illness or death of a family member who is not traveling with you.
  • Natural disasters.

Trip Interruption Insurance covers the non-refundable cost of the unused portion of the trip if it is interrupted for a reason stated in the policy.

Travel delay insurance reimburses you for expenses such as room and board if you are delayed during a trip (e.g. if your flight is canceled due to the weather).

Many package policies cover all three. That policy differs from the cancellation waivers offered by cruise lines and tour operators, the Insurance Information Institute says. Waivers are inexpensive, ranging from $40 to $60, and often include restrictions. For example, according to the institute, waivers are not allowed to refund your money if you cancel immediately before departure. Waivers are not technically insurance policies.

Some companies offer additional layers of coverage for an additional fee. Cancellation for any reason insurance reimburses a large part of the travel costs, regardless of the reason for your cancellation. And some companies charge you extra to cover pre-existing conditions if you cancel for medical reasons.

3. Baggage and Personal Items

This coverage reimburses luggage and personal effects that are lost, stolen, or damaged during travel. Some plans will also reimburse you for additional costs if you stay longer than a certain period, e.g.12 hours, and be confronted with a baggage delay.

Your rental or home insurance may cover personal items while traveling. It’s best to check your homeowner’s insurance policy to determine the amount of coverage so you don’t pay for benefits you already have.

4. Emergency medical assistance, evacuation, and repatriation

This coverage reimburses medical expenses if you become ill or injured while traveling. Medical evacuation insurance pays to transport you to the nearest hospital and medical repatriation pays to fly you to your home country.

5. 24-hour assistance

This service is included in many package plans. The insurer offers a 24-hour hotline that you can call if you need assistance, e.g. when booking a flight after a missed connection, searching for lost luggage, or finding a doctor or lawyer.

Most travel insurers cover a wide range of benefits, but specific options vary. Some plans include concierge services, assistance with restaurant recommendations, tee time reservations, and more. Many services also provide travel information, such as required vaccinations. The only way to know what’s included is to read the policy.

6. Accidental Death and Dismemberment Insurance

This insurance coverage pays your beneficiary, e.g. a family member, a lump sum if you die during your trip as a result of an accident. Accidental death and dismemberment insurance also pay you part of the amount if you lose a hand, foot, limb, sight, speech, or hearing. Some plans apply only to accidental death on an airplane.

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Tip: This coverage can be doubled if you already have adequate life insurance that pays out in the event of death from an accident or illness. You may also already have accidental death and casualty insurance, so it’s best to check your policies to make sure you’re not overpaying.

7. Rental Car Coverage

This pays for the repair of your rental car if it has been damaged by a wreck, vandalism, or a natural disaster. Coverage does not include liability insurance that pays for damage to other vehicles or medical treatment for others if you cause an accident and are held responsible for it.

Ask your car insurance company if your policy will cover you if you rent a car while traveling. US auto insurance generally doesn’t cover you if you drive in countries other than Canada.

Auto insurance requirements are complex as they vary from country to country. As a rule, you can take out liability insurance with the car rental company.

TYPES OF TRAVEL INSURANCE IN NIGERIA

Depending on your travel destination, travel insurance policies are classified into three types by insurance providers. Let’s take a quick look at the three different types and help you determine which one is best for you

LOCAL TRAVEL INSURANCE

As the name suggests, this is a policy that covers one traveler on any trip within Nigeria’s (local) borders. Whether you’re traveling on the road with Godisgood Motors and lose a suitcase, or your flight is unnecessarily delayed with Air Peace, or even on the newly built Abuja to Kaduna train tracks, this product will have you covered and reimbursed.

Although local travel insurance is a relatively new entrant to the market and is not offered by all insurance providers, it is still available from some providers. (Talk to your agent to help you find them)

TRAVEL INSURANCE – NIGERIA TO EUROPEAN COUNTRIES/COUNTRIES COVERED BY YOUR SCHENGEN VISA

If you are traveling from Nigeria to any of the countries in Europe that are within the established Schengen visa protections, this is probably the product you are looking for. It is popularly referred to as Schengen travel insurance. This is an older product with the greatest popularity on the market and due to all the international parties involved (the European Union and its supporters), it is more standardized in terms of benefits to you. It is also readily available.

TRAVEL INSURANCE – NIGERIA TO THE REST OF THE WORLD

If you are not traveling locally or to a Schengen/European country, global travel insurance is probably best for you; This means you are covered for travel from Nigeria to the USA, Australia, the Middle East, China, and any other region outside of Europe. However, unlike Schengen travel insurance, this product is not standardized as there is no central body that defines what the performance benchmarks should look like. This means that your power limit differs depending on the destination country. This is better explained in the next section

WHAT ARE THE BENEFITS OF TRAVEL INSURANCE IN NIGERIA AND WHY NOT TRAVEL WITHOUT IT?

Peace of mind thanks to the right travel insurance

Now that you understand what the policy is and what types are available, let’s talk about what your travel insurance protects you against and why you need it. In general, travel insurance coverage has three categories of benefits. They are as follows:

Benefits Of Travel Medical Insurance

  • Medical Expenses: When we travel abroad we never intend to get sick, but the reality is that sometimes we do, and sometimes the illness is little more than a common cold. In this case, your travel insurance is there for you. But medical expense coverage is pretty broad, so we’ve unpacked it so you can get the full picture as follows:
  • Hospitalization abroad: If you get sick and your illness requires hospitalization abroad, your policy will pay for it (up to €30,000 for a Schengen policy and between $10,000 and $40,000 for a worldwide policy, depending on the destination country).
  • Emergency Medical Evacuation: This means that if the treatment you need is not available in the country you are in, you can be evacuated to the nearest location with treatment available (up to €30,000 for a Schengen policy and between $10,000 to $40,000 for a worldwide policy). guidelines depending on destination country)
  • Repatriation of a family member: This covers the cost of repatriating a family member to the country where you are being treated to come to you (up to €2000).
  • Dental emergency care: If you have dental problems, you can also have them solved (up to €1,000)
  • Emergency return after the loss of a close relative: If you lose a loved one abroad and have to return home, your policy will also pay for it (up to €2,000)
  • Repatriation of mortal remains: In the event of death and if a body needs to be returned home for burial, your travel insurance will cover this too (up to €5000)
  • Lost baggage and delays: If your airline or cruise ship loses your baggage during your trip, your travel insurance will cover both the cost and hassle of locating the lost baggage and forwarding it to you, wherever it is found
  • Cancellation or reduction: If you miss or have to cancel your already booked trip due to unforeseen circumstances, your policy will reimburse the cost of your flight ticket and all reservations made up to €1000 )

However, it is worth noting that as a token of your responsibility, you should assume a fraction of the cost of any losses incurred. This cost is usually referred to as a deductible and typically does not exceed €100.

Okay, the benefits are now clear, but you might be surprised to know that everything you’ve read so far in this section (risk and loss protection) is the second reason why you should consider travel insurance.

Required by law in some countries

The main reason is that it is required of you by law.

Most of the countries we visit as Nigerians either have a social program that covers the healthcare needs of their citizens or a robust health insurance framework that ensures everyone has access to healthcare. As a foreigner in a country, you are not subject to the system that the government of that country has put in place for its people. You should therefore take out travel insurance to ensure that you have sufficient medical and other medical care if necessary. In Europe in particular, there have been several instances where Nigerian travelers have been refused visas at the point of entry and this is why you should not travel without proper travel insurance

What does travel insurance cover?

Depending on the type of coverage you are looking for, the table below will help you determine what to look for when choosing a policy:

If you want:Include this in your travel insurance policy:
Payment of medical expenses if you get sick or injured on a trip and need emergency care that’s not covered by your regular health insurance plan.Travel medical plan
To be taken to the nearest hospital or flown home if necessary when you’re injured or you get sick on a trip.Emergency evacuation and repatriation
Reimbursement of nonrefundable reservations if you get sick and have to cancel or end a trip early; reimbursement if you incur extra costs (e.g., lodging) due to a delay by the airline or other carrier.Trip cancellation, interruption and delay
Reimbursement of nonrefundable reservations no matter why you cancel a trip.“Cancel for any reason” coverage
Payment for lost, stolen or damaged baggage.Baggage and personal belongings
Help finding a lawyer abroad.24-hour assistance services
Payment for rental car damage.Car rental collision insurance

Depending on the policy, travel insurance will reimburse you or provide services if something goes wrong. Even in the worst case, if you die in an accident while traveling, there is insurance coverage. In this case, Accidental Death Cover pays a lump sum to your beneficiary.

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Before you buy, take a moment to familiarize yourself with the different types of travel insurance products, how they are calculated, and what they cover and exclude. If you’re traveling during these uncertain times, make sure your chosen policy covers emergencies related to the coronavirus. The more thorough the coverage, the more it usually costs.

What affects the cost of travel insurance?

According to SquareMouth, for the 12 months ended April 2021, a comprehensive travel insurance plan averaged 5.9% (domestic travel) and 6.6% (international travel) of the cost of a trip. In general, the price depends on:

  • Duration and costs of the trip: The longer and more expensive the trip, the higher the policy costs.
  • Local Healthcare Costs: High healthcare costs at your destination can drive up the price of travel insurance.
  • Medical conditions you want to cover: Medical conditions you already have to add to the cost of travel insurance.
  • Amount and scope of coverage: The more risks a policy covers, the more it costs.
  • Your age: the older you are, the higher the price.
  • Any optional addendum you add to your policy: cancel for any reason, suspend for any reason, and more.

Keep these factors in mind when considering different travel insurance policies.

How To Get Travel Insurance?

If you’re considering travel insurance for an upcoming trip, you’ll be glad to know that some parts of your trip may already be covered. For example, if you book a trip with your credit card, you may already receive trip cancellation and trip interruption insurance, depending on the card used.

So when deciding what level of coverage you need, check what you already get with your credit card. Then decide which supplementary insurance you want. Normally, travel health insurance is not included with your credit card. So if you’re looking for more comprehensive coverage, it’s a good idea to get general travel insurance.

Below we list four ways to get travel insurance, along with the pros and cons of each option.

Credit Cards

Some credit cards offer cancellation and car rental insurance when you book the trip or car with the card.

  • Pros: Coverage is free.
  • Cons: You cannot customize the insurance to suit your needs. Most credit cards offer secondary rental car insurance that covers costs not covered by your regular car insurance policy.

Travel Agencies And Travel Booking Sites

You can take out travel insurance when you book your flight, hotel, and car rental.

  • Pros: Purchasing is as quick and easy as clicking “Yes” when booking reservations. The cover is cheap.
  • Cons: You can’t adjust the opacity.

Travel Insurance Company

You can take out travel insurance directly with an insurer.

  • Advantages: You can choose a policy that suits you. Many travel insurance websites also provide information to help you understand coverage.
  • Cons: You have to go to multiple websites to compare coverage and prices.

Travel insurance comparison Sites

You can compare different policies and view offers at the same time based on the travel search criteria you entered in the search form.

  • Pros: You can choose a policy that suits your needs and compare policies and prices in one place.
  • Disadvantages: Comparing multiple policies takes time.

Buy The Best Travel Insurance For You

Comparing travel insurance from different providers is your best bet to find a policy that suits your needs at the price you want. We’ve compiled a list of travel insurance providers and comparison sites to help you find the best deal.

Travel insurance comparison portals

If you don’t know which provider to choose, it makes sense to browse a list of plans on a comparison site. These websites often feature plans from the best travel insurance companies, as well as customer reviews. Below we have listed five popular insurance comparison sites:

Square mouth

  • Compare rates from over 30 providers.
  • More than 86,000 customer reviews of insurers.
  • Under the Zero Complaints Guarantee, SquareMouth (a NerdWallet partner) will remove a vendor if a customer complaint is not satisfactorily resolved.
  • Has a filter option to show policies that offer COVID coverage.

Reiseversicherung.com

  • Compare rates from 13 providers.
  • See good and bad customer reviews and ratings for each insurer when you get offers.
  • “Learning Center” contains articles on travel insurance and travel tips, including important practical information.
  • The offers provided by each provider include a link to COVID-19 FAQs so customers can easily assess what is covered and what is not.

Insure my trip

  • Compare tariffs from more than two dozen providers.
  • More than 70,000 customer reviews.
  • Anytime Advocates help clients navigate the claim process and work on behalf of the client to appeal a denied claim.
  • Includes a link to plans that offer COVID coverage.

Insubuy

  • Compare plans from 11 providers.
  • Find out about sports activities including ground, air, and water sports.
  • Many types of plans are available for students, relatives, new immigrants, people seeking COVID quarantine coverage, and more.

NatureY

  • Compare different insurance policies from 35 providers.
  • Over 5,600 customer reviews on Trustpilot with an average of 4.9 stars out of five.
  • Formerly known as AardvarkCompare, AARDY has a Travel Insurance 101 Learning Center to help customers understand various policies and benefits.
  • Quote, On the search results page, the COVID coverage is highlighted in a different color to help customers see the relevant limits.

Top travel insurance companies and reviews in the USA

If you already have an insurer in mind or just want to learn more about some of the best travel insurance companies, check out our top 10 list below. Whether you’re looking for international travel insurance, emergency medical care, COVID coverage, or a policy that includes extreme sports, these providers have you covered.

Allianz Global Assistance

  • Annual and individual travel plans.
  • Plans are available for international and domestic travel.
  • A standalone rental car damage product is available.

Travel protection from AIG

  • Four levels of comprehensive plans and one buildable, customizable plan.
  • Aircraft accident insurance, medical evacuation plan, and annual plans are available.
  • Business plan available.

USI Affinity travel insurance benefits

  • Search comprehensive subscription types by policy name, insurance requirement, and travel type.
  • Medical and evacuation plans for international travel.
  • An annual plan with two coverage levels to choose from.

International insured travel

  • Comprehensive and only medical plans.
  • Flight plans include coverage for missed and canceled flights and lost or stolen luggage.

World Nomads

  • Comprehensive international travel insurance plans.
  • Insurance coverage is available for adventure activities such as hiking, mountain biking, and diving.
  • Cover for cameras, laptops, and phones.

Berkshire Hathaway Travel Protection

  • Three comprehensive plans offer cancellation, emergency medical care, and emergency travel assistance.
  • Two of the plans offer compensation for missed connections and higher barriers for lost luggage.
  • Coverage can be customized with add-ons such as adventure sports coverage, rental car collision coverage, and more.

Travelex Insurance Benefits

  • Two comprehensive plans are available.
  • The coverage can be customized.
  • Two flight insurance plans are available.

Seven Corners

  • Comprehensive plans for US citizens and foreigners, including visitors and immigrants, traveling to the US
  • Annual, sick leave, and student plans are available.
  • “Dogtag” extreme sports plan that comes with a wearable metal insurance ID tag.

IMG

  • Special health insurance for ship captains and crew, international students, and missionaries.
  • Adventure Travel Insurance.
  • Travel cancellation plans.
  • The search results page shows whether plans offer COVID coverage.

AXA Assistance United States

  • Three comprehensive plans are available.
  • Optional insurance benefits can be added to each plan such as B. “Cancellation for Any Reason” and Rental Car Damage Coverage.

List of Travel Insurance Companies in Nigeria

Some of the best travel insurance companies in Nigeria include:

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1. AIICO Travel Insurance

AIICO Insurance offers a travel insurance plan in partnership with AIG South Africa. The plan includes the following:

  • Medical Emergencies Costs
  • Repatriation for medical reasons
  • evacuation
  • Final repatriation of the remains (corpse)
  • Additionally, this travel insurance plan is designed for businesses, individuals, and HNIs.

2. AXA Mansard Travel Insurance

AXA Mansard Insurance for Travel is designed to cover the risks associated with travel. They offer coverage for:

  • Property loss
  • Flight delay
  • Medical costs in the event of illness or accident
  • Finally, emergency medical evacuation

3. LeadWay Travel Insurance

LEADWAY is a travel insurance company that provides coverage for medical, financial, and other losses incurred when traveling outside of your country of residence. Your plan covers all leisure and business travelers in the event of an accident, illness, or lost luggage.

4. Mutual Travel Insurance

Mutual Benefit Insurance also has a travel insurance plan that covers accidental death, medical expenses, and repatriation costs of individuals during international travel.

Narrow down your choices, then read the fine print of the policy to understand what’s covered, what’s excluded, and the limits of coverage. You may find that the cheapest policy is too restrictive and paying a little more will give you the coverage you need. Or you may find that the cheapest, most basic policy fits the bill.

4 Tips For Taking Out Travel Insurance

  1. Keep these four important tips in mind when considering travel insurance.
  2. Assess the financial risks you face when traveling. Can you bear these costs yourself or do you want to insure yourself?
  3. See what coverage you already have: Does your credit card offer travel insurance? Do you have household contents or contents insurance? What is the deductible? Does your health insurance cover you everywhere you travel?
  4. Request travel insurance quotes online. Choose a package with the benefits you need and compare prices for comparable coverage between airlines.

TRAVEL INSURANCE CLAIMS

Travel insurance claims are requests to the insurer when you have experienced a situation or suffered damage that is covered by your travel insurance. For example, if your flight was unnecessarily delayed, your luggage was damaged/stolen in transit or you became ill while traveling outside of Nigeria. In any of these circumstances (as in many others) you have the right to file a claim to be fairly compensated/reimbursed for any costs incurred as a result of the above situation.

Due to the international nature of travel insurance, most travel insurance providers in Nigeria have partnerships with insurance providers overseas, so wherever you travel, you can submit and process a claim promptly and get paid. However, you should ask and find out what medium you can use to contact your domestic policy or their international partners should the need arise.

For most insurance providers, channels such as email and their chat systems built into their website are sufficient to start the process, for others you would need to contact your insurer and fill out a claim form explaining the circumstances of providing your travel insurance certificate will

TRAVEL INSURANCE CLAIMS GUIDELINE

In such situations, most people find the use of an insurance broker extremely helpful because with a broker you don’t have to worry about the technicalities of the process of making and settling a claim.

However, if you do the process yourself, you should adhere as closely as possible to the following general rules:

Travel Claims Guideline at a glance

  • Report the damage as soon as possible: Most insurance companies have a specific deadline within which you must report the damage. Make sure you know this period and don’t exceed it.
  • Complete and submit the claim form: You must provide your insurer with all the necessary information needed to process your claim. The sooner they receive this information and other documents (possibly such as a receipt in the event of theft or a doctor’s certificate in the event of illness), the better.
  • Accept no liability to third parties: This simply means that you accept no responsibility for damage involving third parties. For example, don’t take responsibility for damage to your luggage on an airline. Such an action, or its equivalent, would make it more difficult for your insurer to hold the airline or any other third party liable.
  • Don’t overdo the claim: If you claim that you lost more than you did, finding out will void the entire claim. As tempting as this may be, don’t try, and finally…
  • Fully disclose the issues surrounding your claim: When telling your story about the loss you have suffered, try to tell as complete a story as possible without leaving out details. This will help give the insurer a complete picture of the event and make your claim more credible

Local claims are usually resolved within 48 hours of notification, while international travel resolution times vary from one insurance company to another (depending on how good their service is).

WHAT TO DO IF YOUR CLAIM IS REFUSED?

Again, this is another reason why insurance brokers are recommended as they can properly advise and help resolve any claim denial issues. However, if you don’t have one, your best bet is to contact the insurance company’s customer service. This is normally part of the deal which is independent of the claims unit and your case can be reviewed to ensure everyone involved is happy.

Frequently Asked Questions On How To Get Travel Insurance

Is travel insurance worth it?

Yes, especially for non-refundable travel and travel during the COVID era. Whether you purchase comprehensive travel insurance or have travel insurance with your credit card, you should not travel without some form of travel coverage to protect you and your trip. Travel insurance can protect you in emergencies, for example, flight cancellation due to weather, a medical event requiring hospitalization, lost luggage, and more.

What is the best travel insurance?

There are many good travel insurance policies out there and a policy that is right for you may not be right for someone else. Choosing the best plan depends on the coverage you want and your travel details.

For example, World Nomads offers comprehensive travel insurance with excellent adventure sports coverage. Allianz offers insurance coverage for trips of varying lengths through their single-trip and multi-trip plans. Some providers offer additional options such as travel cancellation insurance for every occasion. If you’re not sure which plan to choose, you should visit travel insurance comparison sites such as Squaremouth or Insuremytrip.

Can I purchase travel insurance after booking?

Yes, that is possible. However, it is better to buy them sooner rather than later, preferably right after booking your trip, because the benefits start as soon as you take out a policy.

Suppose you go on a trip a month and a week before departure, fall and break your leg. If you have travel insurance, you can use your cancellation benefits to get your non-refundable deposit back.

What does my travel insurance cover?

Most comprehensive travel insurance plans offer trip cancellation, trip curtailment, medical and dental emergencies, medical evacuation, trip delay, and lost baggage. Many plans offer COVID coverage, but you should always check if the policy you choose offers this benefit if you’re traveling during these times. Some plans also let you add features like canceling travel insurance for any reason.

Does my credit card cover travel insurance?

It depends on which credit card you have. Premium travel cards like American Express’ Chase Sapphire Reserve® and The Platinum Card® offer travel insurance benefits when you book travel with your card or points.

However, credit card coverage is usually lower than when you take out an individual policy. Check the travel insurance benefits on your credit card and see if the limits are sufficient before deciding to purchase a separate plan.

Conclusion – How To Get Travel Insurance

Unpredictability is one of the overwhelming joys of travel, but travel insurance shouldn’t be full of surprises. The time you spend understanding your options will be worth the peace of mind as you embark on your next adventure.

Travel insurance is useful when moving valuables or to protect your family and loved ones from the consequences of your unfortunate death. While many consider it a waste of money, it’s certainly beneficial in the right circumstances.