What Is The Difference Between Travel Protection And Travel Insurance?

Going country-hopping across Europe or on a relaxing hike across the Appalachian Trails, travel insurance is a necessary component for all of your journeys. But in the world of travel, two words often float to the top, ‘travel protection’ and ‘travel insurance.’ 

 

While both these terms are often used interchangeably, it is crucial to distinguish the difference between them and opt for the right one based on your needs. This article will evaluate the two options, explore the differences between the two, and give relevant scenarios for both of them.

 

What is travel insurance?

Travel insurance is a comprehensive policy designed to secure travellers from unexpected risks. They offer financial and medical protection to travellers from dangers arising from unforeseeable circumstances.

 

These circumstances can vary in impact and frequency of occurrence and thus must be considered when planning a journey. The cost of travel insurance is typically higher than travel protection with a much higher scope of coverage and higher sum insured.

 

Some top coverages offered under trip insurance:

 

• Trip delay, interruption, cancellation
• Loss of checked-in baggage
• Missed connection
• Medical emergency
• Personal accident
• Personal liability in case of any injury or damage caused abroad.

 

What is travel protection, and what does travel protection cover?

Travel protection is a limited coverage provided by travel companies offering trip cancellation benefits. These policies are often considered as just a waiver for cancellation fees, but in some instances, travel agencies might offer a more comprehensive policy offering some additional medical coverage. The cost of opting for travel protection is typically much lower than travel insurance, along with the total extent of return.

 

What is the difference between travel insurance and travel protection?

 

Scope	Travel Insurance	Travel Protection
Extent of coverage	The extent of coverage for travel insurance is much more comprehensive and covers facets relating to the trip, health, accidents, etc.	The extent of coverage for travel protection is limited and only offers protection for select scenarios.
Cost	The premium cost is higher when compared to travel protection but can have variations in the plan opted for.	The cost of the premium for travel protection is lower than that for insurance.
Sum insured	A policyholder can choose a sum they wish to insure the policy for. For example, Niva Bupa offers coverage ranging from $50,000 to $500,000 for single-trip insurance and up to $500,000 for student travel.	Typically, a traveller cannot choose how much to protect their trip for.
Provider	An insurance provider sells the policy.	The travel companies themselves offer this protection.

 

 

Which is better, travel insurance or travel protection?

If you are wondering which is a better option for your travelling needs, opting for international travel insurance for foreign travel is significantly more effective and beneficial. However, there are certain scenarios, like when travelling within one’s own country where the traveller already has valid health insurance, travel protection is a considerable option.

 

Conclusion

Going on a trip is expensive, and any unexpected expenses can build up, resulting in a negative travel experience and significant financial loss. This is why you can opt for travel protection or insurance to safeguard your investment and protect the interests of yourself and your loved ones. If you are making this decision and considering which one to purchase for your trip, refer to the table to understand the difference and decide accordingly. 

 

Based on your needs, safeguard your journey and travel with the confidence that you are protected from the impact of dozens of risks.

 

 

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