Benefits of travel insurance
- Medical expenses for accident or illness (hospital fee, operation fee, medicine fee)
- Compensation for fatality caused by accident
- Compensation for eternal injuries
- Emergency aid (this right is only applied for travelers going abroad.
In addition, each insurance company or each insurance package has additional rights such as: support in finding lost baggage and personal identity, terrorism risks, legislative consultancy. These rights are clearly regulated in travel insurance agreed between supplier and user.
Types of Travel Insurance
Currently there are many types of travel insurance designed for specific objects such as: travel insurance for Vietnamese, for foreigners into Vietnam, for travelers on business trips, and for students studying abroad.
Where to buy Travel Insurance
There are many insurance companies in Vietnam such as AAA, AIG, Liberty, Bao Viet, Bao Minh … Each company has its own insurance policy, price and compensation expense. Tourists can purchase the service directly at these companies or through prestigious travel agents. Tourists also can choose to buy a package tour which includes travel insurance.
Some regulations on travel insurance:
· Law on tourism – Article 45:“Rights and duties of domestic travel agents”: Buying travel insurance for domestic travelers during the time of tour based on travelers’ request.
· Law on tourism – Article 50 (2.b): “Rights and duties of international travel agents”: Must buy travel insurance for Vietnamese travelers outbound during the time of tour.
· Law on tourism – Article 14: “Travel Insurance”
Vietnamese travelers travel abroad (outbound) must buy travel insurance
Encourage foreign travelers into Vietnam to buy travel insurance.
Encourage domestic travelers to buy travel insurance during the time of tour.
Travel insurance for travelers must be purchased at eligible insurance companies in Vietnam.
Enterprises purchasing travel insurance for travelers have a responsibility to cooperate with insurance companies to the duty of timely insurance service in accordance to the regulations when travelers encounter risks which need insuring.