As more countries start treating Covid-19 as endemic, it seems about time for sports junkies to chase after their next adrenaline fix abroad. From hitting the slopes in Japan to swimming among the reefs in Bali or more thrilling activities like skydiving, seasoned euphoria seekers may not be strangers to adventures.
However, accidents can easily happen even to the most cautious individual, especially when extreme sports and unfamiliar terrains are involved. As such, procuring insurance coverage before you travel is crucial in empowering you to make the most of your active lifestyle, safe in the knowledge that you are protected by a figurative safety net.
With a range of insurance policies available, choosing the plan that best suits your travel needs can be challenging. To help you out, continue reading to explore the key factors to look out for when shortlisting your insurance options.
1. What Kind of Sports Does Your Travel Insurance Cover?
Travel insurance covers a broad range of exciting sports activities, and these are generally grouped into two main categories as follows:
- Leisure sports: This refers to amateur sports you engage in for physical fitness or enjoyment.
- Professional and competitive sports: These refer to sports where you earn an income or remuneration when you engage in them.
Professional and competitive sports are typically not included in travel insurance. Meanwhile, leisure sports cover a broad umbrella of activities, including hiking, rock climbing, horse riding, scuba diving, parachuting, rafting, diving, trekking and hot-air ballooning. The scope of recreational activities varies between insurance plans, with some excluding activities that come with inherently higher risks. Insurance companies may also include restrictive clauses stipulating the conditions under which you participate in the sports activity.
For instance, the Zurich Get “Z” Go Supreme Plan excludes riding or driving in any kind of motor racing. Meanwhile, FWD’s travel insurance policies cover leisure and amateur sports activities that take place within a specified range of altitudes above and below sea level. Another example is the MSIG iTravel Plus plans, which do not cover individuals above the age of 70 who engage in such activities. Therefore, it is always recommended that you check the clauses of your policy before a decision to ensure that the sports you will be engaging in are covered.
2. Does Your Chosen Travel Insurance Include Emergency Evacuation?
Because of the specific requirements of sports activities, you may often need to travel out to the wild. For example, cliff diving, hiking and scuba diving typically occur in remote mountains or far out at sea where there is the required space and conditions for individuals to perform these activities. However, these locations often have limited access to transport and critical medical facilities. Thus, you may be forced to seek emergency medical evacuation when an unfortunate incident occurs to ensure that you can receive timely medical attention.
While the fees charged for evacuation varies based on your travel location, it is still an expensive affair, with expected cost as follows:
- Caribbean and Mexico: US$15,000 – US$25,000
- South America: US$40,000 – US$75,000
- Selected regions in Europe: US$65,000 – US$90,000
- Asia, Australia and the Middle East: US$165,000 – US$225,000
Keep in mind that this amount only includes your transport, and the total cost can snowball quickly if you require additional treatment or a medical professional to escort you back to your home country. As such, it is advisable to sign a policy that includes emergency evacuation and factor in the rates for extra medical services when determining the coverage your travel insurance should provide.
3. Does Your Travel Insurance Cover Follow-Up Treatments?
In the event that you become injured while participating in sports during your travels, you may require follow-up medical care when you return home. While public healthcare is made affordable in Hong Kong, there may be instances when treatments in private hospitals are required. As one of the countries with the costliest private healthcare fees in the world, you will want to find an insurance plan with good coverage for follow-up treatments to minimise out-of-pocket expenses.
4. Do Your Activities Involve Sports Equipment?
Besides ensuring that your medical needs are covered, it is also essential to consider compensation for property losses. If you plan to engage in activities that require you to prepare your own equipment, it will be wise to check how much your travel insurance offers should your gear be stolen or damaged. If your equipment is costly, you will certainly want to invest in an insurance plan with robust coverage for such losses.
Compare Travel Insurance Plans with Ease on MoneySmart
Regardless of how experienced you are in your chosen sports, having a reliable travel insurance plan provides peace of mind, enabling you to focus on what really matters – enjoying every minute of your trip! With a little bit of research, you will be able to sieve out the ideal plan that covers your desired activities.
To make this policy sourcing process more straightforward and stress-free, MoneySmart offers a platform housing an extensive range of travel insurance plans with coverage for sports activities. Designed with various search filters, you can quickly narrow your options based on your specific requirements and easily compare plans to find the perfect policy. Keep your adventures worry-free by shopping for travel insurance policies online today.
