NAIROBI, Kenya, Oct 1 – The travel insurance sector will see a gradual sustained growth in the next two years as two in five Kenyans travelling outside the country sign up for travel insurance.
Kenindia General Manager Valiveti Kumar said the increasing threats in countries Kenyans travel to, extreme weather conditions and medical tourism have contributed to the increase in travel insurance sign ups.
“Our customers have come to appreciate that the financial risks involved in a travel mishap outweigh the small cost of getting a travel insurance cover. For example, one takes their relative to India for a surgery but gets sick while there what happens? Sometimes one’s health insurance doesn’t cover the country or area they are travelling to hence it is important to have a peace of mind,” said Kumar.
Kumar said that travel insurance would either cover or reimburse a customer for an unforeseen event happening before or during your trip. He added that the price range would be about 1 percent to 12 percent of one’s total trip cost.
“We look at the overall trip, the type of coverage needed, the age of the traveler, the travel destination, the length of stay and any pre-existing conditions. Travelers get to select the type of cover they desire, depending on their personal circumstances and situations,” said Kumar.
Kenindia offers five types of travel insurance: premium, business, Schengen, Worldwide excluding USA and Canada, Worldwide including USA and Canada, Individual and family cover . The cover has an upper limit of up to Sh20 million provides protection for travelers, their personal belongings as well as many non-refundable trip costs. The cover also includes , loss of checked baggage, delay of checked baggage, loss of passport, personality liability, travel delay and hijack.
The cover also provides medical expenses for a sudden and unexpected illness or accident whilst traveling outside Kenya.
“Like any insurance policy, Travel Insurance may have a number of exclusions depending on the policy. Typically, travel insurance will not cover the loss or theft of baggage or cash left unattended, self-inflicted injuries, acts of civil unrest, and any pre-existing medical conditions,” said Kumar.