Do You Really Need Terror Attack Insurance?
Terror attacks occur more frequently during the last several months. Is there any terror attack insurance? This may be a common question, particularly in terror sensitive zones. Some countries have long-term terrorism insurance. They include Australia, France, Austria, South Africa, Spain, Netherlands, the United Kingdom, India, and several other countries.
In addition, the policy related to terror attack insurance varies from a country to another. For instance, Netherlands limit the amount of annual insurance payments to a billion euro per year. This applies for property insurance, medical insurance, and life insurance.
Important Notes about Terror Attack Insurance
Terror attack insurance is important for people who live in sensitive zones or those who frequently visit areas in sensitive zone. The insurance policy is available for personal travelers and businesses that want to insure their assets. However, make sure to learn the policy carefully since the coverage can be limited to certain conditions. The following are some important facts to note about terror attack insurance:
- Some companies may include terrorism insurance into the travel insurance, rather than offering it a single policy
- Terrorism insurance may be void in areas with travel warnings. In case that the government issues travel warning for a country that has been attacked by terrorists, you may not be covered by insurance if you travel to that country
- Many insurance companies exclude cancellation fees, alternative transport expenses, or lost deposits in case of cancellation or delay after the terror attack. This is hardly acceptable. So, make sure to check the policy carefully.
- Few insurance companies cover medical expenses due to terror attacks.
So, if the terror attack insurance is not dependable, what should you do? If you frequently travel to high-risk countries, make sure to have a back-up insurance policy. Find travel insurance that offers free cancellation in case of terror attack. Consider a health insurance plan that offers comprehensive coverage. This way, you can travel with peace of mind.