TRAVEL INSURANCE WITH SPORTS COVERS

July 31, 2019

TRAVEL INSURANCE WITH SPORTS COVERS

Did you know that Travel Assistance insurance with standard coverages does NOT cover the risk of a sports accident?

Now, why did we build a Travel calculator with coverages for sports?

More and more people choose to spend their free time and vacations not only away from home but also practising their favourite sports. Here at 24ins, we also love to climb, sail, ride bikes and do a bunch of other fun activities. We often receive requests from clients asking about insurance with such coverages. Each inquiry required time and communication with our insurance company partners which affected the service we offered to our clients. Because we love to provide quick and convenient services, we thought it was worth developing a calculator for sports lovers, including ourselves.

We are hoping to see more insurance companies offering such products.

How did we build this calculator?

We started with an analysis of the insurance companies' current tariffs, moved on to direct enquiries to the head offices, and finally reached out to the risk experts. We went through the details of each sport and its coverages with all of the insurance companies. We learned about some sports we didn't know anything of. We read over 200 pages of Terms and Conditions. We sent over 90 emails.

Who is the calculator for?

It's for everyone who plays sports while travelling or travels to play sports - freeriding, climbing, mountaineering, cycling... all the 40+ sports we have included. You can choose whether your insurance is for Bulgaria or abroad, for a certain period of time or on annual basis. You can see the quotes just for yourself or for a group you will be travelling with!

Tip: Some companies offer discounts for bigger groups.

This calculator is NOT for professional athletes. Their premiums are usually calculated individually and cannot be aggregated into a calculator.

Why does practising sports pose an additional risk when travelling?

Obviously, the chances of an accident are greater if you are skiing, cycling, sailing or climbing a peak than if you are sitting on the beach or in a pub having a beer. This is the reason why insurance risk experts will mark up premiums if you are practising certain sports. Each insurance company assesses risks differently for certain sports. Estimation methods are usually based on historical incident data, however, some sports lack sufficient data.

How much more will one pay for premiums with sports covers?

As we said before, the rates depend on the type of sport and the insurance company. They start at 10-20% of the standard rate and go up to over 200% for some sports.

What is the underwriting and claims process?

Like all of our services, we have tried to make everything quick, simple and user-friendly. The Bulgarian legislation imposes some restrictions when offering financial services online, which we have taken into account in the process of ordering and paying for the policy.

Once you have calculated and selected the most suitable premium for you, you will be asked to enter personal information and contact details for you as the applicant and for the group of travellers in case a group is insured.

(Detailed information on the purposes and grounds for the processing of personal data by Broker Ins Ltd., the period of storage of personal data, the rights of clients in connection with the processing of their personal data by Broker Ins Ltd., as well as information on how they can be exercised, and any other information required by law, is contained in the privacy policy of Broker Ins Ltd., published on the website 24ins.bg).

After selecting the delivery and payment method of the policy, we will deliver it free of charge to your address by courier or you can collect it from any of our offices.

Alternatively, there is an online delivery process, for which you simply have to complete and sign an Assignment Agreement. In this case, you can receive the policy directly to your email address as soon as the payment has been accounted for. The policy may be valid at 00:00 the next day, so don't leave it for the last minute.

In the event of an accident and in need of assistance. The assistance company should be contacted if you are abroad. You can find the emergency contact numbers in the policy. You can contact them 24 hours a day, 7 days a week. They will direct you to the appropriate service or medical facility. You can also call 24ins.bg's 24-hour customer helpline for advice or guidance at any time at 0700 4 24 24 or choose another form of contact from our "Contact" section.

Have a great time practising your favourite sports!

Check out the quotes of Travel insurance with covers for your favourite sport here: https://24ins.bg/en/travel-insurance-sport

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