Monday, July 18 2011 18:55

70-80% of Armenian travelers buy travel insurance


ArmInfo. 70-80% of Armenian travelers buy travel insurance, First Deputy CEO of INGO Armenia insurance company Arevshat Meliksetyan said during a press-conference Monday.

He said that insurance companies are beginning to show a more conscientious approach towards travel insurance. "They have begun insuring even people going to Moscow," Meliksetyan said.

He said that in Schengen states it is a must for tourists to have travel insurance. For the Schengen zone travel insurance costs 450 AMD a day with the extent of insurance being 30,000 EUR. For Turkey it is 350 AMD, for the United States - 500 AMD.

Meliksetyan noted that Europeans and Americans pay much more for their travel insurance. Medical treatment abroad is also very expensive: in the US one day in hospital costs $2,000,one injection - $900.

Sudden illness, accident and death are all considered as insurance events for travel insurance. The policy covers medical treatment, damage or loss of baggage, liability (if a traveller causes harm to a third person abroad). Insurance companies are not responsible for military actions, civil wars, revolts, strikes, impact of nuclear explosion.

According to ArmInfo's Ranking of Insurance Companies of Armenia, Jan 1 2011 the share of travel insurance in the total amount of insurance premiums was 4%. INGO Armenia was the leader with 42% of all travel insurance premiums.
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