Media: Premium Lifestyle magazine
The four elements issue
Interview
July, 2024
Rumyana Betova is an Executive Director and member of the Board of Directors of Euroins Bulgaria, a leader on the Bulgarian market in sales of Travel Assistance Abroad and Trip Cancellation insurances. The company is part of "Euroins Insurance Group" AD, one of the largest independent insurance groups in Central and Southeastern Europe, which operates in 11 countries. Mrs. Betova holds a master's degree in mathematics and informatics from Sofia University "St. Kliment Ohridski", master's degree in insurance management from SA "Dimitar Tsenov" and is a certified actuary.
Mrs. Betova, why is it important to get insurance before traveling?
On a trip, especially to a distant destination, a number of unforeseen situations can happen. A person may suddenly become ill, have an accident, or experience other unpleasant and unexpected events. For this reason, it is necessary for everyone to have Travel insurance when planning a trip, especially abroad. One such insurance is Travel Assistance Abroad – Traveler, which not only gives you the peace of mind that you will get the medical help you need in case you need it, but also that you won't pay extra for unforeseen expenses. When a person suffers an accident and needs medical assistance abroad, only then does he realize how important it is to have insurance with a good coverage of at least 30,000 euros and to be able to receive mediacl assistance from an assistance company 24/7.
Has the level of travel insurance in Bulgaria increased?
With the increase in the number of travelers, Travel Assistance Abroad – Traveler insurance is becoming more and more popular. Encountering various situations abroad, tourists began to appreciate the benefit of not only this insurance, but also increased interest in Trip Cancellation insurance, especially for distant destinations.
Tell us what the Travel Assistance Abroad – Traveler insurance includes?
The main covered risk under Travel Assistance Abroad – Traveler insurance is medical expenses in the event of a sudden acute illness or accident during the trip. If necessary, the insurance also covers transport to a medical facility, medicines, as well as compensation in the event of an insured event within the limits of the limits of civil liability in the insurance contract. Other covers are for example baggage theft, loss or delay of baggage, expenses for essential goods, flight delay, missing a connecting flight, shortening or extending the stay abroad, repatriation of mortal remains and many other options.
And how is the Trip Cancellation insurance different?
Trip Cancellation Insurance enables travelers to protect the expenses they have incurred on their trips by covering the relevant portion of the insured basic trip expenses that is deducted as a fee or penalty due to the cancellation of the relevant reservation. We are talking about the cases when the insured cannot travel due to any of the reasons described in the General Terms and Conditions of the insurance, which cannot be foreseen at the time of concluding the insurance contract, such as a sudden illness, for example, etc. With Trip Cancellation insurance, tourists are sure that they will not lose the money they paid for their vacation.
What would you recommend to those of our readers who travel frequently and would like to avoid taking out separate insurance for each trip?
For this type of clients, we offer an annual Travel Assistance Abroad – Traveler - Multitrip insurance, which includes an effective stay of up to 30 days within one trip abroad. There is no limit to the number of trips per year. The insurance is concluded for one year, but within 30 days the client must return to Bulgaria, even if he leaves again on the 31st day. This way, clients don't have to take out insurance policies for each trip, something that we often forget about and think about at the last minute and causes us a number of inconveniences.
And is there a need to insure ourselves if we travel only within the country?
Yes, especially if you do mountain treks or practice extreme sports. If a person has health insurance, the medical costs are borne by the state, but the costs of the rescue operation should be paid by the injured himself or his relatives.
Insurance is a way to ensure a safe trip - could you give examples from practice that prove it?
We have a number of examples that prove the benefit of Travel Assistance and Trip Cancellation insurance, not only from the period of COVID 19, but also now that the danger has passed. I can share about several interesting examples:
Our client had taken out Travel Cancellation insurance, but two days before the start of the trip, his child contracted measles and was quarantined. We reimbursed the travel expenses of the entire family.
Another case: a tourist in Turkey, insured with our policy Travel Assistance Abroad – Traveler with a limit of 20,000 euros, suffered a syncope (short-term loss of consciousness), as a result of which we paid out an amount of BGN 13,540.
Or another case of travel in the USA - the insured has a policy with a limit of 20,000 euros. He complains of sharp pains in the abdomen, is examined by a doctor and a hospital stay is required. The amount paid under this policy Travel Assistance Abroad – Traveler amounted to BGN 16,629. And another drastic example from the USA - after a heart attack and with insurance with a limit of 50,000 euros, an amount was paid up to the policy limit - 50,000 euros . The interesting thing here is that the US hospital bill alone was worth 115,797 USD.
Rumyana Betova, Executive Director and member of the Board of Directors of Euroins Bulgaria