Since the coronavirus pandemic halted travel, interest in travel insurance has skyrocketed – but how much does it cost and what exactly does it cover?
Coverage ranges from comprehensive to basic. Some policies exclude preexisting medical conditions while others require them be purchased soon after making your initial trip payment.
Comprehensive Coverage
Comprehensive travel insurance typically provides protection for trip cancellation, lost luggage and emergency medical costs. In addition, many companies also offer specialty products like scuba diving. Before purchasing one of these policies, make sure that it covers what the insurer considers hazardous activities as well as preexisting conditions that might arise before travel begins. Inquire whether there are flight accident coverage policies (also referred to as “crash coverage”) as well as collision damage waivers on rental cars that could help save you from potential financial disaster.
These descriptions are just highlights; for the full terms and conditions and exclusions of an insurance policy contract before purchasing. Please keep in mind that some travel or trip insurance plans may duplicate coverage provided through other sources like homeowners’, renters’ and health policies.
This website is operated by a licensed insurance agency authorized to sell travel insurance on behalf of Travel Insured International.
Medical Coverage
If you become sick or injured while travelling, travel insurance could help cover some of the associated costs. Before purchasing any policy, be sure to carefully read through it to understand exactly what it covers as well as any exclusions such as lookback periods (the length of time that providers can go back in your medical history before making their determination whether your illness or injury was preexisting or related). Also keep in mind any coverage provided through homeowners, life, health or auto policies; they could offer similar advantages.
Some travel insurance plans also provide emergency medical evacuation or repatriation as part of their coverage, commonly referred to as international emergency medical plans or travel medical insurance. Be wary that these policies often place more of an emphasis on emergency care than other policies do, potentially making them more expensive and not available for all travelers; some insurers require prior approval before seeking care, or may exclude certain activities such as sky diving.
Cancelled Trip Coverage
Travel insurance that offers trip cancellation coverage reimburses prepaid, non-refundable expenses in the event that an unforeseen circumstance forces you to postpone or cancel your journey before departure. Insurance policies offering this coverage may be purchased separately or as an added perk on premium credit cards. Policies vary when it comes to listing reasons for trip cancellation; some examples might include sudden illness or injury making you or your travel partner unfit to travel; death of an immediate family member or business associate; natural disasters that impact your destination or point of departure; military call-up duty or other emergency duty; legal requirements like jury duty or summonses in court, etc. Certain policies offer Cancel for Any Reason coverage that gives more comprehensive protection; however this may not cover every aspect of the cost.
As you search, use the filters on the left side to narrow your options and only see plans that include trip cancellation and interruption coverage. Enter your travel dates and preferences for an estimate of policy cost; if satisfied with it, purchase online immediately; otherwise click any “?”
Baggage Coverage
Baggage insurance reimburses travellers for items lost or damaged during a trip, such as checked luggage and carry-on personal items like laptops or cameras. The cost of baggage coverage varies depending on the plan purchased and its level of coverage; typically this reimburses up to the actual value or up to an agreed plan limit; in order to receive reimbursement on higher value items receipts are often required before receiving reimbursement. Furthermore, most policies also cover luggage delay expenses such as restaurant meals or needed toiletries that occur while waiting.
Most plans require filing a Property Irregularity Report (PIR) with the airline to file a claim for lost luggage or baggage delays, which will then be assessed and compensated accordingly by travel insurance providers. Some policies may cover bags that mysteriously go missing – however it’s wise to read your policy details thoroughly as each coverage might vary accordingly.
Consideration should also be given to how a travel insurance policy compares with any other forms of coverage you may possess, such as homeowners or renters insurance policies, in terms of limits and exclusions associated with each policy. If any questions arise concerning their terms and conditions or limits apply to a policy or its provisions directly contact your insurer immediately.