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Travel Insurance 101

The 3 building blocks of travel insurance

 

Travel insurance can be an overwhelming and confusing topic. We’ve broken down the three major building blocks of a travel insurance policy. The most common type of travel insurance, comprehensive travel insurance, will most likely include all three of these types of coverage while some travel medical and evacuation plans may include just one or two of these building blocks.

 

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Cancellations

 

Ensure your non-refundable prepaid deposits and payments you’ve made toward your trip are protected. All providers will have a list of unforeseen covered reasons for cancelling or returning home early. Some common covered reasons are:

-Sickness/Injury of you or a family member
-Terrorist Acts or Natural Disasters that happen in a city on your itinerary
-Being laid off from your job

Cancel for Any Reason coverage is exactly like it sounds; the flexibility for cancelling your trip for any reason at all. For this coverage to apply, you’ll usually be required to purchase your plan around the time you’re booking your trip. Most likely, you’re not going to be reimbursed in full.

 

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Medical

 

Medical Expenses: Most people aren’t aware that their Medicare or health insurance plan in the states might not cover them if they travel out of the country. Medical Expense Coverage would provide 24/7 assistance if you’re involved in an accident, fall ill, or even if a pre-existing condition flares up again under some plans.

Medical Evacuation: This is most definitely something that is not provided by your stateside health insurance plan. In the event of a serious accident or illness, the emergency services provider of your travel insurance plan would completely arrange your medical evacuation and medically equipped flight home. These expenses can add up quickly, especially if you’ll be traveling outside of major cities.

 

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Travel

 

Delays & Losses: Trip Delay coverage would help with that additional night in a hotel, meals, and local transportation. If you end up at your destination but your bags won’t for a couple of days, Baggage Delay coverage would reimburse you for those reasonable personal items you needed to purchase to get by. If those bags ended up lost or if your belongings were stolen from you on your trip, Baggage and Personal Effects Loss coverage exists to reimburse you for those belongings or replacement belongings.

Non-Medical Evacuation: If an unforeseen natural disaster or terrorist attack occurs where you’re traveling, non-medical evacuation coverage would quickly arrange for your transportation out of the country and safely back home.