While every traveler wishes for the best on their trip, it is important to plan how you will handle the unexpected. Even though it's not something we like to think about, accidents on the road, medical emergencies, or other disasters could cause significant financial losses. Fortunately, there are ways to minimize these risks and keep you on track when traveling.
How does Travel Insurance work?
There are a variety of travel insurance policies to choose from, and each one offers coverage for different trips and activities. Travel insurance is important for your needs, budget and to ensure you have full coverage when you depart.
Pre-existing condition coverage
Many companies look at your medical records before approving your travel insurance policy. It's called a "look back" period, and it varies from one company to another. However, the average is 90 to 120 days. If you don't disclose your health condition, you may be required to pay a higher premium.
Flight cancellation and delays
The majority of comprehensive travel insurance policies cover cancellations or delays caused by illness, bad weather conditions or other unforeseeable circumstances. This coverage could be a lifesaver as it will help pay for hotel rooms while you are waiting for the flight to rebook.
Find lost luggage and get emergency assistance
In case your luggage goes missing or you are in need of emergency medical care, it is important to reach the nearest hospital. This expense will be covered by a comprehensive travel insurance policy up to its limits.
Missed connection
If your travel plans fall through, missing a connection flight can be a nightmare. Trip insurance will cover missed flights, cruises and other transportation connections. You can use this coverage to pay for your hotel, meals and other expenses while you wait for your flight to be rescheduled.
Dental and medical emergency abroad
If you have a health insurance plan that covers you abroad, but you have to pay up front for a procedure or an overnight stay, your travel insurance policy can help cover the cost. This coverage is not included in most insurance packages and is considered an add-on.
Accidental death
If something happens to you while you're on a trip, travel insurance can offer coverage to help you pay for the funeral costs. It can also help you get money back to your beneficiaries.
Documentation of your claim is required, for example a medical statement or a statement issued by your airline. Your insurance company will check your medical records and reimburse you.
You can get the insurance coverage you require for your vacation by purchasing it along with your airline tickets. This is especially true if you're going on a vacation or tour.
You can buy travel insurance from an insurer directly or online
Most major travel agencies sell policies, but you can also buy one from most supermarkets, banks or online retailers. You can add travel insurance to other travel plans such as package deals from your airline or travel agent.