Traveling is an exciting experience that allows you to explore new cultures, interact with strangers, and learn about new places. However, to enjoy your travel experience, you need to ensure that you’re safe—besides your passport, money, and other valuables, you need to protect yourself. This is where travel insurance comes in.
Traveling (whether domestic or international) involves risks, including getting involved in an accident, having your valuables stolen, missing flights, and even loss of life. Having proper travel insurance will help reduce the burden of financial loss associated with these risks, giving you peace of mind.
Most people often overlook travel insurance and see it as unnecessary until the unforeseen happens. However, having come to this post, you’re obviously considering getting travel insurance for your next trip and wonder what it’ll cover. This post will provide answers to that question. Read on!
What Does Travel Insurance Typically Cover?
Generally, travel insurance policies cover three main things: protection for your well-being, protection for your personal belongings, and protection for your finances. That said, here’s what your travel insurance should include:
Trip Cancellation Coverage
Unforeseen circumstances such as injury, sickness, or even the death of a family member can lead to trip cancellation. Without travel insurance, trip cancellation can lead to a huge financial loss.
Luckily, your travel insurance policy covers trip cancellation and can reimburse you for prepaid and non-refundable trip payments if you cancel the trip due to a covered reason. These can include hotel room costs, airline tickets, rental vehicle costs, and other costs. Considering these benefits, you may want to get instant travel insurance if you’re yet to get one for your upcoming trip.
Some valid reasons for trip cancellation include illness, injury, death of a family member or a fellow traveler, unplanned official duty, and civil arrest in your area or where you’re visiting.
However, it’s important to understand that your insurance will only reimburse you if you cancel the trip for a covered reason. For instance, you’ll not be reimbursed if you cancel your trip just because you changed your mind about traveling to a particular destination.
Of course, you can have the highest flexibility when it comes to making changes to your trip by adding ‘cancel for any coverage’ to your travel policy. While this will increase your policy cost by a significant percentage (depending on your insurance provider), you will be able to cancel your trip as long as you meet the requirements set by your insurer.
Another benefit of travel insurance is travel delay coverage. This coverage can provide financial relief if you experience travel delays that affect your travel plans. Travel delay coverage can reimburse for lost prepaid expenses and the extra costs you incur due to delays, including accommodations, meals, and transportation.
But remember, your insurance will only consider such things a delay if they last for the minimum time included in your plan. Besides, the reason for the delay needs to be stated in your plan; otherwise, your insurance won’t reimburse you.
Ensure to read your travel insurance carefully to determine what it covers when it comes to travel delays and the limits. You’ll also need to consider the free look period travel insurance when choosing your travel insurance policy to determine how much time you have to review your plan.
Trip interruption is when you’re forced to cut short your trip to attend to other issues. Interruption can also lead to delay and cause you to stay at your destination longer than you should. This is where trip interruption coverage comes into play.
Ideally, trip interruption insurance can reimburse lost prepaid costs and cover the extra costs of accommodation or your trip back home, depending on your plan.
Trip interruption coverage comes in handy for those unforeseen travel emergencies. For instance, you may fall ill or get an injury during your trip, and you’re forced to cut it short. You can also be in the middle of your trip to Hawaii when you receive word that your close family member is gravely ill and you need to go back home.
Getting the first available flight back home will come in handy in such a case. Your trip interruption insurance will help cover the cost of traveling back home and reimburse your unused part of the trip, giving you peace of mind. One important thing to remember with trip interruption is that you’ll need to inform all your travel suppliers, including tour operators and hotels, within 72 hours of your trip interruption for your travel insurance to reimburse you.
Medical Expenses And Emergency Evacuation
A common question that people ask is whether personal insurance will cover any illness if someone sustains injuries when traveling. The truth is, your health insurance will likely cover illness or injury you sustain on a trip. However, this will not be the case if you’re traveling to a foreign country, meaning you will need to find additional coverage.
Medical coverage and emergency evacuation can pay the cost of transportation to the nearest health facility if you suffer an injury or become seriously ill. The policy can also pay for your transport back home if medics deem it necessary.
More specifically, an emergency medical evacuation plan in travel insurance can cover:
- A medical escort on your flight home
- Cost of family member or friend to travel with you
- Cost for your children to travel home
- Repatriation of remains
There’s nothing as bad as losing your baggage when on a trip. Luckily, your travel insurance policy can reimburse you up to the maximum amount stated on your policy in case of theft or damage to your baggage and personal items.
However, you must report losses to your airport, airline, police, hotel manager, and other relevant authorities to qualify for a claim. It’s also important to remember that cash, expensive jewelry, heirloom items, etc., are most likely not covered by your travel insurance policy.
Having a travel insurance policy is necessary in the present world, where many unforeseen events are likely to unfold. However, it’s important to remember that one travel insurance plan can vary from another, so read your policy carefully to understand what is covered and what isn’t. How much you’ll pay for your travel insurance will vary depending on how much coverage you want, the nature of your trip, and your insurer.