Every traveler hopes for the best when taking a trip, but it's important to consider how you'll handle the unexpected. Although no one wants it to happen, travel accidents and medical emergencies can lead to significant financial losses. There are ways to reduce these risks, and stay on track while traveling.
How Does Travel Insurance Work?
You can choose between a range of policies that cover different activities and trips. You should choose the appropriate travel insurance to suit your needs and budget.
Coverage of pre-existing conditions
Many companies look at your medical records before approving your travel insurance policy. This is called a "look-back" period and varies from company to company, but it's usually around 90 days to a year. It's also important to know that you may have to pay more if you do not disclose your condition during this time.
Flight cancellation and delays
Most comprehensive travel insurance policies will cover cancellations and delays due to illness, weather or other unforeseen circumstances. This coverage can be a lifesaver, as it can help you pay for a hotel room while waiting for your flight to rebook.
Emergency assistance for lost luggage
If you lose your bags or need emergency medical treatment, you must go to the closest hospital to be treated. Travel insurance will usually cover the cost of this up to policy limits.
Missed connection
A missed connecting flight when traveling can be a major problem. But if you have trip insurance, you can file a claim for missed flights, cruises or 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.
Medical and dental emergencies abroad
If your health insurance covers you abroad but you need to pay for an expensive procedure or overnight stay up front, a travel insurance policy could help you cover the cost. It is possible that this type of coverage may not be part of your insurance package. However, it is worth checking into.
Accidental death
If something unfortunate happens while you are on a vacation, travel insurance could help pay for funeral expenses. This can help you return money to your beneficiary.
When filing a claim you'll have to provide proof of your situation, such as medical bills or statements from your airline. Insurance companies will review your medical history and reimburse you.
The best way to get the travel insurance you need is to purchase it at the same time you buy your tickets. It's especially important if you are going on vacation or a tour.
Purchase travel insurance online or directly from the insurer
You can purchase travel insurance through the majority of major travel agents. It is also available at supermarkets, online retailers, banks and other retail outlets. You can also purchase travel insurance as an add-on to your other travel plans, such as a package deal from your travel agent or airline.