While every traveler wishes for the best on their trip, it is important to plan how you will handle the unexpected. While no one likes to think about it, travel accidents, medical emergencies and other disasters can cause significant financial losses. Fortunately, there are ways to minimize these risks and keep you on track when traveling.
What is Travel Insurance?
Travel insurance comes in many different forms, each offering coverage for a specific trip or activity. Choose the best travel insurance policy for your budget and needs to ensure you are fully covered.
Pre-existing condition coverage
In order to decide whether or not to approve your travel policy, most companies will review your medical record. This "look-back" time period varies depending on the company. But it is typically between 90 and a year. This is also important because you could be charged more if your condition was not disclosed during this period.
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 can be a lifesaver, as it can help you pay for a hotel room while waiting for your flight to rebook.
Lost luggage and 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. Most comprehensive travel plans will cover these costs up to the limits of their policies.
Missed connection
It can be a nightmare if your travel plans fail. If you have trip coverage, you can claim for missed connections, such as cruises, flights or other transport. You may be covered for the cost of your hotel stay, meals, or other expenses until you can reschedule your flight.
Dental and medical emergency abroad
Your travel policy can help pay for the costs of a procedure, or an overnight hospital stay if your health plan covers you while abroad. This coverage is not included in most insurance packages and is considered an add-on.
Accidental death
If you get sick or injured on your trip, you can use travel insurance to cover funeral costs. It can also be used to get money returned to beneficiaries.
Documentation of your claim is required, for example a medical statement or a statement issued by your airline. The insurance company then checks your medical record to reimburse you.
The best way to get the travel insurance you need is to purchase it at the same time you buy your tickets. This is especially true when you're planning a vacation.
Online or direct from an insurance company, you can purchase travel insurance
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.