5 Things to Look for in Travel Insurance
Anything can happen when you go on an overseas trip. Your flight can get canceled, you can get injured or become sick, your tour company can file for bankruptcy and go out of business, or a natural disaster can leave you stranded. These are just some of the events that can ruin your trip and hurt you financially. Getting the best travel insurance can protect you from taking a financial hit while giving you some peace-of-mind when something goes wrong. Here are some of the types of travel insurance coverage you can receive.
1 - Trip cancellation and interruption
Canceling or postponing a prepaid trip for unforeseen reasons can be expensive. If you purchase a trip with a credit card, the credit card company may provide some coverage for certain flights and tours. A trip cancellation or interruption insurance policy will cover nonrefundable fees that you incur for canceling or delaying your trip.
2 - Medical
If you already have medical insurance, you may already be covered if you become sick or injured on an overseas trip. Be sure to check and see if there are any exclusions. If you are on Medicare, you are not covered. You will have to get a Medicare supplemental policy or travel medical insurance coverage. Medical travel insurance covers pre-existing conditions along with illnesses and injuries that occur on your trip overseas.
3 - Evacuation
Many parts of the world are dangerous. If you are planning a trip to a remote area, then you should consider getting evacuation travel insurance in case you are in an accident and need to be transported to the nearest hospital or evacuated out of the country. You may not be covered by your regular medical insurance in a situation like this. Evacuation or medical insurance does not cover you if you are injured while involved in risky or illegal behavior.
4 - Baggage
Coverage for lost, delayed, or damaged baggage is normally included in a comprehensive travel insurance plan. It’s important to know that there are limits on how much will be reimbursed for items such as jewelry, electronics, eyewear, and camera equipment. Keep in mind that airlines and your homeowner’s insurance may provide some baggage coverage.
5 - Theft
Tourists are a favorite target of thieves who are looking to take valuable items such as laptops, smartphones, tablets, cameras, and eBooks readers. Before purchasing theft protection insurance, you will need to know the value of the items you are taking on your trip. You will also need to have a record of the valuable items you bring with you that has the make, model of those items. You should also check to see if your homeowner’s or renter’s insurance provides theft coverage for items that are stolen while overseas. Theft protection will not reimburse you for stolen cash.
The best travel insurance provides comprehensive coverage if something goes wrong before or during your trip. Be aware of what your policy doesn’t cover, such as injuries that occur during extreme adventure activities, alcohol or drug activities, and third-party liabilities. Also, regular check-ups or physical exams are not covered by travel insurance. Keep in mind that the cost of travel insurance is higher for older people than it is for younger people. Be sure you know exactly what you need before you purchase the best travel insurance