The Different Types Of Travel Insurance Policies You Can Buy

By Michael Diaz. May 7th 2016

Are you gearing up for an expensive vacation or a lengthy business trip? If so, then you may want to take a look at the various types of traveler’s insurance available to you. Traveler’s insurance can provide protection from canceled or interrupted trips. It can also assist you with the costs of medical coverage in the event of an emergency. Finally, traveler’s insurance can provide coverage for lost or stolen items. Check out these types of traveler’s insurance before your next trip. While you may never end up using them, they may be able to provide you with piece of mind while you are traveling.

Travel Health Insurance

Many people mistakenly assume that their health insurance will cover them in another country. This is not necessarily true. Whether or not you have coverage outside of the United States will depend on your particular policy. Call you provider and ask about your coverage if you are out of the country.

If your plan does not cover the expenses of international health care, you might want to look into a travel health insurance policy. Generally, these policies will only provide coverage in the case of an emergency. Therefore, a visit to the doctor might have to be paid out of pocket. However, the specifics will depend on the particular policy that you buy.

You should also be aware that traveling to countries that the US government has deemed unsafe may void your policy coverage.

Evacuation Insurance

This type of insurance will cover the cost of transporting you to a location where you can receive emergency medical treatment if it is not offered at your current location. Usually, this type of policy will only take you to the nearest hospital or medical center.

Trip Cancellation Or Interruption Insurance

This insurance provides coverage of the money that you lose if you need to cancel or interrupt your trip. The majority of these policies only take effect in the case of illness, injury or death to you or your immediate family member. Some policies also provide coverage if someone you are traveling with falls ill, gets injured or dies. Other cancellation and interruption policies provide coverage if you lose your job and can no longer afford the trip.

Other types of events that can be covered include your airline or tour company going out of business, a terrorist attack or inclement weather. It is important to note that war and outbreaks of disease usually are not covered.

Note that this type of insurance is generally reimbursement only. This means that you have to pay for the costs upfront and then submit a reimbursement form to the insurer to get your money back.

Baggage Insurance

If you are traveling with valuables, you might want to look into baggage insurance. This insurance can provide coverage in the event that your baggage is lost or stolen. Your policy will lay out how much the insurer will reimburse you for your lost items.

Note that many airlines already provide some form of baggage insurance. Many homeowners and insurance policies also provide some coverage for lost or stolen baggage. Look into these before purchasing a separate baggage insurance policy.

Travel Document Insurance

Ever worry about losing your passport? If so, you can purchase travel document insurance which will cover the cost of a replacement passport in the event that yours is lost or stolen.

Flight Delay Or Cancelation Insurance

This type of insurance will provide you with money for lodging, food and new travel arrangements in the event that your flight is delayed or canceled. There is generally a minimum amount of delay time that must occur before the insurance kicks in.

Packages

Many insurance companies offer travel insurance packages that include multiple types of coverage, sometimes at a discount. If you are interested in obtaining comprehensive trip coverage, you might want to look into one of these packages.

Sometimes the unexpected occurs and our travel plans get thwarted. If you are concerned about the possibility of losing money or valuables or needing emergency medical treatment, you might want to consider purchasing a travel insurance policy. If you do decide to buy a policy, make sure that you do your homework ahead of time so that you get the best deal and you fully understand what’s covered and what’s not covered on your policy.

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