When traveling, everyone hopes for the most positive outcome. But it's also important to think about how you will deal with 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?
There are many types of travel insurance to choose from. Each one covers different trips and activities. It's important to choose the right type of travel insurance for your needs and budget, and to make sure you're fully covered when you leave home.
Pre-existing Conditions Covered
When it comes to travel insurance, many companies will look at your medical history before deciding to approve your policy. This is called a "look-back" period and varies from company to company, but it's usually around 90 days to a year. You may also have to pay more for not disclosing your condition within this period.
Flight cancellation and delay
Most comprehensive travel policies will cover cancellations, delays and weather-related issues. 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 the event that your bags are lost or you need medical attention in an emergency, you'll need to find the nearest hospital for treatment. The policy limits will most likely be covered by comprehensive travel insurance.
Missed connection
It can be a nightmare if your travel plans fail. You can make a claim if your trip insurance covers missed flights, cruises, or other transportation connections. This coverage can help you pay for your hotel room, meals or other expenses until your flight is rescheduled.
Dental and medical emergency abroad
Your travel insurance policy may cover some of the costs associated with a medical insurance plan abroad that you already have. This is an optional coverage that may or may not come with your insurance plan.
Accidental death
If something unfortunate happens while you are on a vacation, travel insurance could help pay for funeral expenses. 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. Insurance companies will review your medical history and reimburse you.
Travel insurance is best purchased at the time of booking your flight. This will ensure that you have the necessary coverage for your trip. This is particularly true if your trip involves a vacation or a touring.
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. Travel insurance is available as an addition to your other travel arrangements, such as those offered by your travel agent or your airline.