Travel Insurance: Description of Travel Insurance

Your annual vacation is a big deal and travel insurance can help make sure you still have a good time if anything goes wrong. Travel insurance will financially protect you from the cost of unexpected events during your vacation, such as flight cancellations, loss luggage, medical problems, and so on.

Travel insurance is available to you whether you travel:

  • Within the U.S. or internationally.
  • On long trips or short trips.
  • By cruise liner or airplane.
  • As a businessperson or for pleasure.
  • As a child, adult or senior.
  • To the safety of a sandy beach or the wild jungles of Brazil.

You can purchase a temporary travel insurance policy each time you buy a ticket, and you will be covered for the duration of your trip. You can also buy an annual travel insurance plan to cover you for a year if you are a frequent traveler.

Travel Insurance: Description of Travel Insurance

It is recommended that you purchase travel insurance from an insurance company independent from your airline, train, bus, car or cruise line. Many travel companies, such as airlines, offer travel insurance, for a small fee, with your airplane ticket; however, their travel insurance coverage is usually very minimal. The insurance you get with your cruise line tickets usually only covers the cruise and does not include any flights, additional tours or side trips. A standard travel insurance policy purchased directly from an insurance company can offer you much more coverage. It will also allow you to add and remove items to customize it for your specific needs.

In order to help you decide what kind of coverage you need, divide your trip into four different categories:

  1. Cost. Any event that can affect the cost of your trip, such as a cancellation or an interruption.
  2. Property. All of the items you bring with you or buy while you are away.
  3. Medical. In case of a medical emergency or the recurrence of a pre-existing condition.
  4. Life. If you or a traveling companion are dismembered or killed.

Your travel insurance premium is based on which insurance company you use, your deductible, what kind of coverage you want, the length of your coverage and the number of people on the policy.

Travel insurance is also known as traveler insurance, trip insurance, vacation insurance or holiday insurance. Your travel insurance has the flexibility to be tailored to your unique travel plans.

Travel Insurance: What Does Travel Insurance Cover?

You are on your way home after a wonderful vacation. You get to the airport only to find out your flight has been cancelled. Your travel insurance will financially cover your hotel and meals if you cannot get another flight out right away. Travel insurance has many options so you can customize your coverage to fit your holiday:

  • Trip cancellations, interruptions, delays and missed connections; new travel arrangements, accommodations and food—whether it is due to an airplane or airport issue, weather, work, jury duty, health or scheduling issue.
  • Most airplane tickets are now non-refundable; your travel insurance will cover you if you need to cancel your flight.
  • Baggage that is lost, stolen, delayed or destroyed; the replacement cost of your property as well as any related expenses, including a change of clothing. The maximum allowance is predetermined in your travel insurance policy.
  • Medical care if you or someone you are traveling with becomes ill, including emergency evacuation, tests, treatments, medicine; the transportation of a deceased person back to the U.S., and any other related expenses. There is a difference between international and domestic medical coverage, make sure you are covered properly for your vacation.
  • Pre-existing condition coverage usually comes in the form of an add-on and a higher premium to cover medical treatment for a chronic ailment.
  • Accidental death and dismemberment (AD&D) and flight accident coverage is available for your beneficiaries to collect if such an event occurs during the course of your vacation or while on the aircraft.
  • Vehicle rental coverage for damage and repair costs resulting from an accident.
  • Terrorism or any other form of civil unrest that requires an unexpected change in your travel plans, whether you need to leave immediately or cannot leave for an extended period of time. You can be covered for any incurred expenses.
  • Company travel insurance is for business travel and is a comprehensive plan that includes many of the common coverage as well as the loss or damage of your company’s property.
  • Adventure travel insurance is for people who want to travel to remote and dangerous parts of the world where there is a higher chance of injury, food poisoning, sunstroke or robbery.

Whether your trip is a weekend getaway or an “Around-the-World-in-80-Days” adventure, there is a travel insurance plan that will fit your needs.

Travel Insurance: Who Needs Travel Insurance?

Travel Insurance: What Does Travel Insurance Cover?

If you are worried about your vacation and what could go wrong and how expensive that situation might be, get travel insurance coverage to keep your worries at bay.

Leisure travel insurance is your most basic form of travel insurance. It covers a wide variety of common issues and allows you to make changes to suit your vacation plans.

Families who travel should be financially covered for the infinite number of things that could go wrong while traveling with children. You will be covered for almost every medical contingency, as well as emergency accommodations and childcare requirements.

Adventurers who like to climb mountains, scuba dive or hang glide can get coverage for rental equipment damage, as well as medical coverage.

Student athlete travel insurance is for students who travel across the country or around the world with their sports team. Schools and athletic facilities require students to have valid health insurance before they can play. Travel insurance geared toward an athlete is an excellent way to be insured for those away games.

Business travelers have a number of options from which to choose, including international or domestic travel, company property losses, as well as annual policies to cover multiple trips in one year. A business itself can purchase a master policy that covers all of its traveling employees.

A pre-existing condition can become irritated from the stress and changes in environment that are inherent in travel. You can be covered. However, confirm your policy’s definition of a pre-existing condition, as well as indemnity and timing limitations. Most travel insurance plans are actually more accommodating than health insurance plans. If you have a chronic health problem, you will probably find the right travel insurance coverage.

Cruise insurance is important for your holiday cruise. Your policy will include coverage for extraneous costs due to mechanical problems, any issues that may arise getting to the ship or getting home, and for any incidents that may occur during your day trips in different ports of call.

International travelers need coverage because your U.S. health insurance is only good in the U.S. You can also run into issues with foreign laws and costs associated with medical issues. International traveler insurance will take care of any unexpected medical costs.

Traveling can be a risky adventure, so make sure you are financially prepared for all contingencies no matter where, when, why, how or with whom you are traveling.

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