Compare Policies from Top Insurance Companies and Protect Your Future Travel Plans
Travel insurance is a policy designed to protect you and your assets while you travel. Depending on the policy you choose, your coverage may reimburse you for medical expenses, lost or damaged property, non-refundable reservations, and even rental car damage.
How much coverage you need depends on the specifics of your trip and personal risks you may wish to prepare for. Traveling abroad typically carries the potential for more risks than taking a trip to a state nearby. Some policies include flight coverage which you wouldn’t likely want to pay for if you’re driving. Often, travel insurance comes in a package that will allow you to pick a certain group of benefits. Discussing the details of your trip with an experienced insurance agent is the best way to determine the coverage you need.
Travel Insurance Coverage
You may not need every type of insurance coverage available for travelers when you’re going on a trip. The specific dangers of your trip, the duration of your stay, and the location of your trip all provide important information that can help you decide on the right type of coverage. Here are some types of coverage you may be offered in a travel insurance policy.
Baggage and Personal Property Coverage: Issues concerning personal property loss or damage are common. Baggage coverage provides reimbursement for lost, stolen, or damaged personal belongings.
Medical Coverage: The type of medical coverage you need depends on the length of your trip. Short term medical coverage covers travelers from a few days to up to a year. Major medical coverage provides coverage for trips that last longer than 6 months. Medical coverage typically should include emergency evacuation and repatriation (a flight back to your country) due to emergency medical care.
Trip Cancellation or Interruption Coverage: Most trips are planned well in advance, but sometimes emergencies lead to cancellations. Trip cancellation coverage refunds travelers for prepaid, nonrefundable travel expenses. If your reservations are only eligible for a partial refund, your coverage would reimburse you for the unpaid balance. Acceptable reasons for cancellation may vary, so it’s important to know the details of your policy.
Flight Accident Coverage: Flight accident insurance provides coverage for injuries or death during an airline flight. Coverage applies to major accidents or something simple like a trip and fall accident or a turbulence related injury. Exclusions apply.
Accidental Death Coverage: If an accident results in death, an accidental death policy pays benefits to surviving beneficiaries. This coverage does not cover death due to conditions unrelated to travel like illness, pre-existing conditions, or drug overdose.
Car Rental Collision Insurance: While rental companies offer collision coverage for the vehicles they rent out, the coverage may be less expensive if you secure it with your traveler’s insurance package. This coverage provides reimbursement for damage to a rental car.
24-Hour Assistance: 24/7 emergency services may include replacing lost passports, cash wire assistance, and re-booking canceled flights.
Who Needs Travel Insurance?
While you can purchase travel insurance for practically any type of trip, you may not always need it. Travel insurance is designed to reimburse you for financial losses due to unforeseen events. Since you can’t predict what might happen, there are a variety of reasons you might need travel insurance coverage. Travelers facing these circumstances could benefit from travel insurance.
You can’t afford to lose the money you’ve already invested in your trip. For instance, if you paid for expensive non-refundable reservations, a travel insurance policy will reimburse you for the loss.
Your destination is remote. If you’re traveling to an area where the nearest hospital or medical assistance is a significant distance away, a travel protection plan could help take care of an emergency.
Your companions are elderly or children. Elderly travelers and children are more vulnerable in the event of an accident or illness.
You’re facing uncertain circumstances. Before Covid-19 placed considerable restrictions and other uncertainties around travel, only 20% of travelers routinely purchased travelers insurance before a trip. Uncertain times mean travel is more likely to become restricted or canceled.
Travel Insurance Cost
You’re probably wondering: Is travel insurance expensive?
While getting the maximum coverage can seem costly, the amount of money you’ll spend paying for damages caused by a major event far outweigh the costs of coverage. The cost of your travel insurance can vary greatly depending on your needs and the specifics of your trip. These are just a few of the factors that go into determining the cost of your travel insurance policy.
Length and cost of the trip: Longer trips often lead to higher prices.
Cost of health care at your destination: High health costs in the area of your vacation destination can lead to higher insurance costs.
Pre-existing medical conditions you want covered: If you need coverage for additional health conditions, it will cost you extra.
Your age: Typically, older travelers will be required to pay more for coverage.
Amount or types of coverage you want: The more risks a policy covers, the more it will cost.
Travel Insurance for Safety and Peace of Mind
When you travel, you face a variety of unexpected potential risks. Like other types of insurance coverage, travel insurance is designed to provide a safety net against unexpected perils. It can provide protection for the many uncertainties you face during any type of travel. Avoid ruining your trip or facing serious financial losses related to difficulties while traveling with a travel insurance policy that provides the exact coverage you need. While you might not need insurance coverage for every trip, travel insurance provides security for expensive trips, travel out of the country, and other trips with potential variables.
EINSURANCE can help you find the best rates for the right travel insurance coverage for any trip. Compare policies and quotes online from a variety of national providers to get the very best coverage at the most competitive price.