The Basics Of Travel Insurance


Travel insurance can help cover medical expenses or financial losses you might incur while traveling. It's often pitched as the best protection for those traveling domestically or overseas. This article will explain what kind of coverage you need before you sign on the dotted line and start paying for protection against the unforeseen and unpredictable.

What Does Travel Insurance Cover?

There are five main categories of travel insurance:

Trip cancellation

Travel medical

Major medical

Emergency medical evacuation

Accidental death/flight accident

Trip Cancellation Insurance

As its name implies, trip cancellation insurance (sometimes known as trip interruption insurance or trip delay insurance) covers you in the event that you or your traveling companions need to cancel, interrupt or delay your trip.

Policies differ in terms of which reasons are acceptable, but it's fairly typical for this insurance to cover cancellation or interruption for the following reasons:

Sudden business conflicts

Change of mind

Delay in processing your visa or passport

Illness or injury

Weather-related issues

Some policies may include additional coverage, which would insure you against one or more of the following events:

An act of terrorism

The vendor (cruise line, tour company, airline) going out of business

An accident on the way to the airport

Fire or flood in your house

Jury duty

The insurance pays the difference between the refund you get from the vendor and the amount you originally paid for the trip. Make sure the insurance you buy is not from the same carrier you purchased the trip from; that way, if the carrier goes out of business, you'll still be protected if something goes wrong during your trip.

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