Should I Buy Travel Insurance?
You should consider buying Travel Insurance in the following scenarios:
You want to be confident travel help is ready and waiting if there is a travel emergency.
You want to protect your belongings in case of loss, theft, or damage.
You are afraid might happen to make you cancel or interrupt your trip.
You are worried about something happening at your destination
You are not sure what to do if you have a medical emergency while on vacation.
Also important to note: Travel insurance is already mandatory for many countries around the world so it is important to know before you go.
Here are the top reasons to get travel insurance
Trip Cancellation Coverage
Trip Cancellation provides reimbursement for prepaid and non-refundable trip payments if a trip is canceled due to unforeseen circumstances, including illness, injury, or death. Trip Cancellation is a pre-departure benefit that can reimburse 100% of a traveler’s trip cost if they need to cancel their trip for a covered reason. The most common covered reason is unforeseen illness, injury, or death of the traveler, a traveling companion, or a non-traveling family member. Other common covered reasons include terrorism, inclement weather, or a natural disaster, among others.
Emergency Medical Coverage
Emergency Medical can reimburse the costs to treat a medical emergency during a trip. The Emergency Medical benefit covers treatment for an unexpected illness or injury while traveling, however, this benefit will not provide coverage for routine checkups or physicals. There are two types of Emergency Medical coverage: Primary and Secondary. Primary coverage will pay a claim first, regardless of any other health insurance a traveler may have. Secondary coverage will pay a claim after a traveler has filed with their primary health insurance provider. Travelers are required to pay for medical care out-of-pocket, and then file a claim for reimbursement when they return home. In certain situations, a provider may pre-authorize payment of medical bills under the Emergency Medical benefit, but it is not guaranteed.
Medical Evacuation Coverage
Medical Evacuation can provide coverage for transportation of a traveler to the nearest adequate medical facility in the event of a medical emergency during their trip. Repatriation can transport a traveler’s remains back home.
Most policies with Medical Evacuation coverage will transport a traveler to the nearest adequate medical facility. If the treating physician determines they should return home to receive further medical attention, this benefit can also cover those transportation expenses.
Pre-Existing Condition Coverage
A Pre-Existing Condition is an illness or other medical condition that was treated, diagnosed, or changed during a policy’s lookback period. To determine what is considered a Pre-Existing Condition, providers look back between 60-180 days prior to the day the policy was purchased. If a traveler had any changes to their medical status during that period, including a new diagnosis, a decline in health, or a change in prescription, that condition will be considered pre-existing. Pre-Existing Conditions are typically excluded by travel insurance, but that exclusion can be waived by some policies. Pre-Existing Condition coverage is time-sensitive, meaning it is typically only available for 14-21 days after a traveler makes their initial trip deposit.
Cancel For Any Reason Coverage
Cancel For Any Reason is an optional upgrade that provides partial reimbursement for prepaid and non-refundable trip payments if a trip is canceled for a reason not otherwise covered by a policy. Cancel For Any Reason is a time-sensitive upgrade. Most policies with Cancel For Any Reason can only be purchased within 14 – 21 days of the first payment towards the trip. However, select cruise only policies offer Cancel For Any Reason anytime before a traveler has made their final trip payment. This benefit requires travelers to insure their entire trip cost, and will typically increase a policy’s premium by roughly 40%.To be covered under the Cancel For Any Reason benefit, a traveler must cancel their trip in its entirety at least 2-3 days before their scheduled departure date. Depending on the policy, this benefit reimburses 50% or 75% of the trip cost and requires the traveler to insure 100% of their prepaid and non-refundable trip costs
Trip Interruption Coverage
Trip Interruption provides reimbursement for prepaid and non-refundable trip payments if a portion of a trip is missed, or the traveler must return home early due to unforeseen circumstances, including illness, injury, or death.
Trip Interruption is a post-departure benefit that can reimburse a traveler’s unused trip costs if they need to interrupt their trip for a covered reason. The most common covered reason is unforeseen illness, injury, or death of the traveler, a traveling companion, or a non-traveling family member. Other common covered reasons include terrorism, inclement weather, or a natural disaster, among others. Trip Interruption will cover between 100% and 200% of the total trip cost, depending on the policy. This benefit may cover more than the total trip cost because it can cover additional transportation expenses incurred to return home. Some policies with Trip Interruption only provide coverage for a return flight home
Other Reasons To Purchase Travel Insurance
