What Is Travel Insurance?

Travel insurance can help cover your expenses while you’re away from home. Travel insurance protects you from unexpected expenses, such as emergency medical expenses, trip interruption, baggage loss and delay, and accidental death. Understanding the differences between trip cancellation and trip interruption coverages is important.

Travel is exciting, and insurance is boring. But the two go together. Imagine your next trip is canceled because of bad weather, your wallet is stolen, or a medical emergency. You don’t get to choose when these things could happen, but you get to choose if you get travel insurance. And no matter what kind of trip you’re going on, travel insurance helps you prepare for everything.

Travel insurance is peace of mind. It’s that little bit of coverage in case something happens while you’re on vacation. Whether it’s a medical emergency, lost luggage, or flight delays, travel insurance gives you the assurance that most credit card companies and airlines don’t offer. And unlike credit cards, travel insurance is inexpensive.

What Are the Covered of Travel Insurance?

Travel insurance isn’t going to protect you from every possible scenario, and there are some scenarios it won’t cover. But it’s always better to be safe than sorry, so it’s important to know the coverages of your travel insurance. Some insurance companies provide insurance coverage if you’re stranded and can’t fly home or if your bags are lost or stolen, for example. Others will pay for transportation to and from the airport if you’re unable to fly.

  1. Canceled trips – Travel insurance covers you for any unexpected costs that may come up when you are unable to travel as planned. If you need to cancel your trip, your travel insurance can cover your cancellation fees. It’s possible for you to have to cancel your trip due to unforeseen circumstances, such as being hospitalized or getting sick. If an event like this happens, your travel insurance may help you cover any necessary costs and medical fees.
  2. Medical Emergencies abroad – Travel insurance isn’t just about saving money on flights and hotels; it’s about protecting yourself from unforeseen events while away from home. While you’re on vacation, the last thing you want is an unexpected medical issue. Fortunately, the coverage you receive from your travel insurance company should cover the cost of most medical emergencies abroad, which can include everything from heart attacks to car accidents and food poisoning to losing the luggage that you planned to pack. Your travel insurance policy can also cover the costs of renting wheelchairs and scooters to get around if you’re unable to walk.
  3. Emergency evacuations – Travel insurance with evacuation coverage is a must for those who plan to travel to remote or dangerous locations. Knowing the coverage will help you think through additional coverage, such as medical coverage, that you may need. These coverages typically cost extra but can be very useful if you are injured or need to evacuate from your hotel or destination because of an emergency.
  4. 24/7 Phone Assistance worldwide – Did you know that most travel insurance plans do offer 24/7 phone assistance? While this seems like a trivial aspect, some travel insurance plans don’t offer this, which can mean the difference between staying home and going on your dream vacation.

Travel Insurance and Life Insurance are two of the most important policies you can have. Not only do they cover you on your trip, but they also ensure your family is covered in the event something happens to you. The thought of traveling sometimes has us feeling stressed because we know how expensive it can be. We all want to take that long-awaited trip, but often the price is a bit out of reach.