When traveling, everyone hopes for the most positive outcome. But it's also important to think about how you will deal with the unexpected. Even though it's not something we like to think about, accidents on the road, medical emergencies, or other disasters could cause significant financial losses. Fortunately, you can minimize these risks to stay on track and avoid any mishaps.
How does Travel Insurance work?
You can choose between a range of policies that cover different activities and trips. To ensure that you're covered, it's essential to select the right travel insurance plan for you and your budget.
Coverage for pre-existing conditions
Before approving a travel insurance policy, many companies review your medical history. The "look-back period" varies by company but is usually 90 days up to a full year. This is also important because you could be charged more if your condition was not disclosed during this period.
Flight cancellations and delays
The majority of comprehensive travel insurance policies cover cancellations or delays caused by illness, bad weather conditions or other unforeseeable circumstances. This coverage can be a lifesaver, as it can help you pay for a hotel room while waiting for your flight to rebook.
Emergency assistance for lost luggage
In the event that your bags are lost or you need medical attention in an emergency, you'll need to find the nearest hospital for treatment. Most comprehensive travel plans will cover these costs up to the limits of their policies.
Missed connection
A missed connecting flight when traveling can be a major problem. Trip insurance will cover missed flights, cruises and other transportation connections. You can get help paying for hotel rooms, meals or any other expenses you may incur until your flight has been rescheduled.
Emergency dental and medical care abroad
If you have a health insurance plan that covers you abroad, but you have to pay up front for a procedure or an overnight stay, your travel insurance policy can help cover the cost. The coverage you receive is supplemental, and it may not even be included in the insurance package. But it's still worth investigating.
Accidental death
If you have an accident while traveling, your travel insurance may cover the costs of funerals. It can also be used to get money returned to beneficiaries.
You'll need to provide documentation of your situation while filing a claim, such as a medical bill or a statement from your airline. The insurance company will then check your medical record and reimburse you.
Purchasing travel insurance at the same time as your tickets is the best way to ensure you get the coverage you need for your trip. This is especially true if you're going on a vacation or tour.
Online or direct from an insurance company, you can purchase travel insurance
Most major travel agencies sell policies, but you can also buy one from most supermarkets, banks or online retailers. You can purchase travel insurance in addition to other travel arrangements such as a travel package offered by an airline or agent.