travel insurance

What is Travel Insurance? Do You Need It?


by

21 October,2013

One of my favorite things to do is travel. One of the realities of travel, however, is that it can be uncertain. There are a number of things that can interrupt your trip. Whether it’s an illness, the death of a loved one, a car accident or bad weather at your destination, you never know what might go wrong.

While many airlines, hotels, rental car companies and other travel-related providers are willing to give you a break in price, or offer you a voucher for use later (depending on the circumstances), this isn’t always the case. In fact, there are times that no matter the circumstance, you might find yourself losing money due to the unforeseen.

Rather than lose out because of an unexpected event, some travelers like to buy travel insurance.

What Does Travel Insurance Cover?

Like many insurance policies, what is covered by travel insurance depends on the type of policy you get, as well as the amount of coverage you buy. Before you purchase the insurance, it’s important that you read through the policy and make sure that you get something that fits your needs.

There are some very basic travel insurance policies, like the trip insurance that you might buy when you purchase your airfare. These simple policies allow you to get your money back if inclement weather, illness, death, or some other approved difficulty prevents you from completing your trip. Luggage insurance policies can reimburse you if you lose your luggage and have to go to the expense of replacing certain items.

Other types of travel insurance are more comprehensive. You can get insurance to cover your cruise, and just about every other situation associated with travel. For the most part, these types of larger, more comprehensive policies are ideal for those who have planned a major vacation, and paid many of the costs in advance.

Some travel insurance policies also cover you if you get sick while traveling abroad. Your health insurance policy might not cover you while you are out of the country (check to make sure). If this is the case, travel insurance can ensure that you receive the health care you need while visiting other countries. You can also get evacuation coverage that will pay the costs of bringing you home from another country if you are sick or injured and need to return for proper care.

The most adventurous travelers often get emergency evacuation coverage. This type of insurance is designed to cover the costs associated with rescuing adventure travelers from extreme situations. If you think you might end up stuck at the top of a mountain, or lost at sea, you can buy coverage that can offset some of the costs associated with retrieving you.

Before you go on a trip, stop and think about your situation, and what might go wrong. If you are worried about losing the money you have pre-paid for a vacation, or if you think that you might need medical care or evacuation, you might want to buy some form of travel insurance.