What is travel insurance? Do I need it? Where can I get it?
These are all important questions that every traveler should be asking before embarking on an international (or domestic) trip. Whether you're traveling for a few days or several months, it's always best to be protected to some degree with travel insurance.
So do you need it? Mostly likely! (Note: If you're traveling with FTLO, then it is required.)
Travel insurance essentially protects you, your money and possessions in case anything *bad* happens. But knocking on wood won't quite do the trick, so read on to find out how travel insurance can protect you and where you can purchase it.
A BREAK DOWN...
WHAT IS TRAVEL INSURANCE?
Travel insurance is a protection package you can purchase through various companies that will protect you during your travels when...
Your flight is cancelled
You miss a flight connection
Your luggage is ruined, lost, or stolen
You lose your passport
A natural disasters occurs
You need to evacuate the region in an emergency
Dangerous attacks or war affects your destination
A medical emergency occurs
And travel insurance often provides 24/7 phone support for anything you need, anywhere in the world.
TYPES OF TRAVEL INSURANCE
Depending on what company you're purchasing through and their travel insurance packages, there are different levels of coverage. What you purchase will depend on what you think you'll need based on your budget, length of trip, and travel destination. Make sure that when you select a plan, you're aware of what is covered, and what is NOT.
Areas of coverage might include...
Trip protection (in case of flight cancellations)
Insurance for medical treatment and related transportation
Emergency medical insurance (including medical and dental)
Evacuation and repatriation
Protection for your luggage against damage, loss or theft
Keep in mind that each category of coverage can come with different maximum coverage amounts (like up to $200,000 for luggage, for example), so select a level of coverage that makes sense for you.
HOW DOES TRAVEL INSURANCE WORK?
In most cases, you will either be reimbursed for expenses or losses accrued (that fall under your plan), or your expenses will be paid upfront by the travel insurance company (again, only if your plan covers it). You will be required to provide documentation or evidence and you'll have to file a claim that then has to be approved by the travel insurance company before you can be reimbursed.
WHERE CAN YOU get TRAVEL INSURANCE?
First, it's good to find out if you're already covered through your auto insurance or credit card. Give your company a call and do some research to see what you're covered for.
In any other case, there are thousands of options available through comparison tools, agents, or companies that you can find online. Here are some to start your travel insurance search.
Travel Insurance Center
Good Neighbor Insurance
Popular Travel Insurance Companies:
Allianz Global Assistance
Though it may seem like just another expense added on to your travel costs, it's better to be safe than sorry and also to have peace of mind throughout your trip, so you can leave the stress behind and focus on the fun!