Travel Insurance Overview

Travel in ItalyOne of the most well-rounded types of insurance to secure before your next trip abroad is travel insurance. Whether you’re going overseas for business, school or fun, this policy can give you exactly the protection you need to make sure that you don’t accrue massive, unexpected bills due to delays, cancelled trips or stolen property.


Many people assume that travel insurance for international trips covers only the cost of a cancellation, but there’s a lot more to it than that. Here are five additional facts about this valuable protection.


One: Travel Delays and Missed Connections


There are many events that can conspire to delay your trip, through no fault of your own. Lost and stolen passports, a natural disaster, an injury or illness suffered by a travel companion, even your travel company can be at fault for a delay. Delays don’t just throw off your travel schedule, they can result in costly fees if you need to rebook, lose a night in your reserved hotel or reserve a night in a new hotel, and find alternate arrangements to get to your final destination.


While all of the above scenarios can affect the initial leg of your journey, they can also impact your ability to successfully make a connecting flight. That’s why many trip insurance policies cover that as well.


No matter your plans, you’ve made certain arrangements for your trip, and paid for them as well. When a travel delay or missed connection threatens those arrangements and results in additional fees, as long as the situation is covered under your policy, you won’t need to go over budget correcting for someone else’s error or a freak accident.


Two: Trip Interruption


Just as a trip can get cancelled or delayed due to injury, natural disaster, terrorist attack, or financial default of travel service provider, so too can a trip be interrupted by these incidents. And when your voyage is interrupted, it means you need to go home early at your own expenses, unless you have travel insurance for your international trip. With insurance, you only need to worry about the amount that falls into the deductible or that exceeds the policy’s limits.


Trip interruption is a powerful benefit because it covers many events that you may not realize. It provides amazing protection against the cost of interruptions caused by work reasons (for key employees), revocation of personal leave for active or reserve military personal, medical quarantine and more.


Three: Lost and Stolen Baggage and Baggage Delay


How much of a crimp would be in your plans if you lost your baggage? What if your luggage was stolen or loaded onto the wrong flight by airline staff? Your trip insurance can cover a certain amount of losses due to theft while luggage is stored in the hotel room. It also covers damage or loss to checked baggage, theft of certain business equipment and baggage that’s been delayed for 12 or more hours.


Four: Emergency Travel Assistance


You have road assistance for your car, so why not secure emergency travel assistance for your trip? This valuable service provided by your insurance carrier offers a resource to help you with prescription replacement, medical and legal referrals, lost document or luggage assistance, emergency travel arrangements, emergency translation and more. It’s like having a personal assistant around 24/7 to help you deal with the unexpected.


Five: Emergency Reunion


If you’re traveling with dependent children and grandchildren and something happens to you while you’re abroad, you may want the dependent to be sent back home early to be with family. Travel insurance can cover those costs up to certain, per-person limits. Additionally, it can pay for a family member to come stay with you if you’re hospitalized. It will also help cover costs for returning your remains.


Additional Considerations


Before you buy, remember that you must meet certain qualifications in order for the policy to be effective. First, it must generally be purchased at least 15 days before it’s used and you must have been medically able to travel on the date the insurance was purchased.


No traveller should go abroad without trip insurance coverage to protect his or her interests and savings. When you combine its coverage with that of an international health insurance policy, you give yourself the best defense against a host of travel complications.


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