Travel Insurance is needed for various risks that could occur when traveling.
Travel insurance is insurance that is intended to cover medical expenses, financial default of travel suppliers, and other losses incurred while traveling, either within one’s own country, or internationally. Temporary travel insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip, or a “multi-trip” policy can cover an unlimited number of trips within a set time frame. Coverage of travel insurance varies, and can be purchased to include higher risk items such as “winter sports” when you might go skiing.
Travel insurance can also provide helpful services, often 24 hours a day, 7 days a week that can include concierge services and emergency travel assistance.
Risks covered by Travel Insurance
- Medical emergency in the case of an accident or sickness.
- Emergency evacuation when the traveler needs spesialized care.
- Repatriation of remains in case of death.
- Return of a minor.
- Trip cancellation.
- Trip interruption.
- Accidental death, injury or disablement benefit.
- Overseas funeral expenses.
- Lost, stolen or damaged baggage, personal effects or travel documents.
- Delayed baggage and emergency replacement of essential items.
- Flight connection missed due to airline schedule.
- Travel delays due to weather.
Optional Travel Insurance coverage
Some travel insurance policies will also provide cover for additional costs, although these vary widely between providers.
Added to travel insurance, separate insurance can be purchased for specific costs such as:
- Pre-existing conditions (e.g. asthma, diabetes)
- Sports with an element of risk (e.g. skiing, scuba diving)
- Travel to high risk countries (e.g. due to war, natural disasters or acts of terrorism)
- Additional Accidental Death and Dismemberment coverage
- 3rd party supplier insolvency (e.g. the hotel or airline to which you made non-refundable pre-payments has gone into administration)
Travel Insurance exclusions
- Pre-existing medical conditions
- War or terrorism – but some plans may cover this risk, and some do cover for acts of terrorism
- Injury or illness caused by alcohol or drug use
Usually, travel insurance cover pregnancy related expenses, if the travel occurs within the first trimester. After that, travel insurance coverage varies from insurer to insurer.