|
 |
|
|
Types of Insurance
Following is a brief description of the different types of travel insurance options available. Note that every policy is a little bit different, so be sure to read the fine print carefully before purchasing any travel insurance.
  Trip cancellation/interruption insurance covers you if unforeseen events cause you to cancel or interrupt your trip. In general, this coverage is meant for illness, injury or death suffered by the insured or a member of the insured's immediate family. Some policies also cover cancellation in the event of illness, injury or death to the insured's travel companion. Most policies exclude trip cancellation in the event of war, civil disturbance or a change in your own financial circumstances. (Lose your job before your trip? You're probably out of luck.) Some policies also exclude travel to specific destinations which are prone to political unrest.
Many comprehensive travel insurance policies now include coverage if your tour operator defaults; however, it is important to understand exactly what is covered by your policy. If you buy a policy directly from a tour provider, usually it does not cover the default of that provider -- so it's usually a good idea to purchase your policy from an independent company. Some policies only cover tour operator default if the operator ceases operations entirely, which they may not do even if they file for bankruptcy.
Some travel insurers are now offering comprehensive "cancel for any reason" policies. You can find more information on several such policies at TripInsuranceStore.com.
 Medical insurance encompasses several types of coverage. Emergency medical evacuation insurance covers the cost of transportation if a qualified physician determines that you must be evacuated for medical treatment to the nearest medical facility or to the United States (if it's warranted), due to a physical injury or sickness. This insurance is highly recommended for cruise passengers and adventure travelers visiting remote areas.
For example, if you fall and are injured while trekking in the Himalayas, you might need to be evacuated by private helicopter, then airplane -- which can get quite expensive. Emergency medical evacuation back to the United States without insurance can easily cost $35,000 or beyond.
Other types of medical insurance include:
A telephone number/service you can call that will direct you to English-speaking doctors while you are overseas. In some cases they will also provide a physician monitoring service, where a qualified physician from the U.S. will monitor the treatment you are receiving by a local physician via telephone.
Cash payment to the insured or beneficiary in the event of accidental death, loss of sight or loss of limb.
 Reasonable expenses for repatriation of the insured's remains in the event of death.
Keep in mind that in nearly all cases you will need to pay up front for your medical services, and then your insurance company will reimburse you later, once you've made a claim.
Before purchasing a travel insurance policy with medical coverage, be sure to check what your regular medical insurance does or doesn't cover while you are traveling out of the area, particularly when traveling overseas. You should also consider the medical care offered at your destination. Many Western countries have excellent socialized medical care available and you may not even be charged for the care you receive. On the other hand, if you're in a remote area of a developing country and need to be evacuated for adequate medical care, the expenses can mount quickly.
Read the fine print regarding coverage or lack thereof for preexisting conditions. Generally any medical problem that arises within 60 days prior to purchasing the policy is not covered; however, there are some exceptions to this.
Baggage loss and delay coverage protects you in the event that your luggage is lost, delayed or stolen. This often includes a cash payment if your bags are delayed for more than 12 hours after you arrive at your destination.
Flight delay or cancellation insurance (sometimes called "travel delay") typically pays for accommodations, meals and new travel arrangements once you've been delayed a certain amount of time (often 6 or 12 hours -- read your policy carefully).
Travel document protection kicks in to help you replace a passport or other travel documents when they're lost or stolen.
|
|
|
|
|
|
|
 |
|
|
|
Share This Page:
E-Mail
Print
RSS
Save
|
