Travel Insurance - what you need to know if you go on vacation




So, let’s talk about travel insurance also known as visitor insurance, emergency travel insurance, trip insurance and so on. Do you really need it?

The answer is- it depends… In certain cases insurance is not worth the cost. This is because the insurance is either unnecessary or the amount you pay does not justify the risk.

Before you decide whether or not to get travel insurance, let’s take a look at the travel risks and coverage available:



Let’s start with: 



·         Tripcancellation insurance – Reimburses you when certain circumstances prevent you from taking your trip—such as if your cruise line or tour operator goes out of business or if you have to cancel the trip due to sickness, a death in the family and so on. In addition, if you or an immediate family member becomes seriously ill or is injured during the trip most policies would reimburse you for the unused portion of the vacation.



Don't confuse trip cancellation insurance with the cancellation waiver that many cruise and tour operators offer. Compared to insurance, waivers might seem relatively inexpensive and they do provide coverage if you have to cancel the trip. However, they include many restrictions, they generally must be purchased at the time the trip is booked, and they will usually not cover you immediately before departure (the time period during which most people cancel) or after the trip has begun. Most importantly, because waivers are not insurance they are not regulated by state insurance departments. If your tour or cruise operator gets into financial difficulty, you may not be able to collect on the waiver.



·         Baggage insurance or personal effects coverage – Provides coverage if your personal belongings are lost, stolen or damaged during the trip.

Before purchasing this type of coverage, find out how much insurance the airline or trip operator provides for your belongings. Also check your homeowners or renters policy, which will usually provide coverage for off-premises theft, such as stolen luggage.

If you are traveling with expensive electronic equipment, jewelry or sporting gear, it might be more cost-effective to purchase a floater or endorsement to your homeowners or renters policy that covers these items. This would provide full coverage against loss of the item, anywhere in the world, as well as at home.

Some insurers also offer baggage delay insurance, which would cover items you need to purchase in case your luggage to hold you over in case your luggage is significantly delayed. Some travel insurance policies include this coverage at no cost when you get a medical travel insurance- you can explore some options on our site:




·         Emergencymedical assistance – Covers expenses related to medical crises, which can be very costly. Emergency medical assistance covers situations like: being airlifted off a mountain after a skiing or hiking accident; a prolonged period stay in a foreign hospital; or needing to be flown home due to a serious illness or injury.

Before purchasing this type of coverage, check with your own health insurance carrier to find out what type of coverage you have when traveling at home or abroad and what the limitations are.

Depending on where you're traveling, consider getting insurance enough to cover a flight home or to a country with first-rate medical care.



·         Accidental death provides coverage in event you or a family member dies during a trip. Depending on your life insurance plan or other financial provisions for your loved ones, this may be duplicate insurance.



Are there other types of travel insurance I should consider?

There are many other types of travel insurance—you can even get coverage for lost travel loyalty plan points. Depending on your destination and circumstances, you may want to consider the available coverage for:

·         Missed connection

·         Travel delay

·         Emergency evacuation

·         24-hour traveler assistance

·         Collision/damage coverage for rented cars



Before buying any type of travel insurance consider the risks and ask yourself- does it make sense to buy insurance or you can manage the loss otherwise? Choose your travel insurance based on what makes sense for your trip and your own finances It is obvious No one really likes paying for insurance, but when you need it I am sure you will be glad you bought it.



You can get an idea of how much travel insurance costs by using the comparison calculator link bellow: 
https://www.insubuy.com/?affiliateid=polyakov






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