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Best Travel Insurance Of 2021 | How Travel Insurance Work? When To Buy Travel Insurance?

 

We've all heard about cancelled flights and lost baggage, but most of us don't automatically think "do we have insurance and are we covered?" Travel insurance helps protect you from certain kinds of unexpected events that can occur before or during your trip.

Unlike auto insurance, travel insurance is elective, which means it's up to you to decide if you want it. Ultimately, it's meant to help you travel with more peace of mind so you can worry less and focus on having a great trip.

What does travel insurance cover?

The coverage that most people are aware of is a trip cancellation, which provides reimbursement for unused, non-refundable, prepaid trip costs if you need to cancel your trip for a covered reason, such as sickness, job loss, flight cancellations due to adverse weather and more. Similarly, with coverage for trip interruption, you can recoup trip costs if you can't continue your trip due to a covered event, and our plans provide reimbursement for additional transportation costs to return home or rejoin your group.


Some of the risks covered under Travel Insurance are:

Personal Accident Cover, which covers:

Insured's Death

Permanent Total Disability

Accident & sickness medical expense reimbursement

Dental treatment relief

Emergency evacuation

Repatriation of remains in case of death

Baggage delay

Loss of checked baggage

Loss of passport

Flight delay

Hijack

Home burglary

Trip curtailment

Trip cancellation

Missed connection/missed departure

Bounced hotel/airline booking


There may be more risks covered under individual policies depending on the requirements of the traveller. The amounts to which these risks are covered depends on the policy & plan that the traveller opts for. Travel Insurance also covers additional risks at an additional premium. Some of these risks are specific to the traveller or the place the person is travelling to.🤣🤣

Travel insurance can also include lesser-known elements including travel delay, lost, damaged and delayed baggage, medical and emergency evacuation coverage. Different providers offer different plans with a mix of these coverages and more, so be sure to educate yourself about all the options before choosing one. One way to tackle this is to determine your specific needs and find a plan that fits. Don't be afraid to ask your travel insurance provider if you have questions.

Let's use an example. If you are taking your family on vacation to Paris, then you would probably want a plan that included coverage for trip cancellation and post-departure coverages during your trip. These may include Baggage, Travel Delay, Medical and Dental, and Emergency Assistance and Transportation.


How does travel insurance work?

The process for filing a travel insurance claim is similar to a car or home insurance. If you get in a car accident or have a water leak in your bathroom, you file a claim.

If something happens during your trip and you need to use your travel insurance, you'll need to file a claim to be reimbursed. We have a page that explains how to start a claim, a great resource for learning more about the claims process.

Let's say your baggage is delayed and you need to buy clothes and toiletries, you would submit a claim to seek reimbursement. Travel insurance comes in handy in scenarios like this.

When you're ready to buy a plan, you can purchase directly from the travel insurance company online. Oftentimes, travel insurance is offered when buying a cruise, airfare or booking a vacation rental. We encourage customers to pay attention to the fine print. For example, a cruise line's travel insurance may not pay cash to cover a cancelled or interrupted cruise, but instead, offer credit towards a future cruise. If you prefer cash reimbursement, that's reason to consider purchasing direct from a travel insurance provider instead. Also, consider the type of trip you are taking. If you are taking a cruise, then you may want a plan that includes Missed Connection coverage, as our plans do.



When to buy travel insurance

As with all things in life, timing is everything, especially when it comes to deciding when to buy travel insurance. Travel insurance is designed to protect you against unforeseen events, which means it is meant to be bought before an event occurs. For example, you would not want to buy travel insurance after you decided to cancel a trip, for the same reason that you can't buy car insurance to cover an accident that has already occurred.

It's best to buy your plan when you book your trip so you are eligible for coverages that apply prior to departure. For example, if you break your leg and need to postpone hiking in the Alps, then you could be covered.  



KEY TAKEAWAYS

Many companies selling travel packages also offer travel insurance.

Some travel policies cover damage to personal property, rented equipment, such as rental cars, and even ransom requests.

The main categories of travel insurance include trip cancellation or interruption coverage, baggage and personal effects coverage, medical coverage, and accidental death or flight accident coverage.

Coverage often includes 24/7 emergency services, such as replacing lost passports, cash wire assistance, and re-booking cancelled flights. 

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