Here’s what travel insurance covers

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If you determine that travel insurance is right for you, try to plan ahead. / Credit: Getty Images

When you’re preparing for a big trip, you’ll want to make sure you have all your ducks in line: passports ready, flights and hotels booked, itinerary mapped out – plus any necessary back-up plans. After all, any time you invest time and money into something, it’s worth having a backup in case things don’t go as planned.

That’s when travel insurance can help. Travel insurance can give you peace of mind and protect your wallet in case of an emergency, event or unforeseen situation. And the options are vast.

Most travel insurance policies are comprehensive and include an array of benefits for travelers. However, you can also choose a plan specific to your needs. If you want to purchase travel insurance, there are several online marketplaces available, so you can check out several plans at once. Simply fill in your traveler and trip information to view your current options.

What travel insurance covers

As mentioned above, travel insurance provides financial protection for travelers who may need to cancel their trip, receive medical treatment during their trip, and cover other losses (such as lost baggage or damaged items). ) or unforeseen events. “The most common benefits of a policy include coverage for travel expenses, medical emergencies, travel delays and baggage,” travel insurance company Squaremouth said.

Here is a breakdown of the different types of benefits and coverage that travel insurance can provide:

Trip Cancellation: This type of insurance allows travelers to potentially request up to 100% reimbursement of their trip if they need to cancel their plans for a long list of reasons covered. Medical care and evacuation: This type of benefit can help cover any costs that travelers may face if they become ill or injured and need treatment or assistance (such as an ambulance, a trip to hospital, etc.) while on vacation. Some countries even require this type of coverage, so be sure to do your research before booking your trip. “You absolutely must have medical evacuation insurance,” CBS News editor Peter Greenberg. previously advised. “If you become ill or injured outside the United States, it pays for you to be medically stabilized wherever you are and to get you home to a medical facility and doctor of your choice.” Delay: This one is pretty straightforward. This will reimburse you for any costs related to travel delays or missed connections (possibly meals, accommodation, transport, etc., depending on the specific plan). Baggage: If your baggage is lost, delayed or damaged in any way, then this benefit will allow you to be reimbursed for related purchases in the meantime. Accidental death: In the tragic event that a death or serious accident occurs during a trip, this type of insurance will provide a “lump sum payment”, says Squaremouth. Condition: Coverage for pre-existing conditions is usually not included in your travel insurance unless you specifically purchase a policy that lists it as an option. “A policy with the Preexisting Condition benefit can provide medical coverage for a preexisting condition in the event of an emergency during your trip, just as it would for a new medical condition,” SquareMouth explains.

If you don’t want to be limited to specific reasons listed under Trip Cancellationyou can then switch to the cancellation policy for any reason (just note that this can increase your premium by up to 50%, per SquareMouth).

If you determine that travel insurance is right for you, try to plan ahead. The sooner the better in most cases. Start now!

Trip cancellation can be purchased up to 24 hours before your trip. But coverage such as cancellation for any reason or pre-existing conditions must generally be locked in within 14-21 days of your original reservation date.

How to buy travel insurance

Buying travel insurance is easy. You can buy it with a click from the comfort of your own home when you use an online marketplace like Squaremouth, where you can compare travel insurance policies from several major US providers.

Travel insurance is usually only a small fraction of the total cost of your trip (about 5-10% of your total costs on average).

Just follow these steps to get a free quote and purchase a plan today:

Fill in your trip information (departure and return dates, destination) Fill in the traveler information (country and state of residence, citizenship, number of travelers and their ages) Fill in the trip cost information (if you wish to cancellation coverage, trip cost amount, date of deposit and if you have any payments left) Click on “Search Results” to view the different travel insurance policies you can get with your trip Evaluate the different policies travel insurance (click on “Full policy details”) and compare plansBuy the plan that’s right for you that best meets your needs and is the most cost effective

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