Travel Insurance

Trip Cancellation Insurance

Trip cancellation insurance, sometimes known as trip interruption insurance or trip delay insurance, reimburses a traveler for prepaid, nonrefundable travel expenses. Providers vary on acceptable cancellation and interruption causes and the amount of reimbursement available. The most common acceptable reasons include illness, a death in the immediate family, sudden business conflicts, and weather-related issues. Trip cancellation is beneficial when paying more upfront than what you’re comfortable losing. For example, if you pay $2,000 for a package tour and the tour’s cancellation policy stipulates that all but $100 is refundable upon cancellation, travel insurance will cover only the non-refundable $100. Also, there is no need to protect a refundable airline ticket.

Baggage and Personal Effects Insurance

Baggage and personal effects coverage protects lost, stolen, or damaged belongings during a trip. It may include coverage during travel to and from a destination. Most carriers, such as airlines, reimburse travelers if baggage is lost or destroyed because of their error. However, there may be limitations on the amount of reimbursement. Therefore, baggage and personal effects coverage provide an additional layer of protection. The possibility of baggage and personal belongings being lost, stolen, or damaged is a frequent travel problem. Many travel insurance policies pay for belongings only after you exhaust all other available claims. Your homeowners or renters insurance may extend coverage outside of your domicile, and airlines and cruise lines are responsible for loss and damage to your baggage during transport. Also, credit cards may provide automatic protection for things like delays and baggage or rental car accidents if used for deposits or other trip-related expenses.

Personal liability: If someone is injured inside your condo, liability coverage will help you pay for related legal and medical expenses.
Structural protection: If damage is caused to the walls (interior or exterior) of your condo unit by a covered peril, property protection coverage will help you pay for repairs.
Personal property: If your belongings (electronics, appliances, furniture and clothing) are stolen or damaged, condo insurance will help pay to repair or replace them.

Medical Travel Insurance

The two primary types of medical travel insurance policies are short-term medical and major medical coverage. Short-term policies cover a traveler from five days to one year, depending on the policy chosen. Major medical coverage is for travelers who are planning to take longer trips ranging from six months to one year or longer. Medical coverage can help with medical expenses, help to locate doctors and healthcare facilities, and even assist in obtaining foreign-language services. As with other policies, coverage will vary by price and provider. Some may cover airlift travel to a medical facility, extended stays in foreign hospitals, and medical evacuation to receive care. The U.S. government urges Americans to consult their medical insurance providers before traveling to determine whether a policy extends its coverage outside the country, as the government does not ensure citizens or pay for medical expenses incurred abroad. For example, medical insurance may cover the insured in the U.S. and Canada, but not in Europe. Also, some health insurance providers may require prior approval for coverage to remain valid. Before purchasing a policy, it is imperative to read the policy provisions to see what exclusions, such as preexisting medical conditions, apply and not assume that the new coverage mirrors that of an existing plan. Emergency medical coverage may be redundant. Most health insurance companies pay “customary and reasonable” hospital costs if you become sick or injured while traveling, but few will pay for a medical evacuation.