Whether you’re traveling to visit relatives or are headed out on that dream vacation, without travel insurance, even the smallest incident can result in serious inconvenience, struggle, and financial catastrophe.
While you’re away from home, just about anything can happen, from a stolen wallet to food poisoning. If you have coverage from travel insurance, you will have the coverage you need to have your personal belongings replaced, or to pay for medical expenses. It can also help to pay for replacement tickets for missed or cancelled flights, and other unanticipated events.
When you’re buying your travel policy, expect to pay somewhere between 4 and 8 percent of the cost of your entire trip – including the price of your transportation and accommodations. The actual policy cost will also vary depending on the length of your trip, which add-ons you choose for the policy, as well as your age.
As all policies are not created equal, make sure that you read it carefully so that you know what is covered and for how much. The typical coverage includes the following:
• Replacement cost of luggage that has been lost or stolen
• The cessation of operation by a travel supplier
• Expenses related to medical emergencies
• Emergency evacuation costs
• Costs of trip delays, such as from severe weather
• Cancellation of the trip
• Delays and damage caused by attacks by terrorists to a travel destination
Every policy provides coverage for a different combination of these unexpected events, but at the very least, make certain that it will provide you with emergency medical coverage throughout your trip.