As you prepare for your next international trip, amidst the excitement of exploring new cultures and landscapes, it's essential to take some time to consider the necessary protection for yourself and your trip: travel insurance.
Travel insurance isn’t just for catastrophes or loss of valuable material possessions. Travel insurance also serves as a vital safety net, offering peace of mind and financial security in the face of unforeseen emergencies, particularly unexpected illnesses or injuries.
Depending on your eligibility and what degree of coverage you need, there are two types of travel insurance you should look into. In this comprehensive guide, we'll explore the importance of both trip and travel medical insurance, helping you understand why they're crucial for your next adventure.
What Type of Travel Insurance Do I Need?
There are two main types of travel insurance - trip insurance and travel medical insurance. Unlike standard trip insurance, which primarily focuses on financial reimbursement for trip-related expenses, travel medical insurance provides comprehensive coverage for medical costs incurred during your journey.
For travelers visiting countries with exorbitant healthcare costs, such as the United States, travel medical insurance is an absolute necessity. Without adequate coverage, even minor medical interventions can lead to substantial financial burdens, potentially derailing your travel plans and draining your savings.
Understanding the Basics: Trip vs. Travel Insurance
Before delving into the specifics of travel insurance, let's differentiate between trip insurance and travel medical insurance to understand their coverage and eligibility.
What Is Trip Insurance?
Trip insurance primarily focuses on financial protection against unexpected expenses that may impact your trip, in addition to standard medical coverage while traveling. Only U.S. residents or non-U.S. citizens traveling to the United States are eligible to purchase trip insurance, and coverage extends to both domestic and international travel for residents.
Key benefits of trip insurance include coverage for:
- Trip cancellation and interruption
- Accidents and sickness
- Travel delay
- Missed connections
Let’s imagine you are eagerly waiting for your flight to Orlando to catch a cruise when you find out that your flight is significantly delayed by the airline, causing you to miss your cruise. Trip insurance may help you get back on track by getting you on the next flight so you can head over to the next cruise port. Additionally, trip insurance can help recoup the prepaid, nonrefundable expenses that you weren’t able to use that day on your trip.
Trip insurance can also cover your medical expenses, however, it is often limited in the amount of coverage. Trip insurance is mainly designed to protect your trip costs, while still offering some coverage for a medical situation.
What Is Travel Medical Insurance?
Travel medical insurance, or visitors insurance, is a form of short term medical insurance for international travel, focusing on providing coverage for medical emergencies during your journey. From illness and injury to emergency evacuation, travel medical insurance ensures that you receive the necessary medical care for unexpected injuries and illnesses during your travels.
For international travel, it's essential to consider international travel medical insurance, also known as international health insurance. Designed to meet the unique needs of travelers venturing beyond their home country, international travel insurance offers comprehensive coverage for a wide range of unexpected events, including illness, injury, emergency evacuation, and natural disasters.
International travel insurance plans are available for individuals, families, and groups, catering to the diverse needs of travelers. VisitorsCoverage offers different plans with varying levels of coverage to fit any budget.
Key benefits of international travel insurance include:
- Medical coverage for new illnesses and injuries
- Emergency services such as hospitalization and surgery
- Emergency medical evacuation
- Prescription medication coverage
- Lost luggage reimbursement
Let’s imagine that you are on a trip to France, when you trip and sprain your ankle. Since your domestic health insurance may provide little to no coverage while traveling internationally, international travel medical insurance can help you in this case. Travel medical insurance can help provide emergency medical evacuation to the nearest hospital and help cover your hospitalization abroad.
Do I Need International Travel Insurance?
Travel insurance might just seem like an additional, low-priority expense for a trip that is already exceeding affordability. However, the last thing you want on a trip is to run into an emergency, be uninsured, and have to pay the entirety of the cost straight out of your pocket.
Medical emergencies can occur unexpectedly, posing significant financial and logistical challenges for travelers. Without adequate travel medical insurance, a simple visit to the doctor could result in significant financial strain. Travel medical insurance can offer protection for health-related emergencies for covered injuries or illnesses that occur while abroad. Meanwhile, trip insurance can help cover those costs related to your trip, while making sure you get coverage for medical emergencies.
Flexibility With Cancel for Any Reason (CFAR) Coverage
While your trip insurance will come with standard cancellation reimbursement for issues beyond your control like natural disasters or airline outages, only Cancel For Any Reason lets you cancel your travel plans for any reason and still receive some reimbursement for prepaid travel expenses. Whether it's a family emergency or you have a critical, last-minute business meeting to attend, you can cancel your trip with minimal financial loss.
Cancel for Any Reason (CFAR) coverage provides flexibility to cancel your trip for any reason and receive partial reimbursement for prepaid travel expenses. This feature offers peace of mind, allowing you to adapt to unforeseen circumstances or changes in travel plans.
Is International Travel Insurance Worth It?
Travel insurance can be a valuable investment for the following reasons.
Peace of Mind
Travel insurance provides peace of mind, knowing that you're financially protected against unforeseen emergencies. It allows you to focus on enjoying your trip without worrying about potential risks or expenses.
Risk Mitigation
While no one plans for emergencies, they can occur unexpectedly. Travel insurance serves as a safety net, reducing the financial burden associated with medical emergencies, trip cancellations, or lost baggage.
No US Health Coverage Abroad
It is important to note that most US-based health insurance plans will not offer coverage abroad. This can leave you vulnerable if you unexpectedly have to seek medical care for an emergency during your trip.
With short-term medical insurance for international travel, you can enjoy your trip knowing that if an injury or illness were to happen, you would have the coverage you need to protect against potentially high out-of-pocket medical expenses.
Mandatory Requirements and Visa Prerequisites
As you are looking at various plans, some of you might be wondering: is travel insurance necessary for international travel?
While not all, some countries have begun to mandate that visitors have travel insurance as a prerequisite for entry. For instance, qualifying for the Schengen Visa requires travel insurance with a minimum coverage of at least 30,000 EUR.
Failure to comply with these requirements could result in visa rejections or travel disruptions. It's imperative to familiarize yourself with the specific insurance prerequisites of your destination country to avoid any complications during your trip.
VisitorsCoverage Is Your Solution
VisitorsCoverage offers a range of international travel insurance plans designed to meet the unique needs of every traveler. Whether you're an individual, family, or group, there's a plan to fit your requirements and budget. With customizable options and varying levels of coverage, you can find the perfect plan for your next international adventure.
Have questions? Our Customer Success Team is here to help you through any questions or concerns you may have.
Frequently Asked Questions (FAQs)
Is pre-existing condition coverage available for an international trip?
Yes, many trip insurance plans offer a pre-existing medical condition waiver that way you are protected if you need to cancel or interrupt your trip due to a reason related to your pre-existing condition. There are certain requirements to meet the waiver, such as purchasing the policy soon after making your first trip payment, insuring the full cost of your trip, and being medically stable at the time of purchase.
Additionally, there are travel medical insurance plans that include strong coverage for pre-existing conditions, which is typically set to a maximum benefit amount in your insurance policy.
Does travel insurance pay for emergency evacuation back to my home country?
Yes, if you get severely injured in an area with inadequate health services or if it is deemed necessary to go back home, travel insurance can take you back home and help reimburse your unused expenses that you can’t get a refund for.
Does the insurance start the moment I buy it or the day my trip begins?
As long as your policy start date is correctly stated to the day you leave for your trip, coverage should start the moment you leave your home. This start date is important, that way you have ultimate coverage in case of any mishaps on your way to your flight or cruise, as well as potential airport situations like a trip cancellation.
However, something like trip cancellation coverage typically starts the day after your trip insurance purchase, so it is important to get your trip insurance early to have better coverage in case you need to cancel your trip.
If I need prescription medication abroad, will the plan reimburse me?
Yes, if you get unexpectedly sick or have an injury during your trip, travel insurance typically provides coverage if you need to get prescription medications. Oftentimes, you will have to pay for the medication up front, and then seek reimbursement through your travel insurance provider. However, some insurance policies have negotiated rates with certain hospitals to potentially give you a better deal for medication than someone who travels without insurance.
Is travel insurance more expensive for international trips?
Not really. The cost of your travel insurance is dictated by what it has to cover. If your trip costs more or you choose higher coverage limits, then your plan will reflect that. Since international trips tend to cost more and require higher coverage, your travel insurance can cost more. But, ultimately, your destination is not what directly affects the cost of your travel insurance.
Is there a limit to how many countries I can visit on one policy?
No, there is no limit to how many countries you can visit as long as your coverage start and end date is the moment you leave your home and when you leave your last destination to go back home. Typically, you want to list the country you will be spending the most time in on your insurance policy, but you will still be covered for the other countries that you decide to visit.
What is the claim process like?
Filing an insurance claim can be quick and easy. First, it is important to contact your travel insurance provider as soon as possible to get started. Make sure you have gathered all necessary documentation, such as receipts, medical records, or proof of cancellations, and submit a completed claims form along with these supporting documents online or by mail. Each provider may have slightly different procedures when it comes to the claims process, so it’s important to check your insurance policy, or reach out to customer service for guidance who are more than happy to assist you. Keeping copies of everything and acting fast can help the process go as planned.
For any guidance about filing a claim, our Claims Assist Specialists are available to guide you through every step.
How soon do I have to file a claim after something happens?
While it varies by policy, it's generally best to file a claim immediately after the incident to help prevent a denied claim. Most insurance policies typically allow you about 30 days to submit a claim. To avoid any complications, contact the 24/7 emergency services hotline on your insurance ID card when something happens and submit all required documentation within their specified timeframe.
