People travel for all types of reasons. Whether you're planning your next trip to visit family members in another nation, jetting off on a much-deserved vacation, or preparing for important business travel, there's one thing you should never leave home without: specialized insurance that covers your needs as a traveler.
Travel and trip insurance policies help provide peace of mind. They can include different types of coverage to support medical emergencies, trip interruption or cancellation and an array of other situations that you may run into while away from home.
Before buying travel insurance, however, there are a few important things to know that will help you find the best travel insurance for your journey.
What is Travel Insurance?
The term 'travel insurance' is often used to describe any type of insurance for travelers. It's also used interchangeably with 'trip insurance'. Understandably, this causes some confusion. So, let's clear things up.
Travel insurance is a generic term describing all types of travelers insurance. But when travel insurance companies use the term, they're referring to medical insurance for international travelers. To simplify things, we'll refer to this as travel medical insurance.
What Is Travel Medical Insurance and How Does It Differ From Trip Insurance?
Travel medical insurance is perfect for international travelers, whether they're coming to or traveling from the U.S. It provides coverage for medical care for injuries or illness incurred after the policy's effective date. But it may also cover emergency medical evacuation, telehealth communication, and 24/7 emergency assistance.
Your domestic insurance may be strong while you're in your home country, but when you travel internationally, you'll need travel medical insurance to cover costs related to accidents, injuries, and emergency medical services needed while abroad. Some policies even cover acute onset of pre-existing conditions.
Trip insurance, on the other hand, helps travelers guard against unexpected expenses, and provides coverage for non-refundable expenses related to the trip itself. Most trip insurance plans include benefits like trip interruption, trip delay or trip cancellation for covered reasons.
Most trip insurance plans have some comprehensive coverage that includes some medical benefits. There are even trip insurance plans that include a pre-existing medical condition waiver, allowing you to cancel or interrupt your trip, and still recoup up to 100% of your trip costs if your pre-existing medical condition worsens.
There are also more specific travel medical and trip insurance plans, depending on your age and the type of trip you're planning. Here's a quick rundown of some of our most popular coverage options.
Ultimately, it is up to you to assess what your needs are when it comes to choosing the best travel insurance. Perhaps you are a senior who prioritizes more on your health, then you may want to consider a travel medical insurance plan. Or, maybe you are traveling and have a higher trip investment that you want to protect, then you may want to consider a trip insurance plan. Choosing the right plan for you allows you to travel with better confidence, knowing you are protected in case of an unexpected event during your trip.
What to Look for When Buying Travel Insurance
One of the best ways to find an ideal travel or trip insurance plan is to work with a travel insurance company or site like VisitorsCoverage where you can compare travel insurance and buy the best travel insurance for your needs from top insurers in the industry.
These comparison tools allow you to see plan details related to different types of coverage (including trip cancellation, trip interruption, Cancel for Any Reason Insurance, emergency medical evacuation insurance, short-term health insurance, green card insurance, student health insurance and more). Seeing all of your travel insurance options can help you find a policy that checks off all the boxes on your travel insurance requirements list. Here are some factors to consider when you review the plan details:
- Type of coverage: Make sure that the policy you purchase aligns with your trip. If you're traveling for business, for instance, look into a specific business travel insurance policy. Similarly, insurers also provide specific cruise insurance, or policies for specific destinations like Canada or Europe.
- Medical care coverage: Make sure your travel medical plan suits your personal health needs. A traveler with a pre-existing condition, for example, should select a policy that includes coverage for the acute onset of the condition. That way, if a sudden, severe medical event occurs while they're abroad, they can get the care they need and certain related medical expenses will be covered.
- Trip coverage with Cancel For Any Reason insurance: While most trip insurance plans do cover trip cancellation for specific covered reasons, these are usually limited to natural disasters or airline disruptions. When you add Cancel For Any Reason to your travel insurance, you'll have the freedom to cancel your travel plans for literally any reason. Whether you're concerned about Covid or just decide not to go, the Cancel For Any Reason (CFAR) benefit lets you cancel your trip and recoup certain prepaid travel expenses that would otherwise be non-refundable.
- Travel insurance cost and duration: Contrary to popular belief, trip and travel insurance doesn't have to be expensive. Paying a couple hundred dollars up front can save you from having to deal with medical and trip cancellation expenses that can cost thousands.
Read the details of each policy to make sure that you choose a policy that includes a sufficient coverage amount and will line up with the duration of your trip.
Trip cancellation plans, for instance, include specified coverage amounts (up to $1,000 for trip delay and $100,000 for trip cancellation, across a maximum 90 days of coverage). Frequent travelers can consider multi-trip or annual travel insurance, which can support coverage for several trips during a year-long period. You may also need to consider different policy maximums in order to find the right plan for your travel needs. - Buy travel insurance at the right time: It's also important to carefully time your trip or travel insurance purchase. If you've already booked a trip, but have yet to make your first deposit, you're in luck. This is an ideal time to buy travel insurance. Policies can vary, but some specify that travelers purchase their plan within a certain number of days after making their first trip deposit. Other plans enable coverage to be bought right up until the day of travel. Check the details of the policy to make sure you're buying at the right time.
Get the Best Travel Insurance For Your Travel Needs
Navigating travel insurance can seem intimidating, but in reality, it can take less than 5 minutes by using comparison tools to better understand and evaluate policies. That way, you can properly plan and focus more on your adventure.
Have any questions about finding the right travel insurance? Our team of licensed insurance experts is available to assist you throughout the process so you can find a plan that matches your needs.
Frequently Asked Questions (FAQs)
How much does good travel insurance cost?
A good travel insurance plan can cost about 4% to 10% of your total prepaid, nonrefundable trip expenses. The price can vary based on factors like your trip cost, length, age, destination, and any optional add-ons. For a modest cost, travel insurance can help protect you from major losses if your plans change unexpectedly.
How far in advance should I buy travel insurance?
Ideally, you should get a travel insurance plan as soon as you make your initial trip deposit. There are some time-sensitive benefits you might want to look out for, such as the option to add Cancel For Any Reason (CFAR) or qualify for the pre-existing condition waiver on trip insurance policies. These benefits are typically only available within 14-21 days of your initial trip deposit, but the exact timeframe depends on the policy you get.
Do credit cards offer travel insurance?
Many credit cards might have travel insurance as a “free” perk, but its coverage usually lacks compared to a third-party travel insurance plan. When comparing standard travel insurance to a credit card’s coverage, you get access to higher medical coverage limits, optional coverage for adventure activities and sports equipment, and trip cancellation coverage for a much wider range of scenarios beyond the standard reasons.
If I might need to cancel my trip, what kind of insurance do I need?
If you need to cancel your trip for those “just in case” moments in your life, adding Cancel For Any Reason insurance might be your best bet. It ultimately depends on what you are canceling your trip for, such as an illness or injury, which regular trip cancellation coverage can cover. Reasons like a fear of travel or worrying that something will happen while you are away are typically not covered reasons under trip cancellation coverage. However, adding Cancel For Any Reason to your trip insurance policy can recoup the majority of your trip expenses for literally any reason that is not defined by your insurance policy.
What does travel insurance usually not cover?
Typically, travel insurance does not cover the following:
- Changing your mind (unless you opted for Cancel For Any Reason (CFAR) coverage)
- Pre-existing conditions (unless you have a pre-existing condition waiver)
- Non-emergency or routine care
- Drug or Alcohol use
- Normal pregnancy
- Self-inflicted harm
Can I buy travel insurance after something bad happens at my destination?
Since travel insurance is designed to cover unforeseen events, the timing of purchase matters a lot. Once an event becomes “known” or foreseeable, for example, a hurricane that has been named, civil unrest that has begun, or a disease outbreak that has been declared, insurance purchased afterward typically won’t cover losses related to that specific event.
Do U.S. tourists get free healthcare abroad?
Even in countries with public healthcare systems, non-residents often don’t qualify for free or subsidized care, and may face long waittimes. Travel insurance with medical benefits can give you access to private care facilities and doctors who speak your native language. Some policies also include benefits that allow you to transfer to a preferred facility.
What documents do I need to submit a travel insurance claim?
The necessary documents you will need to file a travel insurance claim can be various items, including copies of your passport and/or US visa/entry stamp, itemized medical bills, and receipts. However, each provider may have slightly different steps. Typically, your insurance company will let you know which type of documents they expect, but if they don’t specify, check your policy or reach out to their customer service team for guidance. The more information or documentation you provide, the better. Keeping clear records and acting promptly can help the process go more smoothly.
