What Is Travel Insurance? Everything You Need to Know

What Is Travel Insurance? Everything You Need to Know

Exploring the world can provide many exciting, rewarding experiences, but travel does come with certain inherent risks. So how can we travel the world safely?

Travel insurance is a vital safeguard for any traveler to protect themselves when they are away from home.

What Is Travel Insurance?

Travel insurance is an umbrella term for short-term insurance that can cover you during a trip. Travel insurance includes two main categories of insurance: travel medical insurance, also referred to as international medical insurance or visitors insurance, and trip insurance.

Both travel medical insurance and trip insurance can offer protection for your scheduled trip, but they have varying benefits.

Trip Insurance Coverage & Benefits

Trip insurance can offer coverage for prepaid and nonrefundable travel expenses for things like your hotel, accommodations, and tour reservations if you need to cancel, interrupt, or delay your travel plans for a covered reason.

For example, if you're forced to cancel a trip due to a covered reason like a natural disaster, trip insurance can help you recoup some financial losses. Trip insurance can also cover things like delayed, damaged or lost baggage, accident and sickness, or lost passports.

Travel Medical Insurance Coverage & Benefits

Travel medical insurance, sometimes referred to as travel health insurance, visitors insurance, and international travel insurance, can cover unexpected medical costs incurred while abroad.

Your home country's health insurance may cover medical events incurred through domestic travel, but it won't protect you in foreign countries. If you have an accident or injury and need medical care while abroad, you could be forced to pay medical care costs out of pocket.

Spending a little money up front on travel medical insurance can save you literally thousands in medical fees and ensure that you receive quality medical attention immediately.

Visitors to the United States, where medical costs are notoriously high, will find travel medical insurance particularly beneficial. These types of plans can also be helpful to new immigrants who don't have permanent healthcare parents visiting their children in the U.S.

How Much is Travel Insurance?

The cost of your travel insurance policy will depend upon many factors, including which type of plan you opt for. This can include things like the type of policy, duration of your trip, travel destination, your age, add-on coverage, and more.

Learn more about the cost of trip insurance and travel medical insurance.

Additional Benefits of Trip and Travel Medical Insurance

Although many people think of travel insurance as limited to reimbursement for canceled plans or medical bills, it actually encompasses a number of different features. 

Some common benefits include financial protection expenses incurred from lost passports and luggage as well as coverage for replacement eyeglasses if yours are lost or damaged during your trip.

Here are some lesser-known benefits of buying travel insurance. These are usually considered add-ons to the basic trip and travel medical coverage we outlined earlier.

  • Multi-trip insurance: Certain plans can cover multiple trips within a one-year period. Business travelers and anyone else who frequently travels internationally may benefit from multi-trip insurance.
  • Cancel for Any Reason travel insurance: While most trip insurance plans have a built-in benefit that covers trip cancellations for reasons beyond the traveler's control, like natural disasters or airline issues, this CFAR add-on can cover certain prepaid travel expenses if you decide to cancel for literally any reason.
  • Border entry protection: Did you know that even if you arrive at a U.S. border with a valid visa, you're not guaranteed entry? If you're turned away at the border, plans like Cover America-Gold can help with the financial burden of getting back home sooner than anticipated.
  • Repatriation: One of the hardest benefits to think about is repatriation, or the return of mortal remains. If you or one of your traveling companions were to pass away far from home, it can be very difficult and expensive to transport the body home to be laid to rest. Repatriation coverage helps with the cost of returning mortal remains of a person to their homeland. This benefit's required for those applying for a Schengen Visa.
  • Adventure sports optional riders: If you plan on participating in exciting activities like river rafting, skiing or mountaineering on your trip, you may want to purchase an additional adventure sports rider that will cover you if you're injured during some of these more risky activities. 
  • Kidnap and Ransom insurance: Unfortunately, some areas of the globe are more dangerous than others. In certain places, there is a real threat of kidnapping. If you are kidnapped, you or your loved ones may be asked to pay a ransom or hire lawyers and negotiators to return home safely. Sometimes known as K&R, Kidnap & Ransom insurance protects you and your loved ones against the debilitating costs that can be incurred to get a kidnapping victim home safely.

How to Get Travel Insurance

Travel insurance can easily be purchased online through VisitorsCoverage. It is recommended to compare plans and find the coverage that best suits your overall needs, whether that be a trip insurance plan or a travel medical insurance plan. 

How Does Travel Insurance Work?

Securing travel insurance should be done ahead of your trip plans, at least 24 hours before your scheduled trip. Depending on the type of travel insurance plan you choose, how exactly your plan will work will vary.

For trip insurance, you will insure all of your nonrefundable and prepaid expenses when you purchase your plan, and can file a claim for reimbursement if your trip is canceled, interrupted, or delayed for a covered reason. Additionally, claims can be made for medical expenses related to an accident or sickness that occurs during your trip or for other benefits such as lost baggage.

For travel medical insurance, you can purchase your coverage and have peace of mind knowing that if you are injured or become ill during your travels, you can submit a claim for your medical expenses.

Find Travel Insurance Coverage Today

Finding the right travel insurance policy for you and your loved ones can give you peace of mind so you can focus on acing that overseas business presentation, reuniting with your children, or creating amazing memories with your loved ones.

Secure Travel Insurance Through VisitorsCoverage

VisitorsCoverage is a trusted online travel insurance marketplace where travelers can get travel insurance reviews, compare travel insurance options and ultimately find the best travel insurance for their needs.

We know how confusing travel insurance is. We also know it doesn't have to be. If you have any questions or concerns, reach out to our Customer Success Team for friendly assistance.