What is travel insurance and why do you need it?

July 1, 2016

What is travel insurance?

Travel insurance is insurance that covers losses incurred while traveling either internationally or within the country. Some examples of things covered by travel insurance include medical expenses, trip cancellation, lost luggage, and flight accidents.

Why is travel insurance necessary if its not mandatory?

People often think that travel insurance is an unnecessary expense because it’s not mandatory like car insurance. However, when you are traveling, especially internationally, prices tend to change and medical expenses as well as emergency medical evacuation expenses are often significantly higher.

In addition, there are many common scenarios you may encounter while traveling where travel insurance definitely will come in handy and save you a significant amount of money.

What does travel insurance generally cover?

The basic types of coverage provided with travel or vacation insurance include:a

– cancelled trips
– medical emergencies abroad
– emergency evacuations
– lost or delayed bags
– delayed flights
– phone assistance 24/7 worldwide

Additional coverage can include:

Life insurance- coverage for accidental death or dismemberment

Hazardous Sports- extends the medical coverage to cover activities like SCUBA

Rental Car Collisions- replaces your personal insurance or the rental company policy

Identity Theft– provides services to help in the event of identity theft while traveling.

Contributor: Smruthi