Cheap Travel Insurance
What is cheap travel insurance? When people think about travel insurance what do they mean? Many people think it has something to do with getting your money back if you have to cancel your trip. Or it’s about getting help if you miss your cruise boat because your flight to the departure point was late or cancelled. Well all of these unfortunate and unforeseen occurrences are often covered by travel insurance but travel insurance also means a lot more.
So before you can really know if you have found cheap travel insurance you need to understand what travel insurance can cover, the options available and what exactly you need to have covered. Knowing this will allow you to intelligently compare travel insurance offerings to find the cheapest that meets all your needs.
The most common elements of a travel insurance policy usually include trip cancellation and interruption insurance. This is just what it sounds like and is what most people think of when they hear the term travel insurance. Next is travel medical insurance. This coverage is for necessary medical treatment when outside of the U.S. or whatever your home country might be. Then there is coverage for lost or delayed baggage. When you think about having to replace everything you plan on taking with you, you quickly understand the importance of this piece of travel insurance.
So how do you find the cheapest travel insurance? The best way is to investigate and compare. This may seem like a lot of trouble but you need to know what is and is not covered because not all travel insurance plans are the same. Generally vacation travelers will want a package plan because they bring all the important coverages together in one policy.
Package plans typically include:
- Medical coverage - This includes hospital and doctor expenses for covered illnesses
- Emergency evacuation/repatriation of remains - Don’t overlook the importance of this. This can very expensive if you ever need to be flown home for the proper medical treatment. Check the plan coverage for specifics but it may include the cost of a doctor to accompany an individual if medically necessary as well as other expenses.
- Accidental death and dismemberment coverage
- Last-minute trip cancellation (due to illness, inclement weather, etc.)
- Delayed or lost baggage insurance (including reimbursement for the replacement of essentials)
- Flight delay/cancellation insurance If your travel plans are delayed for several hours, the insurance company will cover hotel accommodations and meals while you wait, and make new travel arrangements on your behalf
- Trip interruption coverage If inclement weather, illness or injury cuts your trip short, you’ll be reimbursed for the unused portion of your trip
- Replacement of travel documents, belongings and money that is lost or stolen
- 24-hour concierge service (to help you find medical care, change travel plans, etc.)
The pure travel medical plans are most popular for individuals who will be out of the country for extended periods of time away from the coverage of their own health insurance. Senior travelers are also a large consumer of the travel medical plans. This is as a result of their age and susceptibility to medical problems but probably most importantly because Medicare coverage does not apply outside the U.S. except in very limited cases. In addition many Medicare Supplements don’t provide adequate coverage either.
Travel medical plans provide emergency assistance, medical coverage and emergency evacuation for those traveling abroad. Policies can be purchased for short trip (lasting only a few days) or long trips (lasting several years).
So before you can know if you have found cheap travel insurance you need to weigh your own needs and circumstances and evaluate the various alternative plans and rates to really find cheap travel insurance for you.