Insurance Type || International Travel Insurance
All About International Travel Insurance
Travel insurance is short-term coverage that protects you from costs and losses that could happen while you’re traveling. You might not need travel insurance for short, cheap trips within your own country, but if something goes wrong while you’re traveling abroad, it could save you a lot of money.
Travel insurance might provide you with peace of mind when booking expensive international vacations and not knowing what the future holds. Travel insurance covers natural disasters, canceled flights, personal injury or illness, baggage loss, and a dozen more reasons your trip may be ruined.
Types of International Travel Insurance
Packaged travel insurance covers numerous categories. Customize terms and benefits. International travel insurance typically covers trip cancellation, trip interruption, medical expenses, and emergency medical evacuation. Most coverages are listed here.
Trip Cancellation Coverage
International travel insurance often covers trip cancellations. If you cancel your trip before departure, trip cancellation coverage reimburses pre-paid, non-refundable expenses. This includes non-refundable airline tickets, hotel reservations, cruise bookings, and other travel activities. Travel insurance does not cover cancellations. See below for “Cancel for Any Reason Coverage (CFAR).”
Also, Trip cancellation insurance only pays for covered reasons. Each insurance carrier outlines its covered causes, which usually only include unforeseen situations like family illness or death, job loss, unexpected weather events like hurricane damage to your destination weeks before your trip, and conflicts like jury duty.
Trip Interruption Coverage
Trip interruption coverage, like trip cancellation coverage, covers journey interruptions once you’ve begun your trip. Also, Trip interruption coverage pays for wasted time if something unexpected happens. Trip interruption insurance may cover last-minute flights home. Trip interruption insurance, like trip cancellation insurance, covers just certain travel alterations.
International Travel Medical Insurance
Your overseas travel policy may require travel health insurance. Health insurance plans rarely cover medical bills abroad. If you’re traveling abroad, you’ll need health insurance for medical emergencies and illnesses. The U.S. Centers for Disease Control and Prevention advise “getting travel insurance to insure yourself against accidents or illness while you’re abroad.”
Travel medical insurance covers emergencies, accidents, and evacuations. Even in countries with nationalized healthcare, paying for medical services abroad can be expensive. Make sure your plan covers pre-existing conditions.
International Medical Evacuation Insurance
Consider buying medical evacuation insurance if you’re going skiing, hiking, or climbing. Some travel medical policies include or sell this. In a remote or unfamiliar place, medical evacuation insurance can help coordinate care and transport you to a hospital.
Medical evacuation insurance may not cover skydiving, bungee jumping, or mountain climbing. Make sure you’re covered for harmful activities by reading the fine print. Make sure your insurer explains emergency coverage before you buy.
Cancel for Any Reason (CFAR) Coverage
Many travel insurance plans offer CFAR coverage for an additional price. CFAR coverage reimburses a percentage of non-refundable and pre-paid trip costs if you cancel. Epidemics, government travel bans, anxiety about traveling, and changing your mind are covered under CFAR policies.
CFAR coverage requires travelers to insure 100% of their trip costs and buy the plan within 10–21 days of their initial trip payment. If a trip is canceled, CFAR coverage pays 50% to 75% of non-refundable and pre-paid fees. Coverage requires trips to be canceled at least 48 hours before departure. Make sure your trip cancellation cause isn’t covered under your basic coverage to be paid for 100% of trip costs.
Additional International Travel Insurance Options
Travel insurance covers lost bags and delays, accidental death, dangerous activities like SCUBA diving, rental car coverage, and theft. If your flight is canceled or you miss a connection, some plans will cover a hotel room.
How Affordable is International Travel Insurance?
International travel insurance is cheap compared to the dangers of canceled vacations, medical emergencies, and other unforeseen events. Comprehensive travel insurance costs 4%–8% of a trip, according to the U.S. Travel Insurance Association. CFAR coverage adds 40% to travel insurance. The cost depends on the age and number of travelers, the length and location of the trip, and any additional coverage.
How to Purchase International Travel Insurance
After buying foreign travel insurance, compare plans on a travel insurance comparison site. Travel insurance policies vary widely in coverage, so choose one that meets your needs.
Check your credit card or health insurance coverage before choosing additional coverage. Just read the plan specifics carefully so you know what’s covered.
When to Buy International Travel Insurance
After booking your first flight, buy foreign travel insurance. Early purchase perks including CFAR coverage and pre-existing conditions waivers may apply. Some travel insurance plans can be purchased until the day before departure, but not while traveling.
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