Travel Insurance covers you for medical expenses and financial and other losses incurred while traveling. There are specific kinds of travel insurance such as trip cancellation insurance or medical/evacuation insurance. In addition, there is the common and popular comprehensive insurance commonly known as a package plan. All the policies vary widely and may have different types of coverage and exclusions, but below are some of the common provisions.
A typical package plan will cover: trip cancellation, missed connections, lost baggage, travel delay, emergency medical treatment, theft of personal possessions and money, legal assistance, funeral expenses, return of a minor child, repatriation of remains, medical evacuation and 24/7 assistance. A typical package plan might cost between 5 – 7% of the cost of the trip.
Trip Cancellation/Interruption coverage will cover you if your trip is canceled for a variety of reasons such as weather, sudden illness or death, jury duty, emergency military duty, and bankruptcy of airline or cruise line prior to departure.
Travel insurance for medical emergencies will reimburse you for such things as the cost of doctor visits, medication, and sometimes even medical evacuation out of the country. In the past, I have used TravelGuard.