What is Travel Insurance?
Travel insurance is a confusing subject for first timers, but don’t be set back. It’s only confusing because it covers a broad range of insurance. The 4 main categories of travel insurance are:
health insurance: This covers any sort of injuries, accidents, or hospital visit that occur while abroad.
Property and baggage insurance: This covers damaged or stolen goods while abroad
Trip cancellation: Just as it sounds, if any plans are interrupted, this will cover flight cancellations
Medical evacuation insurance: If you are seriously injured and need to be flown to a special hospital this will cover the bill.
To make sure you are getting covered for what you want, check with your provider.
Do I Need it?
Do you need it? No. Will it save your life one day? Maybe. Should you get it? YES! Traveling without insurance is a stupid way to get stuck in a difficult situation.
Everyone should get travel insurance and I’m not just trying to market something. Accidents happen all the time. You could get in a car crash, contact a foreign disease, fall while hiking and need a helicopter. These risks could cost you tens of thousands of dollars!
When I first went abroad to Thailand, it took less than a week to experience the benefits of travel insurance. One of my friends got food poisoning and was throwing up so much he had to be sent to the hospital.
I heard of another story of a friend was walking across the street— cars drive on the opposite side of the road in Thailand. They looked the wrong way and ended up getting hit by a moped and breaking an arm.
Blogger, Nomad Matt also shared many of his travel insurance stories. “I used it for a doctor in Argentina, when my camera broke in Italy, my eardrum popped in Thailand, and my luggage was stolen in South Africa. Each time I was reimbursed and made whole again.”
Frequently Asked Questions
What Does my Plan Cover?
Your level of coverage depends on your provider. If you are leaving for a trip, contact them and figure out what you are covered for. Also, check for any out of pocket costs!
I thought My Credit Card Insures me?
Some credit cards will insure you for stolen items, medical bills, and trip cancellations, but this will only be for a small amount. Their coverages are usually very low and don’t help.
Can Seniors Get Covered?
Seniors are considered high-risk investment, and thus are less likely to find coverage. But keep looking because some providers will, just not as many.