Buy Travel Insurance
When a traveler books their flight, hotel or rental car online, they often have the option to add on trip insurance. Many of these plans are a great deal more affordable than if you purchased the insurance separately. However, it is important to read all the coverage details carefully and understand what you are purchasing.
Buy travel insurance, also known as trip protection, is a form of insurance that reimburses you for pre-paid travel expenses (such as airfare, hotels and rental cars) or medical expenses incurred while traveling. It can also cover other trip-related concerns, such as cancellations, delays or lost luggage. Most policies also offer a 24/7 customer service line in multiple languages and provide access to in-country medical resources. Some policies are single-trip only, while others are multi-trip and some can even be purchased for an entire year of travel.
While a traveler can purchase a standalone travel insurance policy, it is more common for credit card companies to include trip cancelation and interruption coverage with their cards. These plans are typically much more affordable than purchasing a separate policy and they also often come with additional benefits like emergency assistance services and rental car damage waivers. However, you should be aware that these policies do not cover all types of losses and that there are usually caps or limits on the amount that can be paid out.
Where Can I Buy Travel Insurance?
A traveler can also buy a travel insurance plan directly from an insurer or through one of the several travel insurance comparison sites available. These websites often use feedback from actual travelers to help filter plans and include ratings of the providers. Some of these sites also guarantee a free look period, during which a traveler can cancel their policy and get a refund if they decide they are not satisfied.
Finally, some companies that offer travel insurance through their web sites can only complete the transaction via the Internet, while other companies have Web sites that explain their products but require a fax or mail for applications and coverage confirmation. CSA Travel Protection, for example, began selling its coverage via the Internet in 1998 but still follows up with a fax or mail application when a traveler purchases their policy.
Depending on your individual needs, it may be best to purchase travel insurance either through a third-party site or directly from an insurer. Most travel insurance providers offer a variety of different plans with varying benefits and price points. For example, a policy from Allianz can be purchased for as low as $5 per day and includes a Cancel For Any Reason benefit, while World Nomads offers more comprehensive coverage with adventure sports coverage included. Also, when purchasing a plan, it is important to consider whether your existing health insurance or auto insurance coverage will work while you are traveling abroad and to be aware that most U.S. medical insurance does not work outside the country, except for a few very specific exemptions.
