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Travel InsuranceMany people do not even think about travel insurance even when flying in an airplane, but it's something that everyone should think about when traveling. No matter how safe the mode of transportation may be, there is always the possibility of unforeseen circumstances. You need only to read the newspapers at the number of airline crashes, train wrecks, and bus accidents to understand the importance of having travel insurance for the times you are traveling away from home.Most people think of travel insurance in terms of insurance in case of an accident while physically traveling such as in a plane, train, or bus accident, but that is only one part of accidental death and dismemberment. In addition, several other types of travel insurance are available as well. Accidental Death & Dismemberment (AD&D) pays the insured or beneficiary when an accident occurs that causes death or the loss of a body part. Flight insurance is only one type of AD&D, but the broadest form is a 24-hour type that pays as long as the insured is on a covered trip at the time death or dismemberment occurs. Policies vary in regards to coverage for terrorism, but most do not cover acts of war or nuclear, chemical, and biological attacks. Some policies will waive the exclusions for a rather high fee. Trip Protection Plans usually reimburse any non-reimbursed travel expenses that occur because of an emergency that occurs right before or during your trip that causes it to be canceled, interrupted, or delayed. Trip Protection Plans also usually cover travel assistance, lost or damaged baggage and minimal coverage for any medical expenses that you incur. A traveler usually purchases this type of coverage on a per-trip basis, but you can sometimes purchase it on an annual multi-trip basis. They offer the same coverage as single-trip with the exception of trip cancellation coverage. International Medical Insurance reimburses you for medical expenses that you incur while traveling or living in a foreign country for two weeks up to a maximum of two years. Maximum policy coverage can be up to $1,000,000 in order to cover major medical expenses such as emergency surgery and lengthy hospital stays. Annual Medical Insurance is international medical insurance that has a maximum policy coverage level of up to $5,000,000 and more comprehensive coverage such as life insurance and higher AD&D limits with an option to add daily indemnity for hospitalization for an additional premium. Emergency Medical Evacuation protection pays the cost of transporting a seriously injured or ill person to a medical facility, a hospital near home, or the hospital of their choice, contingent upon the plan. This type of travel insurance is usually included with both international medical insurance as well as travel protection plans; however, it can also be purchased separately. International Major Medical Insurance takes the place of domestic health insurance or the national health care system. Some plans cover you in the United States and Canada as well as the rest of the world, but others exclude the United States and Canada. Other options for travel insurance may also exist, but you will need to investigate those at the time. It is, however, essential that you purchase travel insurance when you travel, especially if you do so extensively and for long periods. Be certain to check any exclusions so that you can purchase those separately if you so desire. |
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