The current COVID-19 pandemic has put all of our travel plans on indefinite hold. The trips planned to celebrate anniversaries, attend graduations, vacation with the family, or to visit loved ones have all been either canceled or postponed. These changes to our plans can cause a level of uncertainty, and when we do start to travel again, we may all think differently about travel insurance, specifically in that it should have a place in our travel budget. Travel insurance can offer you peace of mind as you travel in our post-pandemic world.
A word of caution: Keep in mind that many plans have exclusions for pandemics, so be sure that the plan you purchase will cover COVID medical expenses or trip interruption.
That said, let’s get started.
Three Basic Types of Travel Insurance
There are essentially three types of travel insurance depending on your specific needs.
Medical Travel Insurance
The first type of travel insurance is Medical insurance. Most people do not realize that their medical insurance does not cross the United States border with them; when they leave, so does their insurance. Medical travel insurance can provide you with the coverage to replace or to supplement your regular medical insurance. Even if your insurance provides some coverage, we would recommend that you add more because in our experience, the only “insurance card” medical providers want is your Visa or MasterCard.
Medical travel insurance is actually very affordable. Typical plans can cover from $50,000 to $250,000 of medical expenses as well as from $250,000 to $500,000 of emergency medical evacuation. Plans also cover repatriation of remains, meaning that in the unfortunate event of the covered individual’s death, the insurance company will provide for the transportation of his body back home.
Have you been planning a large vacation complete with a huge price tag and you’re worried about not being able to take the trip and losing that money? Then trip insurance is for you. Trip insurance will reimburse you for the cost of nonrefundable deposits if you are unable to take your trip due to any number of reasons including, but not limited to, the following:
- Sickness, injury, or death of yourself or a close family member
- Residence Uninhabitable
- Traffic Accident
- Natural Disaster
- Jury Duty
In addition to an unexpected cancellation of your journey, trip insurance covers interruptions and delays in your trip as well. For example, if you become ill while on your trip and must stay behind, your trip insurance can reimburse you for the extra days you spend in a hotel before you can proceed on your trip or return home. CFAR (Cancel For Any Reason) policies allow you to cancel your reservations for reasons not typically covered in standard trip insurance policies.
The third type of travel insurance is International Insurance. This type of policy is for those who have no permanent home base (nomadic travelers) or those who live abroad for longer than 8 months. This coverage is permanent and ongoing with rates based on age and country of residence. The premiums for an international plan may be similar to domestic plans. Sometimes, people try to use travel insurance to cover these international needs, but that can be a big mistake.
If these choices seem overwhelming, don’t worry. Our expert insurance team is here to get you the coverage that you need for your upcoming trip.
Is Travel Insurance Worth It?
Travel insurance is well worth the expense and can save you thousands of dollars in unforeseen trip expenses in case of a mishap on your journey. Mistakes, cancellations, sickness, and medical emergencies happen, and travel insurance can grant you the peace of mind of knowing that you are covered should something go wrong on your trip.
With all types of travel insurance, you get what you pay for. If it seems too good to be true, it probably is. Many travel insurance companies are non-admitted carriers and they make their own rules and definitions, especially regarding pre-existing conditions. For example, a company may define a pre-existing condition as anything you’ve ever been treated for. One carrier has even defined a pre-existing condition as something you have, even if you don’t know you have it.
So please, don’t shop for travel and international insurance on the internet. Let us help you find the right travel insurance plan for your needs—always from a credible source and at a price that fits your budget.
We are currently offering a new travel insurance option from MedEvac Insurance. This is a great option not only for foreign travel, but also for domestic trips anytime you are more than 150 miles from home. Since there’s nothing like being home when you are truly sick—you want to be near your doctor, your hospital, and your loved ones—the MedEvac plan is the closest thing to clicking your ruby slippers and getting home when you really need to be there.
This short video by demonstrates just how valuable travel insurance can be:
Don’t Go International Without Coverage!
Are you traveling in the U.S. or abroad? Do you work or study overseas? Are you visiting the U.S. from outside the country? Whatever the reason behind your rovings, travel insurance lets you rest assured knowing you’re protected while you’re away from home.
To get a quote on travel insurance today, visit our Travel Insurance page. It’s free, easy and takes less than two minutes.
Or if you prefer, you’re always welcome to contact us directly so we can walk you through the process and answer all your questions. We’re always available and delighted to help.