Last Updated on September 24, 2021
When you’re traveling, you’ll want to make sure that in the event of a medical emergency, theft, or accident that you’ll be covered and won’t incur any financial losses. Luckily, travel insurance exists, and it covers a broad range of things depending on the type of travel you’re doing and the type of traveler you are (e.g., an adventure traveler vs. a business traveler). Of course, your specific travel insurance (or any type of insurance you’ll need when traveling) depends on how long you’ll be traveling and where you’re going.
If you’re traveling to another country, you are definitely going to need travel insurance. It’s just that – travel insurance. Travel insurance policies are different, but most travel insurance covers the same things when you’re going to a foreign country. Most will cover accidents, cancellations, delays, emergencies, lawsuits, lost or stolen items, and sports activities (if applicable).
While it may not be needed often, medical insurance is one of the most commonly needed types of insurance that a traveler will need, and luckily, it’s included in just about every travel insurance policy. Depending on where you live, your current health insurance plan may already offer some type of coverage for your healthcare when you’re traveling. However, it is still a good idea to have extra coverage with travel insurance, just in case your health insurance provider doesn’t cover everything.
Personal Item Loss
Lost items at the airport are unfortunately pretty common, so you’ll want to make sure that you’ll be covered for any expensive items you may be at risk for losing during your travels. This type of coverage offered by most travel insurance policies also covers losses and/or stolen items throughout the entire duration of your trip, as opposed to just covering losses that occur at the airport.
If for some reason you can’t go on your trip, due to a medical emergency or any other reason (beyond your control), most travel insurance policies offer some sort of cancellation insurance. They may even offer what is known as interruption insurance, where you were able to go on your trip but not stay the entire duration. In this case, you’ll be reimbursed for the portion of the trip you weren’t able to complete.
Similar to trip interruption insurance, if the reason you’re not able to complete your trip is due to civil unrest, a natural disaster, or anything that requires you to evacuate, travel insurance policies should offer some sort of evacuation insurance. This will cover the cost it requires to relocate you to a safer environment.
Insurance protection tends to be a lot simpler when it comes to traveling throughout your own country. However, depending on how big your home country is, you may be eligible for domestic travel insurance. For example, if you live in the United States, you can get domestic travel insurance as long as you’re traveling outside of a 100-mile radius from your home. This makes sense, especially if you live in the contiguous U.S. and you’re traveling to the states of Hawaii or Alaska. Domestic travel insurance typically covers everything international insurance does.
One thing neither international nor domestic travel insurance covers is car insurance. This is a totally different type of insurance that many countries require for their citizens. When traveling domestically, you’ll definitely need car insurance if your country requires it. Car insurance usually covers injuries and collisions, but you can retrieve a quote to see what it would cost for the specific types of coverage you’ll need. In some cases, you’ll be able to get worldwide car insurance coverage, so you’ll be covered if you rent a car in a foreign country.
No matter where you go, the type of traveling you’re doing, or the type of traveler you are, it’s important that you’re covered when you’re away from home. Make sure to research different policies to make sure you get the most for your money.