What is Travel Insurance?
Travel insurance is intended to cover medical expenses, trip cancellation, lost luggage, flight accidents, and other losses incurred while traveling, either internationally or domestically. Travel insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip, or a “multi-trip” policy can cover an unlimited number of trips within a set time frame. Some policies offer lower and higher medical-expense options; the higher ones are chiefly for countries that have extremely high medical costs, such as the USA.
Why is Travel insurance important?
When you’re traveling abroad, your U.S. health insurance may not be adequate. Many foreign hospitals won’t accept it, and some ships’ infirmaries may not either. Travel insurance also covers the cost of getting home in a hurry, which other insurance options may not. Often, getting home in an emergency can cost up to $50,000.
Through cruise lines: If you choose this option, make sure the cruise is only brokering the deal; the insurance itself should be underwritten by an outside company. Through travel agencies: Their packages usually offer more features, such as better health coverage and higher spending limits. Through websites: International Medical Group offers different types of insurance plans to choose from.
The cost of travel insurance varies based on the length of time you will be gone. However, it is often a lot more affordable than taking the chance of leaving the country and getting hurt or sick. It also has the option to add in different types of emergency plans, such as natural disaster escape plans.