What is travel insurance?
Travel insurance is a type of policy that reimburses you for money you lose from non-refundable deposits and payments when something goes wrong on your trip. These problems can range from lost baggage to flight delays to medical problems.
The more you’re spending on your trip, the more you likely need travel insurance. This is especially true for international trips and cruises, where travel problems become more expensive to solve.
What is not covered by travel insurance?
There are common things not covered by travel insurance. Make sure you read a policy’s exclusions so you’re not caught by surprise later. For example, a travel insurance policy could have medical coverage but exclude pre-existing conditions. So if an existing condition flares up during your trip, the travel insurance policy won’t cover it unless you purchased a pre-existing conditions exclusion waiver.
High-risk activities may not be covered, such as scuba diving. Nor are problems that happen because you were drunk or using drugs.
Medical tourism is also a common exclusion, so if you’re going abroad for a face lift, travel insurance won’t cover the hospital bills or aftercare.
I’m mainly concerned about getting sick while traveling. What insurance should I look for?
Travel medical insurance is available as a stand-alone plan or as part of a larger travel insurance package. It can pay expenses if you get an injury or illness while on your trip, as long as it’s a condition that’s covered by the policy.
If you’re concerned about COVID-19, check out Forbes Advisor’s ratings of the best pandemic travel insurance.
Do I need travel insurance for a cruise?
Travelers on cruises can potentially lose substantial money, just as much as a traveler on land. Cruise insurance can cover problems such as bad weather that causes a trip delay, or an illness that prevents you from traveling.
Is there travel insurance for multiple trips?
While standard travel insurance plans are meant to cover one-time trips, frequent travelers should consider an annual travel insurance plan. These plans cover the same issues as a single-trip plan, such as trip cancellation and emergency medical situations. But they also offer the convenience of a one-time purchase for multiple trips.