When we bought our plane tickets for our vacation to Europe, we also bought Travel Insurance. This will give us cushion if something unexpected happens and we have to cancel our trip or cut our vacation short. This will also cover any emergency medical evacuations and other expenses not normally covered by our medical insurance. Before buying Travel Insurance, make sure you read all the fine print and understand what's covered and what's not.
Travel insurance can protect you from substantial losses that result from a variety of situations, including canceled trips, lost baggage, medical emergencies, supplier defaults, as well as other unforeseen circumstances.
TYPES OF TRAVEL INSURANCE COVERAGE
There are several general types of consumer travel insurance available. The coverage and limitations of each will vary depending on the insurance company issuing the policy. The following is a brief description of some of the general types of travel insurance.
Trip Cancellation: The most important and common type of travel insurance. Generally covers non-refundable payments or deposits if a trip is canceled or interrupted due to unforeseen circumstances.
Trip Delay: Provides reimbursement for expenses incurred when a trip is delayed.
Accident/Sickness Medical Expenses: Covers costs incurred due to injury or illness that occur while on a trip.
Medical Evacuation/Emergency Transportation: Covers transportation when a medical emergency while traveling requires transportation to a hospital or other medical facility.
Supplier Default: Covers deposits or payments lost due to the financial default of a travel supplier.
Baggage/Personal Effects Loss or Delay: Covers losses due to items lost, damaged or delayed during a trip.