Financial
What is Travel Insurance?
Travel insurance covers medical expenses and financial losses, and other losses associated with traveling in one’s own country as well as abroad.
Travelers can usually arrange travel insurance when they book their trip to cover just the time they are gone; they can, however, purchase extended coverage from travel insurance companies, travel agents, or travel suppliers such as outfitters. While the coverage is the same, the most inclusive coverage comes from insurance companies.
Risks usually covered by travel insurance policies include:
• Medical expenses
• Emergency evacuation or repatriation
• Trip cancellation or interruption
• Accidental death, injury, or disablement
• Overseas funeral expenses
• Curtailment
• Delayed departure
• Loss, theft, or damage to personal possessions and money (including travel documents)
• Delayed baggage (and emergency replacement of essential items)
• Legal assistance
• Personal liability and rental car damage
Additional coverage available for additional cost includes:
• Preexisting medical conditions (i.e. diabetes)
• Sports with an element of risk (i.e. skiing)
• Travel to high risk countries (because of war, natural disasters, or acts of terrorism)
Ordinary exclusions:
• Preexisting medical conditions
• War or terrorism
• Injury or illness caused by alcohol or drug use