When you travel, you want to have a safety net to protect your assets if something goes sideways. When you’re spending a good chunk of change on exploring the world, knowing that your money will stay in your pocket is incredibly important if your trip goes awry.
Travel insurance will protect your investment in the event of an injury that requires medical attention, flight changes and cancellations, lost baggage, and many other issues that can cost you money. However, typical insurance that one holds is generally only valid within their home country, so if you experience an accident, you may only be covered for a minimal amount without travel insurance.
What Travel Insurance Includes
According to a 2021 survey, almost half of all US citizens have faced significant costs associated with accidents when travelling without travel insurance. Most travel companies, including Immersa Travel, offer travel insurance to protect their customers and their investments. Depending on where you’re going, there are different packages available that will cover everything from damage to property to even paying a ransom.
Be sure to read the fine print before purchasing any travel insurance, so you’re aware of the cancellation policy and any coverage limits or exclusions. There are 4 main categories of travel insurance:
- Trip Cancellation or Interruption Coverage
- Baggage & Personal Effects Coverage
- Medical Expense Coverage
- Accidental Death or Flight Accident Coverage
Your coverage will depend on the package you purchase, but generally, if you need to use it, you’re provided with 24/7 emergency services to sort things out.
Trip Cancellation or Interruption Coverage
Amidst the COVID-19 pandemic, many avid travellers are no stranger to trip cancellations. Trip cancellation insurance allows you to get reimbursed for a trip that has gotten cancelled, albeit being already paid for. However, be sure to note the applicable causes for the cancellation to ensure that you are fully covered in the unfortunate event this happens. Generally, trip cancellation insurance is valid for illness, injury, death in the immediate family, weather-related issues, or sudden business conflicts.
Baggage & Personal Effects Coverage
If you’ve ever had a bag go missing while travelling, you know how devastating it can be. Not only are you stuck on vacation without a change of clothes, but you could risk losing personal or sentimental items you’ve brought with you.
Baggage and personal effects coverage will protect you if your personal belongings are lost, stolen, or damaged while travelling. Some airlines will reimburse travellers if their bags are lost due to the company’s error, but it may not be for the full amount of what was lost. Having additional coverage means you’re fully protected in the event of a lost or stolen bag.
Medical Expense Coverage
One of the most common reasons for getting travel insurance is to protect your wallet if you hurt yourself physically. A hospital stay in some countries can be incredibly expensive, and some doctors may not even see you if you don’t have insurance and cannot pay for the treatment.
There are 2 types of medical coverage; short-term and major. These depend on the length of trip you’re taking, short-term for a few weeks or a few months, and major for longer trips for a year or longer. Having coverage can help you locate a doctor or healthcare facility and may even provide translation or service in your native language if you’re in an area that speaks a language you aren’t fluent in. Coverage varies by provider, so it’s important to look into the specifics if you’re planning a vacation that may involve some dangerous activities.
Accidental Death & Flight Accident Coverage
Accidental death coverage will pay benefits to surviving beneficiaries if an accident results in the death or serious injury to a traveller or their companion. Flight accident coverage offers coverage in the event of an accident or death that occurs during a flight on a commercial airliner.
Accidental death coverage may not be necessary if you have life insurance, but it may be beneficial to check your policy if you think something may happen to you while travelling.
Find a Plan That’s Best for You
Not all travel insurance policies are created equal, so if you’re planning a trip and want to be protected, it’s best to do your research. At Immersa Travels, we work with World Nomads to provide comprehensive, good-quality travel insurance to our travellers. However, we always recommend reading your policy carefully to ensure you know the situations you are and aren’t covered in. If you have any questions, we’re always here to help!