If you're planning a trip abroad, it's time to consider travel insurance options .
Travel insurance can save you not only from potential headaches, but also from having to shell out hundreds (or even thousands) of dollars out of your wallet. In addition, it is in demand in different countries.
Are you going overseas soon? Whether you're in the research phase or you've already booked your flight, now is the time to make sure you're covered. Here are three reasons to buy travel insurance .
3 reasons to buy international travel insurance
Travel insurance doesn't have to cost a fortune. It's entirely up to you. Typically, costs are between 5% and 10% of the total cost of your trip, depending on your needs, according to US travel insurance comparison website Squaremouth.
On a site like Squaremouth, all you have to do is enter your travel and travel information (destination, travel dates, etc.) and you'll find dozens of insurance options. If cost is an issue, you can sort the options from lowest to highest. Click here to get started.
However, international travel is more expensive than domestic travel, and the potential loss due to cancellations, delays or emergencies may be greater than losses due to domestic travel. In addition to the financial benefits, there are other reasons to buy travel insurance for a holiday abroad.
This can help cover the cost of emergency care . It can cover you if you want to cancel at the last minute . It can provide protection in the event of a nuisance or accident .
This is probably the best reason to buy travel insurance before traveling abroad, especially if you have health problems or plan to travel for a long period of time.
In fact, the US State Department encourages Americans to purchase health insurance when traveling abroad, as Medicare and Medicaid generally do not cover medical expenses abroad. If you have private health insurance, be sure to check your specific coverage or contact your provider to see if you are covered while traveling abroad.
Travel insurance plans are often comprehensive and include many benefits, but you can also include extras if you feel the need. Here is an overview of the best travel insurance companies. Start your search now.
The Centers for Disease Control and Prevention (CDC) specifically recommends travel health insurance and medical evacuation insurance so you don't have to pay huge medical bills out of pocket.
"Even if a country nationalizes health care, it may not extend it to non-citizens. Before you travel, consider insurance options if you need help during your trip," the CDC wrote on its website.
CBS News travel editor Peter Greenberg agreed that evacuation health insurance, which covers transportation costs (such as an ambulance or helicopter) or other expenses for people who are sick or injured and need to be transported to a medical facility while on vacation, is important. requirements of some travelers.
"You must have medical insurance to evacuate. If you become ill or injured outside the United States, you must ensure consistent medical care wherever you are and get you to a medical facility and a local doctor of choice, " Greenberg told CBS News . . in June.
This can cover you if you have to cancel at the last minute.
Trip cancellation is included in most comprehensive travel insurance plans. With trip cancellation insurance, you can claim up to 100% of your prepaid trip if you need to cancel your plan for one of the many covered reasons listed on your insurance policy. In most cases, you can add it to your flight up to 24 hours before departure.
There is a long list of reasons for the cancellation of a flight or event, such as unexpected injury, illness, bad weather or other circumstances beyond your control. Always carefully review the allowable reasons for trip cancellation agreed by your insurance company.
"Trip cancellation is the number one concern of most travelers. This feature protects travelers' financial investment in their trip by covering all non-refundable prepaid travel expenses. This can include any travel-related expenses, such as airfare, hotel accommodations, travel, tours, cruises, said Squaremouth.
If you think you have this coverage, start researching travel insurance options.
This is not the same as the Cancellation Any Reason policy which allows you to refund up to 75% of your non-refundable prepaid travel cost for any reason. If you are interested in this add-on, be prepared to spend the extra money: it can increase your square mouth premium by 40-50%. You must book it in advance (within 14-21 days after paying for the first flight).
It can provide protection in case of nuisance or accident
Besides the obvious (medical emergencies, flight cancellations), travel insurance can also cover your personal items or essential needs if your luggage is lost. This can help you get reimbursed for essentials while you wait for the airline to return your luggage, or even cover a loss or damage.
This may not seem like a big concern, but accidents do happen.
According to LuggageHero, citing data from the US Department of Transportation, in the first quarter of 2022 alone, around 685,000 bags were handled by the 10 largest US airlines. This number is even higher if all airlines in the world are taken into account. BaggageRihero explains that December can be the worst month of the holiday season for luggage-related accidents.
This type of insurance covers not only the duration of your trip, but also your trip as a whole. This is another feature that is often included in a travel insurance package. Just a quick check before you buy.
"Damage to baggage and personal property generally has a blanket coverage limit, as well as an item limit and an item-specific limit. Each policy describes specific items and often includes high-value items such as jewelry, electronics, cameras. Others, " Squaremouth notes. . We recommend that you separately insure high value items of $1,000 or more.
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