Many travelers are hesitant to purchase travel insurances because they don’t understand the benefits. Whether you’re buying a bare-bones flight cancellation policy or a comprehensive travel insurance for seniors, it’s important to read the plan documents thoroughly to ensure that the coverage matches your trip needs.
The top travel insurances offer a variety of features that help eliminate some of the risks associated with international travel. These include:
Coverage for pre-existing conditions
Whether or not your pre-existing condition is covered in your travel insurance will depend on the policy you choose and how it defines pre-existing conditions. Typically, most policies define a pre-existing condition as any medical illness or injury that existed at the time you purchased your plan. This includes anything that you were treated for or diagnosed with in the past, including any conditions that are chronic and long-term (such as diabetes and COPD) and those that are acute and short-term (such as a broken leg or bronchitis).
Most travelers with pre-existing medical conditions are looking for a travel insurance policy that will cover them during their trip. Fortunately, many travel insurances offer a pre-existing medical condition waiver that removes the exclusion of coverage for any claims associated with your ongoing condition. The waiver allows you to recoup expenses for nonrefundable travel reservations and emergency medical costs such as evacuations.
Usually, in order to qualify for a pre-existing condition waiver, your medical condition must be stable for 60 days prior to the effective date of the policy. You may also be required to provide written physician statements or other forms of documentation in order to receive the waiver. Depending on the specific policy, some travel insurance companies will require you to meet certain age restrictions in order to qualify for the waiver.
In addition to being a travel insurance with pre-existing condition waiver, this plan also offers coverage for lost luggage and a rental car collision. You can purchase a policy with this option by selecting the “add coverage” button on the quote page or contact us for more information.
The Generali Pre-Existing Medical Condition Waiver does not cover any loss or damage caused by or resulting from a mental, nervous, or psychological disorder or ailment that is based on an addiction to alcohol or drugs. However, this is a great option for people who are traveling with chronic but well-managed medical conditions and provides much-needed peace of mind. It is important to remember that this waiver does not apply to travel medical coverage and you will still be required to satisfy the ACA requirements for travel medical insurance when you travel outside of the United States.
Cancel for any reason
A good travel insurance policy can provide a safety net for your trip and protect your investment. It can also cover medical expenses and lost or stolen luggage. It can even help you get back a portion of your nonrefundable trip expenses if you need to cancel because of an unexpected event.
Most comprehensive travel insurance policies include a Cancel for Any Reason (CFAR) option, which allows you to cancel your trip without having to give a reason. This option is often offered as an upgrade to comprehensive travel insurance plans or as a rider to other types of coverage, such as medical, trip interruption, and evacuation benefits. CFAR is a great option for travelers who want more flexibility and peace of mind when planning a trip.
Generally, the insurance company will reimburse you for a percentage of your prepaid, nonrefundable trip costs if you cancel within a certain time period before departure. This is typically around 48 to 72 hours before the trip start date. Depending on the policy, you may need to submit documentation of a covered reason for cancellation, such as a doctor’s note or financial default. Some insurers even offer coverage for work-related reasons. In the recent Covid-19 pandemic, some travel insurance providers added the ability to cancel due to fear of contracting the virus as a covered reason for cancellation.
Some credit cards offer travel protection benefits for their customers, and many cruise and tour operators will include a cancellation waiver in their booking fees. However, these are usually not the same as a travel insurance policy and may have different coverage limits. In addition, some of these policies do not cover pre-existing conditions or provide comprehensive trip cancellation coverage.
If you decide to buy a travel insurance policy with CFAR, it is important to consider your risk tolerance and the cost of your trip. In general, a CFAR option will add around 50% to the cost of your premium. In addition, the older you are, the more your CFAR policy will cost.
Most travel insurance policies have a review period or money-back guarantee, which gives you a window of time to change your policy. This review period varies by provider, but is usually between 10 and 14 days for comprehensive policies and single trip medical coverage. During this time, you can change your policy or request a refund by accessing the online policy management tool.
Coverage for emergency evacuations
Emergency evacuation is one of the most important coverages available in a travel insurance plan. It ensures that you will be transported safely from a remote location if you become seriously injured or sick on vacation. These services are extremely expensive, so you should make sure your travel insurance policy includes this feature. If your evacuation is deemed medically necessary by an attending physician, the insurance company will handle the process of transportation. It will also provide a guarantee of payment to service providers. Some policies offer high or even UNLIMITED amounts of coverage.
If you are hospitalized overseas and your attending doctor determines that you need to be evacuated, the cost of this can easily exceed tens of thousands of dollars. That is why many travelers choose to purchase comprehensive travel insurance plans that include coverage for medical and air ambulance evacuations. This type of travel insurance typically offers very high limits and is designed to protect travelers against the risk of having to pay for costly medical and transport bills that may otherwise go unreimbursed.
However, many travel insurance plans are limited in their ability to cover evacuation costs. In some cases, these limitations are due to the policy deductible and in other cases because of a number of exclusions, which vary by provider and policy. These exclusions can include not being medically fit to travel, a pre-existing condition, the commission of a crime or visiting a sanctioned or prohibited country.
The good news is that specialized travel insurances have been developed to address these limitations by combining the benefits of both medical evacuation coverage and a travel health insurance plan. These travel insurances are offered by a number of top-rated companies and are commonly purchased by expats, RVers, missionaries and other travelers who need more comprehensive protection while traveling abroad.
Another way to supplement a travel insurance plan with enhanced evacuation coverage is to join an emergency evacuation membership program. These plans are designed to improve upon the limits of most travel insurances, providing complete coverage worldwide. They also offer a variety of additional security, travel and other coverages.
Coverage for lost or stolen luggage
Travel insurance coverage for lost or stolen luggage is a great way to ensure that any items you may need for your trip are covered in case they get lost, delayed or stolen. This is important because it can be very expensive to replace items that are lost, damaged or delayed. Most comprehensive travel insurance plans include coverage for lost or stolen baggage.
If your bag is delayed en route to you, travel insurance can help pay for the essentials you need, such as toiletries and a change of clothes, until you receive your bag. The reimbursement amount will depend on how long the wait is, and the policy limits. You will typically need to provide receipts to claim this coverage.
Luggage loss can be a huge hassle and expense for travelers, especially if it happens in a foreign country where you may not have access to your credit card or bank account. In some cases, it can take days or even weeks to find a lost bag, and many airlines do not reimburse for the full cost of your luggage, particularly if your bags are delayed. Fortunately, most travel insurance plans will cover the cost of your lost baggage up to certain limits.
Some credit cards also offer coverage for lost or stolen luggage, but the coverage is often more limited and comes with a lot of exclusions. In addition, it’s difficult to find a credit card that offers coverage for the full value of your belongings.
Lastly, if your luggage is stolen while you’re on a plane or in a hotel, your travel insurance will typically cover the items that were inside the bag up to the maximum limit. However, if you have a high-value item in your luggage, such as a laptop, you will need to weigh the benefits of the extra protection against the risk of losing this item.
Before you purchase travel insurance, read the terms and conditions carefully to understand exactly what’s covered. Consider things like the per-item and total reimbursement limits, how depreciation is factored in, whether there are any excluded items (such as designer gear), and what’s required to file a baggage loss claim. If you want to maximize your chances of getting compensation for lost or stolen luggage, Tunnah recommends taking a photo of the contents of your bag and saving receipts. She also suggests packing light and leaving high-value items at home, if possible.
