Q: When should I consider buying travel insurance, and what does it cover?
A: Buy travel insurance when you’re poised to spend a lot of money on a trip that might be non-refundable if something dramatic happens in your life. If you break your leg or experience a death in your immediate family, you may have to cancel a long-planned trip. In those cases, policies will reimburse you a percentage of money you advanced for, say, a cruise or the rental of a vacation home.
Travel insurance can also be of assistance if something goes wrong while you’re on your trip. Basic coverage usually includes reimbursement for lost luggage, costs associated with a flight delay, and some medical insurance. Coverage can be for a week or months if you’re planning a long trip.
Several important things to remember. First, you often must purchase travel insurance very soon upon booking your trip. Second, pre-existing medical conditions may void some of your medical coverage. Finally, read the fine print. Does “medical evacuation” cover only a taxi to the nearest hospital, or does it include airfare or even a medically equipped private jet to take you to the hospital of our choice? Can you cancel if there’s an act of terrorism at your destination? What if you lose your job and want to cancel your trip?
Numerous travel insurance companies offer various levels of insurance depending on how much coverage you want. To comparison shop packages, check out websites such as TravelInsurance.com, Squaremouth.com, InsureMyTrip.com, or CompareTheMarket.com.
Travel journalist Rudy Maxa hosts the 98-part public television series “Rudy Maxa’s World;” co-hosts the country’s most widely syndicated radio travel show, “RM WorldTravel;” and is a writer with National Geographic Traveler magazine.