Have you ever taken a cruise or planned a trip through a travel agency? If so, you may have seen offers for travel
insurance, which covers unexpected expenses resulting from the cancellation or interruption of your scheduled trip.
You might be able to buy travel insurance directly from your travel company (travel agent, tour operator, cruise line
operator, property management company, etc.), or you can search the internet to obtain quotes directly from travel
insurance companies.
Travel insurance policies have very specific limitations and exclusions. If you are thinking about buying travel
insurance, pay special attention to the fine print.
There are a number of different travel insurance options available to cover many types of occurrences or losses
associated with traveling. Read the coverage materials carefully, and ask questions as needed, so that you understand
the benefits being offered.
COMMON TYPES OF TRAVEL INSURANCE POLICIES
Some common coverages under travel insurance policies include:
Trip Cancellation/Interruption Insurance
Reimburses you for any nonrefundable deposits you put down on a trip or cruise if you have to cancel your insured
trip due to sickness, death in the family or any other misfortune listed in the policy. You must first seek reimbursement
from the trip provider before the insurance company will consider the claim. Some policies may also reimburse you for
the unused portion of a vacation if you or an immediate family member becomes seriously ill or injured while on a trip.
Emergency Medical Assistance
Provides insurance for medical treatment if you become ill or have an injury while traveling. Some policies may pay for
benefits that may not be covered by a standard health insurance plan. Unlike normal health insurance, some of these
policies may include a deductible that applies to each claim. Make sure you are buying the coverage you want.
Baggage Insurance
Provides coverage if your belongings (luggage and personal possessions) are lost, stolen or damaged during a trip.
You may also want to find out if the airline or trip operator offers any type of insurance for your belongings.
Accidental Death
Provides coverage if you or a family member dies from a covered injury or accident while traveling.
