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Travel Insurance Articles

What is Travel Insurance?

Travel insurance covers a traveler's vacation cost against cancellation and interruption while also providing medical, lost or damaged property and travel delay coverage. Travelers are reimbursed if they have to cancel or interrupt their travel, they are also covered should the need arise for emergency medical treatment, medical evacuation and a number of other situations.

Plans can be broken down into the following major categories:

  • Trip Cancellation – Reimburses travelers unable to take their trip due to Illness or death (of the traveler or a family member), weather, airline strikes, terrorism, bankruptcy, becoming unemployed, jury duty or their home being rendered uninhabitable due to fire/flood etc.
  • Trip Interruption – Reimburses travelers if they have to cut short their trip due to Illness or death (of the traveler or a family member), weather, airline strikes, terrorism, bankruptcy, becoming unemployed, jury duty or their home being rendered uninhabitable due to fire/flood etc.
  • Medical/Health – Reimburses medical and emergency dental costs. Almost all travel insurance plans work by reimbursing the traveler after they have paid locally for treatment. Claims are usually paid within 7 to 10 days. Pre-Existing conditions are covered by most policies if the policy is purchased within (at the most) 21 days from the date the traveler made the first trip payment (deposit).
  • Medical Evacuation – Provides emergency transportation to either a local hospital in the event the traveler is unable to get there by themselves or back to a hospital near the travelers home. If family members are covered on the same policy they can return home also.
  • Travel Delay – Reimburses travelers for hotel, food or clothing expenses in the event of a flight delay.
  • Baggage Loss – Reimburses travelers for lost, stolen or damaged personal items. This coverage is usually for the duration of the trip and not confined to baggage damaged or lost by the airline.
  • Assistance Services – Provides a 24 hour collect call advice and assistance service to travelers. This service can be used anytime a traveler needs advice.

How is the premium determined?

This may vary by insurance company and the plan. For Trip Cancellation and Interruption, the cost of the trip, age and duration of your trip determine the premium. Medical only plans focus on the age of the insured person(s), benefit limit and deductible selected.

What does travel protection cover?

The insurance component of travel protection assures that you'll be reimbursed for non-refundable financial expenses associated with a cancelled or interrupted trip, lost baggage, or medical emergencies (Exclusions may apply, depending upon the policy you purchase). Read more

Can I cancel my trip for any reason and get all my money back?

We now have policies which allow you to "cancel for any reason" and get a reduced amount refunded (75% - 90% depending on product) in the event you cancel for a non covered reason. To be eligible for these products, certain conditions must be met which include: purchasing insurance within 14 days of your initial trip deposit, insuring the full prepaid trip costs and you must cancel 2 days or more prior to your departure date.

Typically, trip cancellation coverage refunds prepaid, nonrefundable payments if you have to cancel your trip for one of the reasons covered by your policy. Covered reasons include the following: sudden medical emergencies, unforeseen financial default of an airline, cruise line or tour operator, severe weather, terrorist incidents, and jury duty. Changing your mind about taking a trip or having certain business obligations are not covered reasons.

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