What is Travel Insurance?
Travel Insurance is insurance that is intended to cover medical expenses, financial default of travel suppliers, and other losses incurred while traveling, either within one's own country or internationally.
Temporary travel insurance can usually be arranged at the time of the booking of a trip to cover exactly the duration of that trip, or a "multi-trip" policy can cover an unlimited number of trips within a set time frame. Coverage varies, and can be purchased to include higher risk items such as "winter sports".
Risks Covered by Travel Insurance Policies
The most common risks covered by travel insurance are:
- Medical emergency (accident or sickness)
- Emergency evacuation
- Repatriation of remains
- Return of a minor
- Trip cancellation
- Trip interruption
- Visitor health insurance
- Accidental death, injury or disablement benefit
- Overseas funeral expenses
- Lost, stolen or damaged baggage, personal effects or travel documents
- Delayed baggage (and emergency replacement of essential items)
- Flight connection was missed due to airline schedule
- Travel delays due to weather