What Type of International Travel Insurance do I Need?

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Although most holidays pass without any major incident, some people find themselves in trouble overseas. This includes cases of emergency evacuation, hospitalization and even death. If the individuals are not covered by international travel insurance, such personal tragedies can become long-term financial burdens. Medical treatment abroad can be very expensive, whether it is for a minor illness such as food poisoning or for serious accidents.
What Type of International Travel Insurance do I Need? What Type of International Travel Insurance do I Need? Picture

A day of hospitalization in Asia can cost more than $800, emergency medical evacuation from the United States ranges from $75,000 to $95,000 and can reach even $300,000, and from Bali it exceeded $65,000. Travelers who do not have international travel insurance are personally liable for all the costs involved. Even if some situations are covered by credit card or a permanent health plan at home, the insurance providers will not offer protection in some parts of the world and will not fully reimburse the policyholder. As a result, families are forced to sell assets so they can bring their loves ones home. If you are planning a trip, the following types of international travel insurance will give you peace of mind:

Trip cancellation and interruption

This type of international travel insurance covers your investment in the trip, including train tickets, flights, hotel reservations and cruises in case of cancellation or interruption. This coverage is very important, especially if you have prepaid for the trip. For example, one of your family members can get sick or a flood or fire can damage your house. Without insurance, you will lose part or all the money you have invested in the holiday. However, you may not need this type of insurance if you are visiting a friend and planning to stay in his apartment. It is important to be aware of the fact that this type of insurance might nor cover any medical care, so you may need a separate policy.

Travel health insurance

If you have an existing health plan, check whether it covers emergencies that happen overseas. Make sure you ask for affiliate hospitals in the location you are visiting and if they cover emergencies in other hospitals as well. Ask avout all the exclusions from the policy, such as high risk activities, alcohol consumption and pre-existing conditions. If your health plan is not adequate, consider buying international travel insurance that covers you abroad, especially if you will be away for a long time or if you have existing health conditions.

Medical evacuation insurance

If you are traveling to a remote area where the medical care is not likely to be up to normal standards, you should purchase a medical evacuation insurance that covers emergency transportation from a poor area to the closest top hospital and from the hospital back to your country. The policy can be purchased separately or as a part of your international travel insurance. Verify if it provides a 24-hour physician support center and if it covers all means of transportation.