Whether you are traveling abroad or otherwise, it’s a very good idea to look into your insurance options. Here’s some information on different kinds of travel insurance to help you decide if you need travel insurance.
Single Trip Travel Insurance
Single trip travel insurance is insurance that only covers a single trip. This kind of insurance is unique in that it applies to you no matter where you go. Plans usually include coverage for any medical expenses that occur on a trip as well as situations that are not related to health care like cancellation in the case of either a job loss situation or bad weather. This is a very smart thing to have because you never know what’s going to happen down the line.
Travel Medical Insurance
There are also special policies you can find that make sure that you have travel medical insurance when you go abroad. These types of policies typically offer coverage for a year. If you are planning to visit a place long-term, this is exactly the kind of policy that you need. These policies not only cover emergency medical and dental needs, but they also cover lost luggage, hazardous sports coverage, and even “emergency reunion services”, which cover the cost of bringing relatives to the side of the sick person.
Annual insurance plans are plans that are designed to last at least a year. They are usually renewable and offer most of the same benefits that regular insurance plans do. Essentially, they cover things like prescription drugs, maternity needs, wellness coverage, mental health coverage, and even newborn care. If you are planning to live in another country for a long period of time, an annual insurance plan is recommended.
Rental Car Policies
Most people who make travel plans also plan to rent cars especially if they are traveling long-term because they need a way to get around. In this case, they will also need to find a good rental car policy. Most policies offer the same type of coverage like those in the United States.
Flight Accident Insurance
Flight accident insurance is very important. People rarely walk away from plane accidents unharmed, so buying flight accident insurance is a logical choice. Should disaster strike, you will be assured that your loved ones at home will still be taken care of.
Accidental Death & Dismemberment Insurance
Accidental death and dismemberment insurance is somewhat similar to flight accident insurance. If you are traveling abroad and you get into an accident which results in your death, your family gets paid a lump sum of money.
Medical evacuation insurance is also extremely important for travelers. If you get into such a serious accident that you need a helicopter or ambulance to take you to a hospital, you will end up having to pay for the evacuation. This bill can cost anywhere from $50,000 to $100,000 or more! Being insured is the only way to make sure that you do not end up with huge medical bills, but only a small premium.