Types of Insurance to Have When Traveling

There are a variety of insurances, including travel insurances, to have when you’re going on a trip. Which ones are right for you? Here’s a quick look at a few that you might need to get before your trip, whether you’re going away for a weekend or an extended getaway.

Home/Renter

Home or renters insurance is something that you need regardless, but knowing you have it can make you feel more secure when you know you’ll be gone for a while. There’s quite a bit of variation in policies, coverage, and rates, so be sure that you’ve got the coverage you need at a price that’s affordable.

Medical

You might be under the impression that your normal health insurance will cover you if you’re traveling abroad. However, many of these health insurance policies don’t cover you when you’re out of the country, or they might just pay a small portion of any expenses incurred. Medicare doesn’t cover you when you’re out of the country at all. For this reason, it’s always a good idea to have this type of insurance in case of any illness while you’re gone. It isn’t just for when you’re sick, though. It should cover any medical issue, even a fall.

You might also want to look into medical evacuation insurance. This will cover your transportation to a hospital that’ll be able to give you the treatment you need for whatever is ailing you.

Trip Interruption or Cancellation

Trip interruption or cancellation can happen for quite a few reasons that can include things like instability in the destination country, natural disasters, a death in the family, or even an illness. If you don’t buy this type of insurance and any of these things happen, you risk losing all of the money you’ve paid for the trip. That could be quite a substantial amount – especially if you’re traveling abroad. If you decide that you need this type of policy, ensure that you thoroughly read the details before paying for it so that you know exactly what’s covered and what isn’t, as well as what actions to take if the unthinkable happens.

Lost Checked Luggage

Carrying your valuables in the luggage you’ll be carrying on the plane or train can significantly decrease the chances of them being stolen or lost, but this option isn’t always viable. If you’ll be taking valuable items with you and packing them, lost checked luggage insurance will help financially in the event that something ends up missing. Some of the medical insurance for travel already covers this, so double check before spending double. It’s also worth noting that some credit cards also offer this type of coverage.

Keep in mind that the key to making sure that you’re protected with your travel insurance is to be informed. To that end, always be sure to read the policy of any insurance you get in its entirety before you pay for it so that you know exactly what’s covered and what’s excluded.

 

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