Everything you need to know about traveler's insurance

The enduring question, "Should I buy traveler's insurance?" We hear it frequently and wanted to help. Here's a guide on how to decide.

1. Do I really need travel insurance?

The answer is found when you answer another question. How much can you afford to lose if something prevents you from traveling or interrupts your trip and forces you to travel home? Also, on itineraries over 7 days or if you're traveling overseas, travel insurance is important to consider.

2. Won't my current health insurance cover me overseas?

Most US healthcare plans do not cover you internationally including most Medicare plans. It's important to check with your healthcare insurance and read the fine print to understand what is covered and what is not.  Even if you have some coverage, certain items like emergency evacuation, or 24 hour translation services may not be available.

3. What does travel insurance usually cover?

Policies reimburse you when you cancel or interrupt your trip for covered reasons and some offer "for any time - any reason" coverage as well. The standard coverages include things like a missed connection, illness, illness of a loved one at home (family members can even include aunts, uncles and grandparents), or an unexpected terrorist attack. If your trip runs into a road block like one of these reasons, you're entitled to a refund of any non-refundable costs like hotels, and plane tickets. 

4. How much does a travel insurance policy cost?

There are a few factors that affect your policy including your age, the cost of your trip, the length of your trip and occasionally the country you're visiting. A policy typically costs about 3-5% of the prepaid and non-refundable costs. It is important to also note, if you have pre-existing conditions, some policies will cover you as long as you purchase the policy within 14 days of your initial travel purchase. Our partner Allianz will cover you in this case

5. My trip was cancelled - what happens now?

We use vetted professional travel insurance partners such as Travel Guard and Allianz and they are available to pick up your call 24 hours a day/7 days a week.  Typically a claim takes about 4 weeks to process and you should expect to receive acknowledgement and a final decision on payment within 1-2 months. Remember, thorough documentation is key! This is typically what holds up payment for policy holders.