Travel insurance is an insurance, which is planned to cover medical expenses, financial investments like money invested in nonrefundable pre-payments, and other losses occurred while traveling, either within one's own country, or internationally.
Travel insurance can usually be given at the time of booking of a trip to cover just the duration of that trip or a more far reaching, continuous insurance can be purchased from the travel insurance companies more often, travel agents or directly from travel suppliers such as cruise lines or tour operators. However, travel insurance acquired from travel suppliers has a tendency to be less inclusive than insurance offered by insurance companies.
Travel insurance often offers coverage for a variety of travelers like:
• Student travel
• Business travel
• Leisure travel
• Adventure travel
• Cruise travel
• International travel
The most common risks that are covered by travel insurance are:
• Medical expenses
• Emergency evacuation and repatriation
• Overseas funeral expenses
• Accidental death, injury or disablement benefit
• Cancellation
• Curtailment
• Delayed departure
• Loss, theft or damage to personal possessions and money (including travel documents)
• Delayed baggage (and emergency replacement of essential items)
• Legal assistance
• Personal liability and rental car damage excess
Some travel policies will also provide cover for additional costs, although these vary widely between providers. And in addition, often separate insurance can be purchased for specific costs such as:
• Pre-existing medical conditions (e.g. Asthma, diabetes)
• Sports with an element of risk (e.g. skiing, scuba-diving)
• Travel to high risk countries (e.g. due to war or natural disasters or acts of terrorism)
Common Exclusions:
• Pre-existing medical conditions
• War or terrorism - but some plans may cover this risk
• Pregnancy related expenses
• Injury or illness caused by alcohol or drug use