Nobody likes to think that they might need emergency travel insurance, but the fact of the matter is, things come up and most of them are out of your control. This is especially true if you find yourself traveling in another country where your regular health insurance might not work or cover you.
Emergency travel insurance can cost as little as $4 per day for the duration of your trip and for that amount, you can potentially save thousands of dollars. So what can you expect to receive in return for the policy?
1. Cancellation privileges.
Most insurance plans allow you trip cancellation and interruption features. These are good things to have if you suddenly become ill or an emergency arises before you can leave for your trip. It can also cover any non-refundable expenses that you might have should you have to leave in the middle of your trip.
2. Accidental death and dismemberment.
Of course, nobody wants to think that they’re going to get dismembered or die while they are traveling, but should it happen, the insurance will usually pay around $25,000 to surviving members of your family-or whoever you choose the beneficiary to be.
3. Medical evacuation.
One of the best things that a comprehensive travel medical insurance plan will include is emergency medical evacuation insurance. This means that if you are taken ill or if you are injured, the plan will pay to have you transported to the nearest hospital, or even out of the country altogether. This is known as “repatriation.”
4. War and terrorism.
If you’re someplace and war or terrorism breaks out, this part of the insurance plan will help get you to safety. This might come in handy if you are traveling to a place that is experiencing political strife. Then again, with terrorists, you never know where an act of violence might strike.
5. Emergency medical benefits.
Every policy should include some form of emergency medical benefits. Depending on the policy that you choose, you could have benefits of up to $500,000. Deductibles are usually around $250, which can be a lot cheaper than having to pay the expenses themselves. Some deductibles are even less. The benefits should cover hospital visits and physician visits.
6. Travel assistance services.
This option, which is available with some policies, can help with legal referrals, transfers of funds, replacement of lost or stolen travel documents, emergency travel arrangements, and translation services.
So how much does this cost? The specific company and policy that you choose will have variable rates, but for the most part travel insurance is probably cheaper than you think it is. Some are as low as $4.00 per day. There are also annual plans available for multiple trips which can cost around $200 a year or more. These can be good money savers if you travel a lot.
There are usually some restrictions pertaining to the amount of time that you can be gone. For example, most trips have a minimum length which is usually about 7 days. There are also maximum trip lengths that tend to be about 90 days, although some are as long as 180 days.
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