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Travel Insurance Coverage

Travel Insurance Coverage

What is Travel Insurance?
Travel insurance is a form of insurance that provides coverage for medical and financial expenses and other losses that might occur while an individual travels. The financial expenses in this regard refer to the loss of money from the investment in non-refundable pre-payments associated with travel. 
Travel insurance is typically offered in a short-term form and is usually arranged at the time of the booking. These characteristics are intended to cover the costs associated with the exact duration of the trip. Continuous travel insurance policies may be purchased from travel insurance companies, travel agents, or directly from a travel supplier (such as tour operators or cruise lines). That being said, any travel insurance policy that is purchased from a travel supplier will be less inclusive than plans offered by reputable insurance companies. 
Travel insurance will provide coverage for a variety of travelers. For example, student travelers, business travelers, adventure travelers, those who are travelling for leisure, cruise travel, and international travel will all possess different intricacies as well as an assortment of options that may be insured. 
Travel Insurance Coverage Types:
A travel insurance policy will cover the most common risks that are experienced during travel. The following risks or expenses are typically covered by a travel insurance policy:
    Medical Expenses
    Return of a minor child
    Repatriation of remains
    Fees associated with trip cancellation or interruption
    Emergency evacuations
    Overseas funeral expenses
    Delayed departures
Any losses obtained from theft or damage to personal possessions and money—travel documents are included in this description
Any costs associated with delayed baggage—travel insurance will also provide emergency replacement of essential items
    Legal assistance
    Personal liability and excessive damages to rental cars
Some forms of travel insurance will additionally provide coverage for unexpected or additional costs; these forms of coverage will vary widely between particular providers. Additionally, separate insurance may be purchased for the accruement of specific costs such as:
    Coverage for any pre-existing conditions
    Sports with an element of risk that are associated with travel such as skiing, spelunking, or scuba diving
    Traveling to countries that are regarded as high-risk due to natural disasters, acts of terrorism, or war
    Kidnap and ransom insurance
    Additional AD&D coverage policies
Although different policies will include additional forms of coverage, there are common exclusions that are typically eliminated by all travel insurance plans. For example, an insurer will cover any expenses related to pregnancy if the travel occurs within the first trimester, after that; however, the majority of plans will not provide coverage for any costs obtained. 
Travel insurance plans are typically priced in relation to the trip’s overall cost and the duration of the journey. In most cases, a typical coverage plan will cost approximately 5-7% of the cost of the trip.