Tips for Traveling with Travel Insurance

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Sep 14, 2023

Tips for Traveling with Travel Insurance

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In 2021, my wife and I finally decided to vacation after a year-and-a-half in lockdown due to the coronavirus pandemic. We were vaccinated, wore masks on our flight, and were excited about the opportunity to unwind at the beach. Unfortunately, we got COVID-19 while we were on the trip, which completely derailed our plans and made travel home much more challenging. We didn’t have travel insurance at the time, but boy did we wish we had thought about it before we headed on vacation.

Whether you’re traveling internationally or are worried about a natural disaster or flight delays, there are all sorts of reasons you may want to buy travel insurance. Look no further than the fires in Maui to understand why evacuation coverage may be worth thinking about.

When evaluating your insurance options, though, there are a few different types of insurance to consider. Keep reading for tips about evaluating travel insurance companies and insurance benefits.

In this article

Types of travel insurance

Just like car insurance, there are a few different types of travel insurance that you may want to consider as you think about what kind of travel insurance policy makes the most sense. Here is a quick review of some of the most common types of coverage you may be interested in exploring, depending on whether you’re traveling domestically or internationally.

Trip cancellation/interruption insurance

Trip cancellation or trip interruption insurance covers various factors that may delay, interrupt, or postpone your travel plans. In most cases, this coverage only applies to prepaid costs that are non-refundable and related to your travel, such as flights or tours.

It’s important to know exactly what the travel insurance covers before your trip since different policies offer different benefits. Some of the most common types of events covered by travel delay and interruption coverage include:

Flight delays from missed connections
Sudden injury, illness, or death of you or a family member
Natural disasters or severe weather
Needing to appear in court (including for jury duty)
Termination from work that requires you to work during pre-planned travel
Terrorist incidents

When your policy is trip interruption coverage, this coverage offers reimbursement for the remaining portion of non-refundable aspects of your trip. It may also cover additional costs you incur getting home. Travel delay coverage (also known as missed connection coverage) generally offers reimbursement for added meals or accommodations due to having travel delayed within a certain period of time, generally six to twelve hours.

It’s important to look at the fine print, as some insurance companies will reimburse only certain maximums. Additionally, you may add Cancellation for Any Reason (or CFAR) coverage to your policy, allowing you to get reinforcement for all or most of your trip cost for any reason that you deem necessary to cancel. This may cost more money from a policy perspective, but may be worth the added peace of mind. After all, it’s not like anyone would’ve anticipated the global coronavirus pandemic just a few years ago.

Medical coverage and emergency assistance

When I was traveling in Costa Rica, I knew that we were going to be on a few adventure excursions and that these had an added risk associated with them. I also knew that in some situations, medical care was quite far from where I would be participating in these activities, and that getting to the nearest hospital might require a helicopter ride — talk about expensive!

Getting medical coverage or emergency assistance travel insurance can help you cover some of these costs when your other health insurance doesn’t provide out-of-state or international coverage. In some cases, this coverage applies to pre-existing medical conditions that you declare ahead of travel. In other cases, these policies will help with out of pocket expenses related to:

Medical emergencies that require you to be transported to a different medical facility for more adequate medical care (also known as medical evacuation)
Medical treatment or medical expenses you incur out-of-country for things like doctors visits, prescriptions, or surgeries
Accidental Death and Dismemberment coverage, as well as repatriation of your remains if you die on your trip
Optional coverage for pre-existing conditions
Emergency medical reunion, which can help a family member or loved one travel to your location in case of emergency

Obviously, none of these sorts of things are the types of things you really want to think about happening to you when traveling or on vacation. However, just because you aren’t going base jumping or skydiving doesn’t mean you may not incur medical expenses for more minor inconveniences on a trip. Health care can be expensive and difficult to navigate, depending on your destination. In these sorts of situations, having this kind of travel protection can give you important peace of mind.

Baggage and personal belongings coverage

Nothing is more annoying than losing your bags while traveling. While they generally show up in a few days after the efforts of the airline, in some situations your bags may be lost forever or damaged. If you’re traveling with expensive items like cameras or jewelry, you may not be satisfied with the airline’s policies for lost luggage and decide to take out a policy for your items instead.

Baggage and personal belongings coverage typically covers baggage loss, theft, or damage. You will need to document ownership of certain insured items (particularly high value ones) ahead of time, which will then be covered on your policy. Different insurance policies have different maximums and coverage limits, so you’ll want to read about your policy’s exclusions and limitations before just assuming that anything in your suitcase is covered.

How to choose the right travel insurance policy

Now that you know the main three domains of travel insurance, you can start to figure out which travel insurance policy is appropriate for your trip. You might be tempted to just get a comprehensive travel insurance policy that covers all three of these areas, but you might save money by not picking a policy that could be overkill depending on your trip. Here are a few tips for choosing the right travel insurance policy.

Assess your travel needs

This may seem obvious, but a great place to start is to think about your trip and the inherent risks involved with it. If you are traveling to France to propose to your partner, you may want to have some added insurance for the engagement ring you’re packing. On the other hand, you may choose to keep it in your carry-on bag and avoid letting it leave your sight the whole trip.

For people traveling to destinations with lower-quality hospitals or areas where they will be engaging in adventure excursions, getting medical travel insurance may be wise. Again, this comes down to your own personal preferences and comfortability, as well as the place you are traveling to.

Compare coverage from different insurers

Once you’ve decided that you want to purchase travel insurance, it’s important to compare coverage from various insurers. The internet makes this pretty simple to do, and often allows you to look at different companies head-to-head on things like out-of-pocket maximums, exclusions, coverage limits, and overall cost.

Read reviews online

The last thing you want when you need to file an insurance claim is to find out your insurer offers less-than-stellar customer service. If you really want to get to the bottom of a travel insurance company, consider doing a quick Google search to learn more about the company online. Reviews from real users on platforms like Google Reviews, Yelp, Facebook, and the Better Business Bureau can be great resources to leverage if you’re torn between two options that otherwise seem similar.

Work with a travel insurance agent

If you’re still struggling to decide when picking between different travel insurance options, speaking with a licensed travel insurance agent can help you figure things out. A travel insurance agent will come with extensive knowledge of the policies their insurance agency offers, allowing you to get all of your questions answered and ensure that you aren’t signing up for too much (or too little) travel coverage.

How to maximize your travel insurance

Once you’ve selected your travel insurance, you’ll want to make sure you get the most of it if you need to use it. Here are some tips to keep in mind in order to get maximum value from your travel insurance coverage — should you need it.

Review your existing coverage

Before heading on your trip, look at your policy and ensure you understand any minimums or maximums. Once those are fully accounted for, you’ll know when and how you can use your insurance if a situation arises that would be covered. The last thing you want is to think you have coverage only to find out that your policy doesn’t address the scenario you find yourself in. Reviewing your coverage before heading out avoids this problem.

Declare any pre-existing conditions

If you’ve got travel medical insurance you might be utilizing on your trip, you’ll want to make sure you communicate any pre-existing medical conditions to your policyholder before you go on your trip. This ensures that you get proper coverage while you are traveling, so it is something you should also consider when you take out your policy in the first place.

Understand cancellation policies

If you need to cancel your trip, it’s important that you have a thorough understanding of what sorts of events do and don’t constitute a reason for a cancellation. This is one of the most commonly misunderstood areas of travel insurance, so if you have any questions about your policy, make sure to reach out to your travel insurance agent prior to your trip just to be clear.

Collect necessary documentation

In the event that you do need to file a claim while traveling, make sure that you collect the right documentation in order to file your claim accurately. This includes collecting any receipts or communications about your trip, as well as filling out your claim form accurately. You’ll also want to make sure that you submit your insurance claim in the proper time frame and follow up with it as it is processed by your insurance agency.

Travel insurance mistakes to avoid

Just because you have travel insurance doesn’t mean that you might not make mistakes when it comes to your coverage. Here are some of the most common mistakes to avoid if you’ve just got a travel insurance policy.

Waiting until the last minute

If you wait until the last-minute when you’re right about to travel, you may wind up spending more money than if you plan ahead appropriately.

Not reading about your coverage

As has already been outlined, it’s important to actually understand your coverage if you’re going to get the most from it. Not knowing what your coverage applies to can cost you valuable time and money.

Overlooking coverage for delays or interruptions

Many people think of travel insurance as intended for major catastrophic events. Even so, some of the most common issues you’ll run into as a traveler have more to do with delays or interruptions to your travel. From flight delays to having to find accommodations after the flight crew times out, overlooking coverage for more common situations could come back to bite you.

The bottom line

Just like car insurance, homeowners insurance, or health insurance, travel insurance can provide necessary peace of mind if you’re going on a trip. Particularly if you are spending a lot of money planning an extravagant vacation that you’ve saved up for for years, knowing that you have some protection should anything go wrong can be exactly what you need in order to enjoy your vacation to its fullest.

Before you go ahead and sign up for a travel insurance policy, make sure to see if your credit card offers any similar benefits. These perks or benefits may not replace a traditional travel insurance policy completely, but they might help supplement coverage in useful ways that could save you some money.

While travel insurance isn’t an absolute necessity, it is definitely something that should be considered each time you plan a vacation. From trip cancellation insurance to beefed up medical or health insurance, the right type of travel insurance can help you more thoroughly enjoy your travel. Even minor inconveniences like flight delays become much more palatable when you have travel insurance on your side. With the above tips in mind, you’ll be able to travel in style with your traveler’s insurance.

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Brent Ervin-Eickhoff is a Chicago-based writer, stage director, and filmmaker with a background in digital marketing and content creation. In addition to Joy Wallet, Brent has written for Complex, Volkswagen, HowlRound, Picture this Post, and Third Coast Review, among others. He currently serves as the Associate Director of Marketing for Content Creation at Court Theatre at the University of Chicago. Brent graduated from Ball State University with Academic Honors in Writing.

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