Travel Insurance

Travel Insurance

An insurance product designed to cover the costs and reduce the risk associated with unexpected events during domestic or international travel. Travel insurance usually covers the insured in two main categories: costs associated with medical expenses and trip cancellations. Many online companies selling airplane tickets or travel packages allow consumers to purchase travel insurance as an added service. Some travel insurance policies may also cover damage to rented equipment, such as a rental cars, or even the cost of paying a ransom in the case of a kidnapping.

For most people, travel insurance is short-term insurance available specifically against travel-related emergencies and expenses. International travelers will almost always want to obtain travel insurance because it covers medical expenses, but even other travelers may find it useful depending on their plans. Often grouped under the term "Travel Insurance" is trip cancellation insurance, travel medical (international health insurance), evacuation-only plans, and flight insurance (temporary AD&D).

This article describes common items covered by travel insurance policies and what to check for on your policy. With any policy, it is important that you read the terms and conditions carefully and that you especially review the exclusions (things that the policy definitely does not cover).

This article is a general guide to travel insurance policies, including some possible terms but is not a substitute for careful review of the specific policy you may purchase. Travel insurance policies differ markedly in their terms and conditions.