Why choosing the right kind of travel insurance coverage before traveling internationally is one of the smartest investments a traveler can make.
It’s every traveler’s worst nightmare: A good vacation gone suddenly bad.
You may be hiking a beautiful trail in a national park, or practicing your rock-climbing skills, or learning to surf on a gorgeous beach. Then the unthinkable happens: A fall, a head injury, broken bones, or worse. You require a medical evacuation, hospital stay, and, after surviving the ordeal, you are presented with a medical bill for $100,000 - or maybe even a lot more. And the medical insurance you have in your home country? It’s not accepted in your current destination.
Sure, we said that accident was “unthinkable,” but the fact is, huge unexpected expenses can be avoided by travelers who do think ahead. The world of travel insurance can feel complex, expensive, and unnecessary, but not having the right kind of insurance, especially when traveling internationally, can be the most expensive travel mistake you can make. Here’s how to prepare in advance.
Why travel insurance is worth the investment
Why do we think of travel insurance as an “investment” rather than an “expense”? Because when you travel internationally, there is a strong likelihood that the medical insurance you have in your home country will not be accepted in the country you are visiting. In some respects, you are paying for peace of mind, of course: Knowing that, in the event that you are seriously injured or ill, you’ll be prepared with a health insurance policy that local medical practitioners and hospitals accept and are familiar with. In some cases, additional travel insurance can also deliver 24/7 emergency service, coverage against theft or loss of travel documents, and even language-translation services.
Travel medical insurance
For international travelers, “travel medical insurance” is the coverage that ensures that, in the event of a medical emergency in a foreign country, you are not liable for high out-of-pocket fees. It is a short-term, temporary policy covering health, injury, and emergencies. For example, if you are an international traveler planning to visit the US, it is recommended that you obtain a US-based travel medical insurance plan, which will be recognized by more doctors and hospitals in the United States, leading to an easier experience in the event that you seek medical care, customer service, or need to file a claim. (Note: Most of the better-known US-based insurance companies do not offer coverage to international visitors - coverage is offered by smaller US-based companies that specialize in international travelers.)
What is covered by travel medical insurance
In general, you can expect a travel medical insurance plan to cover any new illness, accident or injury, medical evacuation, and, in the regrettable event of a death abroad, the return home of the deceased’s remains. Generally not covered are pre-existing medical conditions, routine doctor check-ups, immunizations, pregnancy and childbirth, major dental work, or eye exams.
Other travel insurance options
In addition to medical insurance when traveling internationally, “trip insurance” can be appealing to some travelers. This kind of policy allows you to recoup some or all of your expenses in the event that you have to cancel or interrupt your trip, your trip is delayed, you miss a connection, lose baggage, car rental, and other specific instances itemized in your policy. A “cancel for any reason” policy, just as its name suggests, is more comprehensive and allows you to recoup some or all of your expenses if you decide for any reason at all that you need to cancel or postpone a trip. Cruise insurance works in a similar way, giving travelers a measure of security when they book a cruise that ends up being threatened by a significant weather event.