What does travel insurance cover?

Travel insurance will come in handy if you want to secure your trip and make sure that even if something goes wrong, you are still covered. There are different kinds of travel insurance that are created to fit the different needs of different travelers.

However, most of these travel insurance products provide the following coverage for risks that may occur and are related to your trip:

• Trip cancellation or interruption. This pays for the amount or the portion of the amount you stand to lose in case you have to cancel your trip, you miss a flight or if your trip is cut short. This includes non-refundable plane tickets and hotel and trip deposits. It will also pay in the event the airline, cruise line or hotel suddenly goes belly up.
• Accidental death, dismemberment or injury. This pays a specified amount or a portion of the amount in case you die or are injured due to an accident while you are traveling. In some policies, this benefit will also pay for hospitalization and other related costs.
• Medical expenses. This pays for hospitalization and doctor's fees, as well as medications if you get injured or sick.
• Emergency evacuation or repatriation. In the event that you have to be evacuated by helicopter or ambulance because of a medical emergency, this pays for the costs.
• Lost or delayed baggage. This pays for any baggage that is lost and damaged during your trip. It may also cover for expenses you incur due to lost or delayed baggage (i.e. you will have to buy a new set of toiletries while you are awaiting the arrival of your delayed baggage). This may also cover for loss of money or for damaged personal possessions.

Additional benefits or risks that may be covered include car rental insurance, flight accident insurance, overseas funeral expenses, or legal assistance. Other benefits provided by travel insurance companies may include emergency travel assistance and concierge services.

If you have special needs, you may also purchase insurance for sports activities (especially the risky ones), pre-existing medical conditions, or travel to countries that are considered high-risk.

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