International travel insurance is a type of coverage that can be purchased in advance of a trip to another country. It usually serves two purposes, but each policy is unique, so thoroughly reading the policy before purchasing it is essential. In general, international travel insurance will cover the cost of the trip if it must be canceled due to unforeseen circumstances, as well as medical expenses incurred while traveling. Travel insurance is available for domestic trips as well; international travel is not required.
Medical benefits aren’t included in every international travel insurance plan, and those that do come with a lot of restrictions. Many people buy this type of insurance anyway because they believe it is better than nothing when traveling or that it can help supplement an existing insurance plan. If you have an accident or become ill while traveling, having this additional travel insurance can help you avoid receiving large medical bills in the mail. In most cases, international travel insurance is used to cover the costs of a trip if it has to be canceled prior to departure; typically, this will cover cancellations up to 24 hours before departure.
The cost of international travel insurance is typically calculated as a percentage of the trip’s cost, so it will often increase in price as the trip progresses. Some tour or travel companies sell their own insurance to go along with the trips they provide, while others can be purchased separately. In some cases, if the trip must be canceled, documentation such as a doctor’s statement will be required; however, other insurance plans will allow the trip to be canceled for any reason without the need for documentation.
If the trip is canceled, the travel insurance company will usually refund a portion or even the entire amount paid for the trip, less the amount paid for insurance. This can include airline tickets, hotel reservations, and any other travel-related expenses. Even though purchasing international travel insurance can be costly, many people believe it is worthwhile to protect their vacation investment and ensure that they will be able to go on the trip at some point, even if it must be postponed.