Maybe you’ve never used travel insurance before. Or maybe you’ve just purchased travel insurance, and now you’re scrolling through your policy documents, wondering what it all means. We’re here to help!
Have you ever cut a trip short due to an unexpected illness or accident? Found yourself delayed for hours or days due to inclement weather or unexplained airline shenanigans? Or perhaps gotten more than you bargained for in a politically unstable or crime-ridden part of the world?
Even if you’ve been fortunate never to experience major problems on the road, millions of your fellow travelers have.
What Is Travel Insurance?
Travel insurance is a plan you purchase that protects you from certain financial risks and losses that can occur while traveling. These losses can be minor, like a delayed suitcase, or significant, like a last-minute trip cancellation or a medical emergency overseas.
Travel insurance can’t prevent travel trouble, but it can address the financial impacts of many common problems. Policies are sold for single trips or defined time-frames, typically one year, with the option to renew indefinitely.
Like other forms of insurance, travel policies cover specific events up to predetermined coverage limits. Coverage limits determine policy premiums, which are paid upfront when the policy is purchased or on long-term policies’ renewal dates. Covered risks and exclusions vary significantly by policy type, insurer prerogatives, and travel preferences, but typically include:
Travel/Trip interruptions due to non-excluded events
- Cancellations (entire trip or components thereof)
- Lost or delayed baggage
- Carrier or service provider failures
- Emergency evacuations (due to physical perils and medical emergencies)
- Theft and other crimes (to learn how to minimize your risk of theft while traveling, check out the common types of theft abroad)
- Medical treatment
- Accidental death (including transportation of remains)
- Accidental dismemberment (compensation for dismemberment caused by non-excluded incidents)
How to Choose a Travel Insurance Plan ?
iiYbi Brokerage offers a range of travel insurance plans that include different benefits and benefit limits. So how you know which is best for you? To begin, get a quote for your upcoming trip.
Travel Insurance is by far the most common type of travel insurance. More than 90% of all travel insurance policies are trip policies. However, other policy types exist.
How to Choose the Right Policy?
Even if you’ve shopped for other types of insurance in the past, it’s not a simple matter to choose the right type of travel insurance and then select the insurer that best fits your needs and budget.
Perhaps money can’t buy happiness, but it absolutely can buy peace of mind. Just ask anyone who willingly pays for a home security system.
iiYbi Brokerage offers free, comparative quotes on travel insurance from multiple insurance carriers so you can get the best possible rate.
Want to see how much we can save you? Just request a quote to find out.