Why You Need International Travel Insurance
When planning a trip abroad, it is mandatory to have international travel insurance.
Why? It’s simple: even minor mishaps may become significant financial problems without insurance. If you break your arm or leg or become ill while on vacation, the expense of medical care might quickly escalate. Suppose you don’t have enough coverage and decide to see a doctor or hospital in another nation, even for something as simple as a headache. In that case, you might pay thousands of dollars for medical expenses out of pocket.
How do I obtain my plan? Several alternatives are available based on the sort of coverage that best meets your demands and budget. Some plans are marketed directly by insurers such as Allianz Global Assistance; others involve going via an intermediary such as Expedia or TripAdvisor, who enable reservations but may charge additional costs dependent on location.
What Should an International Travel Insurance Policy Cover?
You must ensure the policy covers your trip when purchasing international travel insurance. This includes:
- It’s fundamental to know the specifics of your policy where you are going.
- Where you are staying, for instance, if it’s through Airbnb)
- What you do, such as adventurous activities like surfing in Australia, does it compensate for any loss?
- With your travel insurance, what you’re bringing covers items such as electronics and luggage – but only up to a specific limit, so ensure your gear is properly insured!
How Long are You Going to Stay?
Most travel insurance plans short-term cover travel. However, it varies from policy to policy. It’s essential to know how long you will be traveling. You may consider purchasing a long-term travel policy if your vacation is longer than the usual time limit. When deciding how extended your coverage should be, consider the time it will take for your journey and any other activities surrounding this trip. If any back-to-back trips or excursions are scheduled before or after your international vacation, these could add up quickly!
What is Covered by Your Plan?
Your international travel insurance plan covers the following:
- Medical expenses. The program will pay for medical treatment received at a hospital or clinic, including necessary surgery, medicines, and other related costs. It’s important to note that most plans have exclusions for pre-existing conditions, also called exclusion periods. Suppose you have a pre-existing condition when purchasing your policy. It may be excluded from coverage until treated successfully and cleared by an authorized physician. Suppose you don’t remove the exclusion within a specific time frame, usually 90 days. In that case, any subsequent claim associated with that condition won’t be paid out either.
- Repatriation of remains. Suppose something happens during travel that causes someone’s death, whether in another country or back home. The plan will cover costs associated with getting that person home safely to be buried according to their wishes. This might include transportation costs such as airfare, ambulance services, or even being put on hold. At the same time, officials work out what happened off-site before allowing anything else regarding repatriation plans moving forward.”
What is Not Covered by Your Plan?
- Personal liability: If you get sued for something, it’s your problem.
- Lost baggage: You’ll have to handle this yourself.
- Natural disasters: Earthquakes, floods, etc., are not covered.
- Terrorism and kidnapping: These are not explicitly covered by most policies; check your policy carefully before purchasing it to ensure that if these things happen to you while traveling abroad (which they almost certainly will), they will be covered by your plan.
Medical Evacuation to the United States
When traveling in a foreign country, you may find yourself in a situation where you must be evacuated. This is considered an emergency and is often not covered by all plans. Medical evacuation can also be expensive and risky, as it involves transferring you to another country without proper treatment. Therefore, it’s essential to do research before purchasing this coverage because it might not be worth the cost of your trip, which will only last a few days or weeks, especially if there are no other significant health risks involved with your travel plans.
To Conclude
Travel insurance is a must. It’s the most important thing you can buy before going on an international trip. Why? No one likes to be burdened with massive medical costs and other expenses resulting from an accident or injury that was only partially covered by their health insurance. Travel insurance will not only protect you in the case of a medical emergency or illness while overseas, but it will also cover any lost luggage and flights home if something unforeseen happens while traveling abroad.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
