Travel insurance

Travel insurance is a financial product that reimburses travelers for covered risks such as trip cancellations, medical emergencies, and lost luggage during domestic or international travel. Standard policies typically cover medical expenses up to $100,000 per incident, with major carriers like Allianz and AIG providing specific limits.

Pre-existing medical conditions often require a waiver, available if you purchase the plan within 14 days of initial trip deposit. Insurance providers define covered reasons for cancellation as illness, injury, or severe weather events–examples include hurricanes (e.g.

Hurricane Ian caused over $112 billion in insured losses). COVID-19 coverage varies by insurer; some policies now explicitly list pandemics as covered events since 2021.

Lost baggage claims pay up to specified limits, usually around $500-$2,500 per bag, depending on insurers like AXA and Travel Guard. Emergency evacuation coverage pays for transport to adequate facilities and averages up to $1 million in comprehensive policies.

Trip interruption benefits compensate for unused portions of prepaid expenses due to disruptions like flight cancellations caused by airline strikes–Delta’s 2023 strike affected over 10,000 passengers’ itineraries. Coverage exclusions commonly include high-risk activities such as skydiving or war zones; policy documents list excluded activities specifically.

U.S.-Issued travel insurance requires either citizenship or residency, with proof needed at purchase according to State Department guidelines. Filing a claim demands documentation such as receipts, physician notes, and carrier notifications within the insurer’s time frame–usually 20-30 days after an incident, according to a report from YourInsurance.info.