Travel accident insurance is special insurance coverage that provides compensation for certain events that occur before or during your trip. The types and amounts of coverage depend on the company and the policies offered. Common coverages available under travel accident insurance policies include:
Cancellation Insurance – If you must cancel or delay your travel plans, cancellation insurance reimburses you for costs incurred because of the delay or cancellation.
Interruption Insurance – This type of travel insurance compensates you for losses incurred because you must return home early from your trip due to illness, injury, or another covered situation.
Accident or Illness – Travel accident insurance covers your medical expenses and related costs if you become ill or you are injured while traveling. Be cautious; some policies may not cover all medical expenses.
Travel Life Insurance – Travel life insurance covers accidental death while traveling. Your beneficiaries receive benefits as they would under a regular life insurance policy. Most travel accident policies that cover accidental death also cover dismemberment.
Cancellation Insurance – If you must cancel or delay your travel plans, cancellation insurance reimburses you for costs incurred because of the delay or cancellation. Cancellation Insurance Interruption Insurance – This type of travel insurance compensates you for losses incurred because you must return home early from your trip due to illness, injury, or another covered situation. Interruption Insurance Accident or Illness – Travel accident insurance covers your medical expenses and related costs if you become ill or you are injured while traveling. Be cautious; some policies may not cover all medical expenses. Accident or Illness Travel Life Insurance – Travel life insurance covers accidental death while traveling. Your beneficiaries receive benefits as they would under a regular life insurance policy. Most travel accident policies that cover accidental death also cover dismemberment. Travel Life Insurance It is very important to read the fine print before you purchase travel accident insurance coverage. Coverages can vary widely from one company to another company. Read the policy carefully to understand the situations covered and the maximum compensation available under the policy. Choose an insurance company with a good reputation. Ask the insurance agent or company representative what percentage of claims they deny. Even a small percentage of denied claim may be a warning sign that the company is difficult to deal with if you must file a travel accident insurance claim.