Cruisers (cruise travelers), wildlife Safari goers, resort vacationers, tour package buyers are typical buyers of trip cancellation insurance. Anybody who has spent substantial amount of money in non-refundable travel costs (i.e. airline tickets, resort bookings, safari tour packages etc.) is an ideal candidate for travel cancellation insurance. This type of insurance is not to be mistaken for visitor health insurance or visitor medical insurance which is designed for medical coverage with no trip cancellation benefits.
What:
Trip Cancellation – can reimburse the insured for trip costs forfeited or lost due to the insured, or traveling companion or a family member becoming sick; or the destination has a natural disaster (i.e. earthquake, tsunami etc.) or is no longer safe to visit due to terrorism
Trip Interruption – can pay for travel arrangements to return home and also pay for trip costs forfeited if the insured is forced to return home because of a disaster or qualifying sickness of the insured, or traveling companion or non traveling family member
Medical Coverage – can pay for hospital, out-patient, prescription drugs, ambulance costs etc. if the insured is sick or injured during travel (some plans have pre-existing condition exclusion)
Evacuation Coverage – in the event of a grave emergency due to medical reasons or disaster circumstances then the plan can pay for costs to evacuate the insured to the closest adequate safe medical facility (some plans can fly to your hospital of choice close to your home)
Baggage Loss, Travel Delay etc. – can pay for loss of travel bags; a hotel accommodation cost if there has been considerable flight delay etc.
Why:
In the event you are unable to start the trip or have to cut short your trip then Trip Cancel & Trip Interruption Insurance can pay for the non refundable un-used portion of your trip. So, if one of the travelers or a family member of the traveler is sick then the insurance shall pay for the money lost. In the event of the traveler having to interrupt or cut short a trip then the insurance can also pay for the transportation costs to return home.
Also, if there is terrorism or hurricane and you destination city is unsafe then the insurance can pay for the lost trip investments; if you are already at your travel destination then the plan can pay for evacuating you to safety.
Off course, most US domestic insurance plans including Medicare do not provide benefits if you are outside the US. These trip cancel insurance plans can provide for hospital and outpatient treatment costs during the insured’s travel.
Most travel cancel insurance plans can provide medical evacuation to the closest adequate medical facility; while some specialize plans can fly you back home to a hospital of your (the insured’s) choice.