Wikipedia of Finance - Wiki-Financepedia - e-learning course on Insurance Wikipedia Chapter - Travel Insurance Policies and Coverage

What is Travel Insurance Policy and Travel Insurance Coverage


Whether traveling for work or pleasure, traveling is an exciting prospect that promises a wealth of new experiences and discoveries. But be aware of any unexpected turns and twists that may arise while you wait. Here’s where a travel insurance policy can help, serving as a safeguard against a range of unforeseen circumstances. Let us look into what is travel insurance policy meaning along with its coverage in this topic.

More than only medical emergencies are covered by a comprehensive travel insurance plan; it safeguards your entire trip by offering financial stability against unforeseen medical expenses, lost luggage, and trip cancellations. We will examine the key elements that make travel insurance policies indispensable for every traveler in our analysis of travel insurance policies. Join us as we explore the components of guaranteeing a worry-free and secure journey with the right travel insurance in place, from comprehending coverage alternatives unique to your vacation to navigating policy complications. Together, let us set out on a voyage of exploration to make sure that you always travel in safety and enjoyment.

Travel Insurance Definition

A financial safety net that covers unforeseen and unplanned events that can arise while on vacation is called travel insurance. It covers a wide range of potential risks, including medical emergencies, cancelled or postponed trips, misplaced luggage, delays, and other modifications to travel plans. The coverage provided by travel insurance policies varies based on the demands of the traveler and the type of policy chosen.

One can acquire travel insurance for a single trip or as an annual coverage that covers many travels all year long. Payment for medical costs, emergency medical evacuation, trip disruptions or cancellations, delayed or lost luggage, and other issues relating to travel may all be covered.

Travel insurance is an insurance product to protect you from the risk of losses occurred in misfortune events during domestic and international travels. Main purpose of any kind of “Travel Insurance Policy” covered is associated with trip cancellations and medical expenses. Now a day, online ticket booking websites provides you the travel package along with the travel insurance.

Travel Insurance Coverage

Below tables will guide you Travel Insurance Coverage’s offered by some of the insurer. Here you will get the basic idea about what are the things that need to be considered when buying travel insurance policies.

FeatureBasic CoverageDeluxe Coverage
Flight / Trip Cancellation100%100%
Trip Interruption / Stoppage100%150%
Emergency & Sickness Medical ExpenseIncludedIncluded
Baggage DelayIncludedIncluded
Trip DelayIncludedIncluded
Emergency Evacuations or Medically NecessitiesIncludedIncluded
Renter’s Collision Insurance (For Liability)IncludedIncluded
Passport Lost / Replacement / Visa InfoIncludedIncluded
Medical & Legal AssistanceIncludedIncluded
Children Under 17One Per Covered AdultAll Free
Cancel for Any ReasonNone75% of Trip Cost
Assistance on ID / Credit RecoveryNoneIncluded
Pre-Existing Medical ConditionNoneIncluded
Missed Connection Flight / TripNoneIncluded
Accidental Death & Dismemberment (AD&D)NoneIncluded
Pet CareNoneIncluded
Political EvacuationNoneIncluded

Mostly Flight / Trip cancellation or disruption coverage. This includes due to Sickness, Weather, Pre-existing medical condition, Injury, Pregnancy, Job loss, Terrorist attack, Death or hospitalization, Hijacking, Natural disaster, etc. Some other events that might cover under Travel insurance includes lost or stolen of baggage or cost of ransom in case of kidnapping or damage to the rental assets like rental car or rental bike. Different travel policies have different coverage depending upon states as well. We recommend you to get in touch with your nearest insurance representative to get clarified information on travel insurance coverage.

Five Basic Things Covered Under any Type of Travel Insurance Policies are

List of “Top 5 coverage of Travel Insurance” offered by insurance companies:

Flight / Trip Cancellation Coverage

There are many expenses non-refundable and pre-paid when you plan a trip. For example: Tour Package, Hotel Rooms, Cruise Fare, etc. Non-refundable or pre-paid expenses can be claimed under Flight/Trip Cancellation Coverage in the event of a trip cancellation.

Medical Expenses Coverage

People believe that by purchasing general Medicare or health care insurance you have protected yourself for any medical emergencies or expenses. But this fact is not true. Within United States its true but mostly general Medicare insurance policies does not cover medical expenses incurred abroad. Medical expenses coverage includes being covered for any emergencies, accidents, dental care, or medical expenses when traveling abroad.

Emergency Evacuation Coverage

Under Emergency Evacuation Coverage you will be covered for emergency evacuation expenses. For example: Transportation to your hospital of choice for care or Airlifts and Medically Equipped Flights to travel back to home.

Lost / Delayed Bags or Delayed Flights Coverage

  • Under Baggage Coverage, you can claim for Lost / Stolen / Damage of your personal belongings.
  • Claims for purchasing essential items until your bags arrive can be made under Baggage Delay Coverage. For example: Swimsuit, Clothes, Toiletry kit, etc.
  • Under Travel Delay Coverage, you can claim for expenses in case your Trip / Flight is delayed. This flight delay insurance option covers expenses such as hotel stays, restaurant bills, etc.

Phone Assistance 24/7 worldwide Coverage

Every travel insurance companies provides 24/7 support to their insured customer for all of their queries. This is a lifeline number for any assistance. You can call for services during:

  • Lost / Stolen / Replaced Baggage.
  • Lost Passports / Travel Documents.
  • Cancelled Flights / Delayed Flights.
  • For any Medical Emergencies.
  • To locate nearest hospital for care.
  • To arrange for medical treatment or transportation.
  • Or any other assistance you required during travelling.


In conclusion, a traveler needs a travel insurance policy as a necessary companion in addition to a financial safety net. One cannot overstate the comfort that comes with having a comprehensive travel insurance coverage while we navigate the challenging terrain of experiencing the unknown. Beyond its ability to reduce the financial impact of unforeseen circumstances, it offers travelers peace of mind and the freedom to focus on creating treasured memories without always worrying about unanticipated setbacks. The meticulous examination of coverage options, intricacies, and particular requirements ensures that the selected policy seamlessly meshes with the special features of every journey.

Read E-Learning Tutorial Courses - 100% Free for All

How useful was this post?

Click on a star to rate it!

Average rating 5 / 5. Vote count: 57

No votes so far! Be the first to rate this post.

We are sorry that this post was not useful for you!

Let us improve this post!

Tell us how we can improve this post?

Leave a Comment

Your email address will not be published. Required fields are marked *