Travel insurance is insurance that is intended to cover medical expenses, financial default of travel suppliers, and other losses incurred while traveling, either within one's own country or internationally. Temporary travel insurance can usually be arranged at the time of booking a trip to cover exactly its duration, or a "multi-trip" policy can cover an unlimited number of trips within a set time frame. Coverage varies and can be purchased to include higher-risk items such as "winter sports." The premium normally depends upon the age of the traveler and the number of days he/she is traveling for.
The most common risks covered by travel insurance are
- Medical Emergency (Accident or Sickness)
- Emergency evacuation
- Repatriation of remains
- Trip cancellations
- Trip interruption
- Accidental death, injury, or disablement benefit
- Overseas funeral expenses
- Lost, stolen, or damaged baggage, personal effects, or travel documents
- Delayed baggage (and emergency replacement of essential items)
- The flight connection was missed due to airline schedule
- Travel Delays due to weather
Common Exclusions:
- Pre-existing medical conditions
- War or terrorism—but some plans may cover this risk, and some do cover for acts of terrorism
- Injury or illness caused by alcohol or drug use
