Many college students take good care of their international study abroad. However, these experiences often come with a hefty price tag. This is usually given to low-income students.
Such is the reason why most students don’t even bother buying for a travel insurance policy. But in some cases, that’s a financially responsible decision. The question now is, ‘is travel insurance worth the cost?’ What are the things that you should insure? What are the options that you can skip?
In this article, you will know the answer to the Frequently Asked Questions regarding travel insurance policies.
What is the Coverage of Travel Insurance Policies?
Sometimes, the best travel insurance policies are difficult to understand since it is a niche insurance product. Moreover, each travel insurance policy is different, thus, it is difficult to understand.
Baggage Loss or Delay Coverage
If your luggage is stolen or lost during a train ride, flight, or a similar transit; the travel insurance policy from HLAS will reimburse you for the value of the items that you have lost. Sometimes, it can reimburse you for up to $100 each day depending on the policy that you have. This is true for the items that you need to purchase if the bags are delayed. These will not cover medications or electronics, so it is always best to keep these things on hand.
Emergency Document Recovery
There are travel policies that will reimburse you for fees that you incur if your visa or passport is stolen or lost. Most of the time, you will find this as a subset of the covered costs in the trip interruption services. Thus, it is best to read the best travel insurance policies section accordingly.
Medical or Emergency Evacuation Coverage
Indeed, it is bad news to come down ill during study-abroad or trip. The majority of the travel insurance policies like HLAS cover emergency medical transport back to your country. Emergency evacuation is a similar policy that can cover transit back to your home, especially if the area that you are in has a mandatory evacuation. This is not the same as what is being offered in health insurance policies.
Missed Connection Coverage
If a delayed flight keeps you from making your trip on a Trans-Siberian railroad, you will not get a refund from the railroad company or the airline. But the missed connection coverage will give you a refund or pay for the extra transit costs which will enable you to catch a missed cruise, railroad, or tour.
Trip Cancellation Coverage
For the Trip Cancellation Coverage, you can have a chance to recover your out-of-pocket expenses especially if you cancel your trip for reasons covered by the policy. You can also recover your expenses whenever your air carrier or your hotel does not give you a full refund. Some of the covered reasons include death in the family, sudden illness, mandatory evacuation because of a terrorist attack, or weather-related issues.
Sometimes, your travel insurance policy will cover you if your travel company experiences bankruptcy or similar problems. Meanwhile, uncovered reasons include that you donot feel like going on your trip anymore.
What are the things that you will Not Find?
One thing that you will not find in the majority of the travel insurance policies is travel health insurance. Travel health insurance can cover the cost of your medical care in different countries. If you are out for a short trip, you can rely on your primary health insurance. However, you should check your insurance company’s website to know more about how they treat international care.
Meanwhile, if you are traveling for a longer period, then you may want to buy international health insurance from a private company or employer. If you are working or studying abroad, then you can ask for your company or university.
Is the Coverage the Same from my Credit Card?
If you are like the majority of college students, you might not be qualified for the best travel rewards credit cards. In general, the travel credit cards from American Express and Chase can offer extensive travel insurance benefits to the authorized cardholders. But the travel insurance is only applicable whenever the cost is incurred concerning the travel that has been paid with the use of an American Express or Chase credit card.
Some students do not have access to the travel benefit perks of these cards. However, if you have a travel credit card, it is best to read the fine print. Sometimes, you will find that you are covered for the majority of the risks while you are studying or working abroad.
On the other hand, if you are studying abroad, then you might want to check for travel or trip insurance. This is true if you are using a credit card with limited protections or using a debit or credit card to pay for your expenses overseas.