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Travel insurance is a plan you purchase that protects you from certain financial risks and losses that can occur while traveling. These losses can be minor, like a delayed suitcase, or significant, like a last-minute trip cancellation or a medical emergency overseas.
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In addition to financial protection, the other huge benefit of travel insurance is access to assistance services, wherever you are in the world. The right policy can arrange medical treatment in an emergency, monitor your care, serve as interpreters, help you replace lost passports and so much more.
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Trip insurance works as a method of reimbursement if something goes wrong before or during your trip, such as an unforeseen illness forcing you to cancel or an injury while you’re traveling. Once you buy a policy, the benefits included within that policy will become effective at midnight that day.
If you have any questions about your coverage during your trip, you can contact your provider’s 24-hour Emergency Assistance department for immediate help or information about how your policy’s benefits work.
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1. Cancelled trips
2. Medical emergency abroad
3. Emergency evacuations
4. Lost luggage, delayed bags & flights
5. Phone assistance 24/7 worldwide
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Additional coverage
* Life insurance
* Rental car collision
* Identity theft
* Hazardous sports
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Travel insurance is designed to cover a variety of events that may cause a financial loss before or during your trip. Most policies are comprehensive and are built specifically with travelers’ main concerns in mind, including coverage for illness or severe weather hampering travel plans, trip cancellations, medical emergencies, flight delays and lost luggage. While most policies include many of the same benefits, the specific coverage varies. To make sure you have the coverage you need and select the best policy for your next trip, it’s important to read each policy’s documentation to understand what benefits are included.
Four factors determine costs of Travel Insurance
1. The cost of the trip
2. The age of the travelers
3. The length of the trip
4. The amount of coverage within the policy
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While the premium calculation varies between providers and coverage, a standard policy with 'trip cancellation' coverage will typically cost between 5% to 10% of the total trip cost. A policy without an insured trip cost will likely be less expensive but may not cover all costs.
Comparing the options and choosing the best policy for your trip depends on your specific needs. Most policies are comprehensive and include many of the same benefits, with the biggest difference being the coverage limits per benefit. Therefore, when comparing, we sort policies by least expensive to most expensive, and using side-by-side comparison tool to choose the least expensive policy that matches your specific coverage needs, such as a certain amount of medical coverage you require.
Ski and snowboarding trips are expensive. Once you factor in costs for weekend lift tickets, family members, lodging, travel and meals, you may be paying a substantial amount for your trip. Protect that investment with travel insurance.
Trip cancellation benefits can reimburse you for your prepaid, nonrefundable trip costs should you have to cancel. If you or a family member are hurt on the slopes, travel insurance can help get you the care needed for the medical emergency.
Don’t wait too long to buy travel insurance!
The best time to buy travel insurance is immediately after you’ve completed your travel arrangements. The earlier you buy insurance, the bigger your coverage window. Also, you must buy your plan within 14 days of making your initial trip deposit in order to be eligible for the pre-existing medical condition benefit (not available on all plans)
Read your plan documents before you leave.
If you're not completely satisfied with your plan, you have 15 days (or more, depending on your state of residence) to request a refund, provided you haven't started your trip or initiated a claim. Premiums are non-refundable after this period.
The most important thing about CFAR is understanding how it works. If you buy the benefit and don’t use it correctly, you will not be able to make a covered claim.
Specified Time Limit
First, you must buy Cancel for Any Reason within the specified time limit. If you add additional trip costs, you must insure them within 15 days of your payment for them.
Cancel within the Required Time Frame
All Cancel for Any Reason benefits require you to cancel your trip within a specified time frame. For RoundTrip Choice and RoundTrip Elite, you must cancel within two days of your scheduled departure date.
Reimbursement is Limited
It’s important to understand that if you use the CFAR benefit, you won’t receive 100 percent of your nonrefundable trip cost when you cancel. Instead, you will receive a stated percentage.