In last week's post, I talked about the realities of needing travel insurance when taking a vacation or extended holiday. The facts are that many people will not need to use it, but for those that do, it could be a complete game changer.

This week, I'd like to explore the different kinds of travel insurance on the market as it can be confusing for those that never considered it before.  The first thing everyone must do is check with their current health insurance provider to see what, if anything, might be covered on your adventures abroad.  It might be as simple as paying a few more dollars a month to get the proper coverage. Otherwise, supplementing your home country's insurance plan with travel insurance may be necessary.

Explore the various types of coverage

In the world of travel insurance, there are plans that cover trip interruption, medical care, baggage and belongings and emergency evacuation. It's an uncertain world out there and when you're on the road, there are times when you want your plan to contain all of these different areas of coverage.

Trip Interruption coverage helps you out if, as the name suggests, your trip gets interrupted. Whether it be because you fell extremely ill and couldn't fly, or your airline goes out of business, there are generally plane tickets, hotel rooms, and tour bookings that might be missed, and cancellations often come with fees or non-refundable days. Trip interruption coverage helps to alleviate these unexpected fees.

Medical coverage abroad is probably the most significant form of travel insurance as accidents and illness overseas can easily rack up some bills. Just be sure to double check that the insurance kicks in if you happen to get injured while participating in adventure or sport activities, which is a sector sometimes not included.

Baggage and belongings coverage means the insurance will help to cover the costs of replacing items that might have been lost by airlines, stolen while traveling or just damaged in the process.

Emergency evacuation coverage might be something you don't think you'll need, but if you plan to travel to poorer countries or to remote destinations, then having this can be a lifesaver, literally.  If you are injured in a remote location and need to be flown to a hospital, emergency evacuation can help with the otherwise exorbitant fees.  If you come down with a bad injury or illness and are in a location with insufficient health care, the coverage can also help to transfer you somewhere better.

Where to look for travel insurance

You can purchase travel insurance from many health insurance providers, or you can look to travel insurance focused companies like World Nomads.

In addition, credit cards often cover a certain level of travel insurance if you happen to book most or all of your travel on the card.  Be sure to call your credit card company to find out details as all cards vary. These variations include different amounts of medical coverage, what types of belongings are covered and trip length.

Furthermore, believe it or not, your homeowner's insurance might also play a part in your travels. Some policies will cover your possessions under the policy even while abroad.

I hope that helps you in understanding travel insurance a bit better. Happy and safe travels to you all!

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