As the temperatures increase, so, too, are travel plans.
More families are planning out summer vacations, especially after years of lockdown and travel restrictions put in place due to COVID. According to the 2022 Global Travel Trends Report, 70% of parents surveyed said they plan to travel internationally in the summer of 2022.
While travel plans likely involve site seeing, tours, relaxing on beaches and generally escaping the demands of everyday life, accidents and injuries can occur abroad just the same as they can at home. The only difference is you may find yourself financially strained without specialized protection in place while traveling.
That’s where travel accident insurance comes into play.
What is Travel Accident Insurance
Essentially, travel accident insurance serves as accidental death and dismemberment (AD&D) insurance while traveling abroad or locally, coverage for unexpected and reasonable medical expenses like sudden illnesses or injuries, emergency evacuations and other emergencies.
Who is Covered by Travel Accident Insurance?
Accident travel insurance is not limited to specific groups or audiences. Many companies will purchase insurance specifically tailored for business travel of their employees, such as war correspondents, missionary workers or journalists.
However, that doesn’t mean an individual can’t purchase insurance to protect them while on vacation. Many credit cards offer travel insurance for basics, and your auto or homeowners policies may include coverage for rentals or stolen property. However, it is wise to buy a basic travel insurance package to ensure all of the basics are covered so you can enjoy your summer travels without worrying about the financial strain of an emergency situation.
Every travel accident insurance policy is different, so it’s important to consider what exactly is covered under each plan. Most policies offer protection from a handful of potential emergencies.
What Does Travel Accident Insurance Cover?
AD&D: Many insurance plans offer AD&D insurance, paying out benefits in case of accidental death or the loss or loss of use of a body part or function. This coverage can exist in tandem with travel accident insurance, though, like most insurance policies, there are exclusions to be taken into consideration.
Emergency Evacuations: Emergency evacuation covers the non-medical needs for medically necessary transportation. For example, if you break your leg while on a trek across Europe, the emergency evacuation insurance helps with evaluation of transportation requirements, coordinating medical facility admissions and assistance with travel arrangements and immigration and flight clearances.
Repatriation: Often linked to emergency evacuation, repatriation offers coverage for the transportation necessary in events of illness or injury when traveling.
Related Content: How to Manage a Medical Emergency Abroad
24/7 Travel Assistance Services: Though these services may differ depending on the insurer, it is likely travel assistance will comprise an emergency assistance hotline, referrals for medical providers, emergency arrangements in case of accidents, and emergency help with lost passports or credit cards. Assistance services can also help with business-specific travel needs, including locating local printing and overnight mailing services, as well as simple concierge services, such as hotel info, sightseeing and tour guide information and local dining reservations.
It’s important to purchase travel medical insurance to protect against any emergency illness or accidental injury. U.S. healthcare does not follow you outside of the states, so ensuring you’re covered is important. Individuals with pre-existing conditions should also purchase travel medical insurance.
How to Purchase Travel Accident Insurance
As mentioned, you may find that your credit card or existing personal insurance policies cover some of the basics of travel insurance. But when it comes to travel accident insurance, it’s important to be sure you have the best coverage.
If you are looking for coverage for a group of employees, contact your regular insurance broker to find out what your options are. If you are looking for individual travel accident insurance for your personal travels, you can contact a personal lines broker directly. Hylant has partnered with Geoblue for travel medical insurance for individuals.