Travel insurance is relatively inexpensive, and Faith Ventures plans have no deductible. It’s a small investment to avoid a potentially disastrous financial situation.
1. Existing health care insurance
Many insurance companies give policyholders some coverage abroad, but the coverage is often limited. Make sure you know the details of your specific policy. Some policies only cover medical expenses incurred at pre-approved hospitals, which may not be accessible. Some policies only cover medical emergencies, and not regular medical care you may need. Very few policies cover medical evacuation back to the U.S., which can easily cost over $10,000. In general, international medical costs can be significantly greater than medical costs in the U.S., and your existing healthcare insurance may not be enough to cover them. Travel insurance can function as primary or secondary coverage.
2. Location and type of trip
If you’re traveling to a dangerous political climate, a remote location far from medical facilities, or a developing country without modern hygiene standards, you are much more likely to be in need of travel protection. Likewise, consider purchasing travel protection if you plan to engage in strenuous physical labor or risky activities.
3. Trip cancellation
Trip cancellation and interruption coverage is most helpful for those booking and pre-paying for their trip in advance, when it’s impossible to foresee what might occur to cancel or delay your trip. Expensive plane tickets, tours, or accommodations are also smart to insure.