With demand for international travel back in full force it has become even more important to get travel insurance, especially in this pandemic era. Also, with many airports experiencing staffing shortages and baggage delays, buying travel insurance makes more sense now than ever before. Sure, prices for airfare and hotels are causing sticker shock among those who are ready to explore, but having a travel policy in place will ensure you won’t lose the money you spent if your trip is canceled or interrupted for reasons beyond your control. As defined by The US Travel Insurance Association (UStiA), a national association of insurance carriers, third-party administrators, insurance agencies, and related businesses involved in the development, administration, and marketing of travel insurance and travel assistance products; “travel insurance is designed to cover the times when things go wrong and problems arise when you are on a trip.” There are three types of travel insurance coverage contained in a single policy – Financial, Medical, and Assistance.

While many travel credit cards offer some forms of travel insurance coverage as cardholder perks are limited. For example, travel insurance plans from credit cards never provide meaningful amounts of coverage for medical or dental emergencies. Meanwhile, limits on other travel protections are also limited, and you have to pay for each trip with your travel credit card for coverage to apply. With this in mind, you should make sure to research your plan and know what you’re getting before you rely on this protection for an expensive international trip. Nevertheless, we do recommend that before you purchase any type of travel insurance be sure to check with your credit card company to assess what type of coverage may already be built into your agreement.

How does international travel insurance work?

International travel insurance works the same as travel insurance for domestic trips. These plans include various coverage options and coverage limits, and a deductible may or may not apply. Travelers can choose to purchase international travel insurance for a single trip or multiple trips; long-term plans for missionaries and ex-pats are available from some providers. By purchasing insurance for international travel from among the top listed here, you can get a full suite of protective benefits that can protect you against financial losses caused by trip delays, emergency medical evacuations, lost luggage, and even mandatory quarantine due to COVID-19 when you’re overseas. And when buying travel insurance, always be sure to ask what is covered and if, in fact, it meets the standards of the three types of travel insurance coverage contained in a single policy – Financial, Medical, and Assistance.

• Financial reimbursement for trip cancellation, interruption, and delay in situations arising from conditions such as illness or bad weather; and for baggage loss and/or delay.

• Medical insurance and medical evacuation coverage in case you become ill or are injured while traveling.

• 24-hour assistance line to help find doctors, help arrange accommodations, and contact your family, or other assistance in case of emergency.

So do you really need travel insurance for your next international trip?

Here’s how to tell if you need insurance for your next international trip.

•  Are you spending a significant amount of money – more than $5,000 – on the trip? You probably need travel insurance.
•  If you’re on Medicare and are traveling internationally. Medicare doesn’t typically cover events outside of the country.

What will it Cost?

• Travel insurance generally costs from 4% to 8% of the total trip. Cost is based on the length of trip, destination, and age of the policyholder.

Is Travel Insurance Right For You?

When determining whether travel insurance is right for you, ask yourself the following basic questions:

• Can I afford the financial risk of losing my vacation investment if something goes wrong due to illness, weather, or other unforeseen circumstances?

• If I have to cut my trip short because of an emergency can I afford the cost of a return airline trip home?

• Does my health insurance cover me away from home and in foreign countries if I become ill or am injured while traveling?

• If my bags are lost or I have to spend an extra night because of weather-related problems, can I afford to buy replacement necessities and pay for extra lodging?

If you answered ‘No’ to any of the above questions, chances are that travel insurance may be a wise investment. Travel insurance can end up saving you a lot of money.

Where should I purchase Travel Insurance?

When, buying travel insurance, buy from UStiA member. UStiA membership is your assurance that a company has met high industry standards including participation in the association’s Code of Ethical Conduct.

Which travel insurance companies offer the best coverage options for international trips? 

Insurance language and terminology are not always easy to interpret and it pays to ensure you read the fine print to fully comprehend what will be covered and the type of policy you are getting. The top six providers listed below are all UStiA members providing coverage no matter which part of the world you may be traveling to.

Best International Travel Insurance Companies of 2022

• Best for Comprehensive Coverage: Allianz Travel Insurance
• Best for International Travel Medical Coverage: GeoBlue GeoBlue simplifies the international health care experience for members. Through their elite network of credentialed providers in 190 countries, direct payment, 24/7/365 medical assistance and support, a best-in-class mobile app and online tools, and more.
• Travel insurance comparison site comparison. InsureMyTrip 
• Best Optional Coverages: AIG Travel Guard https://www.travelguard.com
• Best for COVID-19 Coverage: Generali Global Assistance
• Best for Adventure Travelers: World Nomads Travel Insurance. 
• Best Comparison Site: Squaremouth
• You can also easily find and compare policies at VisitorsCoverage.com or G1G.com. A comparison site is a great place to start, but it’s not the only place you can buy a policy.

Do you have any travel-related stories where insurance saved the day? Please feel free to share in the comments or on our Facebook page as we want to hear from you.