What to Look for in Good Travel Insurance

Finding a comprehensive travel insurance policy can feel like searching for the perfect seashell on the beach — everyone’s looking for one, but few know how (or where) to look. For senior travelers, families, and young adventurers alike, the right travel insurance policy can be just as elusive. There are countless options available, and understanding which coverage to prioritize can seem especially challenging.

In today’s guide, we’ll explore what makes a good travel insurance policy, from medical coverage to trip cancellation and emergency support. Keep reading to learn how to choose the best protection for your travels!

5 Key Features of a Good Travel Insurance Policy

With an exciting vacation on the horizon, you might be asking yourself: What should I look for in travel insurance? When searching for a good travel insurance policy, it’s vital to prioritize certain benefits, such as emergency medical coverage, trip cancellation insurance, and evacuation support, for adequate protection throughout your entire trip. More specifically, you’ll want to look for these five key features: 

1. Emergency Medical Coverage. Good travel insurance must offer coverage for medical emergencies, hospital visits, and treatments while you’re traveling abroad. It’s wise to consider policies with provisions for pre-existing conditions if necessary.
2. Trip Cancellation Insurance. Reliable insurance policies offer trip cancellation coverage to ensure that you are reimbursed for non-refundable expenses if unforeseen circumstances, such as illness or injuries, force you to cancel your trip before departure. 
3. Trip Interruption Insurance. Comprehensive travel insurance includes trip interruption coverage that reimburses prepaid, non-refundable expenses if your trip is unexpectedly cut short and covers emergency transportation costs, such as airline tickets.
4. Personal Belongings and Baggage Insurance. Good travel insurance should offer coverage for lost, stolen, or damaged luggage that can save you from significant financial loss, especially if you’re traveling with valuable items or lose your passport. 
5. Emergency Evacuation Coverage. Dependable travel insurance includes medical evacuation coverage, which takes care of the costs of transportation to the nearest medical facility in case of a medical emergency requiring specialized care.

Tailoring Insurance to Specific Traveler Needs

Different types of travelers require varying levels of coverage based on their itineraries, destinations, and risk factors. To find good travel insurance, here’s how to tailor your policy to meet your unique needs.

For Baby Boomers and Generation X

One common question to think about for Baby Boomers and Generation X is, “Does travel insurance cover pre-existing conditions?” The answer is, “It depends.”

A good travel insurance policy will offer waivers for pre-existing medical conditions. Coverage for medical emergencies is also vital, as Medicare does not cover international travel. Likewise, good travel insurance for seniors should include 24/7 emergency support.

For Family Travelers

Finding the right family travel insurance is crucial to ensure everyone is covered, so if you’ll be traveling with little ones, look for travel insurance for young travelers under 10. Additionally, look for policies that include flexible options, such as robust trip cancellation insurance, trip interruption insurance, and travel delay protection that can help safeguard against hiccups that may disrupt family plans. 

For Young Adventurers

For young adventurers with their eyes set on activities like skiing, scuba diving, or hiking, search for adventure travel insurance — this specialized coverage will apply to accidents or injuries that result from high-risk sports. Similarly, remain mindful of comprehensive coverage for lost equipment and emergency medical evacuation that can provide peace of mind during off-the-beaten-path adventures.

Evaluating Cost vs. Comprehensive Coverage

Good travel insurance generally costs between 4% and 8% of the total trip cost. While it can be tempting to opt for cheap travel insurance, remember that lower prices may not provide the level of coverage you need. Instead, weigh the cost of the premium against the included benefits to understand whether a policy is a good value.

Here’s how to identify if a plan balances cost with complete protection: 

• Policy Cost. More expensive trips tend to require higher levels of coverage to protect your financial investment. Consider policies that offer coverage equal to the value of your trip, especially for non-refundable expenses, such as pre-planned excursions.
• Destination-Specific Coverage. Certain locations, including countries in Europe’s Schengen Area, require mandatory travel insurance to meet visa requirements. Ensure that your desired policy offers the minimum coverage limits for entry. 
• Policy Exclusions. Elements like adventure or high-risk sports, pre-existing conditions, and even pandemics may not be included without additional waivers. It’s vital to understand these exclusions beforehand to avoid claim rejections in an emergency.

Understanding the Importance of 24/7 Travel Assistance

Beyond key coverage areas, a crucial feature of any good travel insurance policy is access to 24/7 travel assistance. Also referred to as concierge travel assistance, this service offers around-the-clock support to help navigate unexpected complications during a trip. It’s especially beneficial in non-English-speaking countries, as it includes language services to help communicate with local authorities and medical staff.

Speaking of medical staff, 24/7 travel assistance can help locate the nearest hospital, arrange medical transportation, and facilitate communication with local healthcare providers in the case of an illness or injury. If a medical evacuation is necessary, your travel assistance team can coordinate safe emergency transportation to the nearest facility equipped to provide the required treatment.

Plus, 24/7 travel assistance can help in the event your passport, visa, or other important documents are lost or stolen. Your assistance team can point you to the nearest embassy, guide you through reporting the loss, and help obtain replacement documents quickly. Overall, 24/7 travel assistance can be the difference between minor inconveniences and major disruptions, making it essential in good travel insurance policies.

Aegis: Good Travel Insurance Tailored to Your Needs

Navigating the world of travel insurance doesn’t have to be as daunting as it seems. With the right information and understanding of your unique needs, you can confidently choose a good travel insurance policy that prepares you for any adventure that comes your way. At Aegis, we know a thing or two about good travel insurance policies — and we have several excellent options for you to pick from.

Compare reliable, traveler-preferred Aegis travel insurance policies today!