As the needs of travelers have expanded and become more specialized the travel insurance industry has developed a variety of travel plans designed to meet specific needs. It has recognized that one size does not fit all.
Below is an overview of some of the more common plans that are on the market. They go by various names from different carriers and they by no means all have the same benefits included.
If one of these types of plans meets your needs make sure you carefully read and understand all the coverage details before you buy.
This is the most common of the travel insurance plans and is the one that most people end up with. It has comprehensive benefits available with varying coverage limits depending on the plan. These are single trip plans and generally meet the needs of the vacation traveler.
There are various options available on many of the plans from which you can upgrade if you need the additional coverage.
You can learn more about this common travel insurance package plans here.
Annual Travel Plans
Unlike the single trip package plan above, the annual travel insurance plan provides coverage for multiple trips over a 12 month period. If you are someone who knows they will be making several trips over the course of a year for either business or pleasure, then the annual travel insurance plan may what you want.
There are some important differences and limitations that you should know about before you go this route. There are differences in trip cancellation coverage and there are some limitations on the length of each individual trip. Again these will vary by policy so you will want to compare coverages before you make a final decision.
You can learn more about the annual plan option here.
Medical Evacuation or “Medevac” Plans
For those who will be traveling out of their country of residence but have other types of insurance that will cover medical expenses and loss and damages to personal effects, you may want to opt for a medical evacuation policy since most medical insurance does not cover medically necessary evacuations. Depending on the type of activities you might be planning on your trip and where you will be doing it, this might be a very important coverage if you should ever need it.
Some of these policies also cover security evacuations as well and may be important to you depending on where you may be traveling. Here again there are differences in coverages from plan to plan so it is important to know what is and is not covered before you make your selection.
Learn more about Medical Evacuation Plans here.
Compare Quotes for the Best Value in Travel Insurance
The easiest and best way to make sure you get the most value for your travel insurance dollar is to compare quotes for different travel plans from the leading travel insurance carriers. It’s easy, quick and can save you money. Try it here.