What is Travel Insurance?
Have you ever taken a cruise or planned a trip through a travel agency? If so, you may have seen offers for travel insurance, which covers unexpected expenses resulting from the cancellation or interruption of your scheduled trip. You may be able to buy travel insurance directly from your travel company (travel agent, tour operator, cruise line operator, property management company, etc.), or you can obtain quotes directly from travel insurance companies.
Travel insurance policies have very specific limitations and exclusions. If you are thinking about buying travel insurance, pay special attention to the fine print. There are a number of different travel insurance options available to cover many types of occurrences or losses associated with traveling. Read the coverage materials carefully and ask questions as needed, so that you understand the benefits being offered.
If you have questions, the Consumer Services Division of the Department of Insurance is here to help.
North Carolina Department of Insurance
325 N. Salisbury Street
Raleigh, NC 27603
Common Types of Travel Insurance
Reimburses you for nonrefundable deposits you put down on a trip or cruise if you have to cancel your insured trip due to sickness, death in the family or any other misfortune listed in the policy. You must first seek reimbursement from the trip provider before the insurance company will consider the claim. Some policies may also reimburse you for the unused portion of a vacation if you or an immediate family member becomes seriously ill or injured while on a trip.
Provides insurance for medical treatment if you become ill or have an injury while traveling. Some policies may pay for benefits that may not be covered by a standard health insurance plan. Unlike normal health insurance, some of these policies may include a deductible that applies to each claim. Make sure you are buying the coverage you want and review the policy.
Provides coverage if your belongings (luggage and personal possessions) are lost, stolen or damaged during a trip. You may also want to find out if the airline or trip operator offers any type of insurance for your belongings.
Provides coverage if you or a family member dies from a covered injury or accident while traveling.