Buying Travel Insurance

For many young travelers, getting insured is an overlooked precaution that could save you lots of headache and money. Travel insurance isn’t just for medical bills; it also covers hotel and flight cancelations, baggage loss, theft, early departure and even emergency evacuations. Many people also don’t have medical insurance that covers them abroad — another reason to consider getting insured.

There are a lot of companies out there with a variety of plans for every need. One popular provider is World Nomads, which provides coverage in more than 150 countries. Another resource is InsureMyTrip.com, a website where you can search for plans from a range of companies.

Many companies will have good policies that cover up to around $100,000, some even up to $1,000,000. Don’t be tempted to go cheap, the last thing you want is to injure yourself and have your $30,000 coverage used up before you get better. Evacuation and 24-hour emergency coverage are other factors to consider. Some medical policies might cover them, others will not, so be sure to check the fine print.

Other aspects of travel insurance include theft, electronics and cancelations. Keep in mind electronics are usually only covered for a few hundred dollars, but you can buy supplemental insurance for your expensive gadgets. Also, be aware most policies don’t cover accidents that happen during extreme adventures like bungee jumping, in addition to reckless behavior like alcohol-related incidents.