How to Buy Trip Insurance

Trip insurance is a policy that you can take out in order to receive reimbursement for your vacation in the event of cancellation. Additional expenses covered under many trip insurance plans include medical costs, lost baggage and transportation charges.

Your insurance provider will give you a set of circumstances that will allow you to submit a claim for reimbursement.

5 Steps to Buy Trip Insurance

1. Find a trip insurance provider by going online or asking your travel agent (see Tips & Warnings).

Popular providers of trip insurance are TravelGuard, Travelex, AIG and CSA Travel Protection.

2. Review the type of coverage plan that you wish to take out.

Travel insurance providers offer different levels of coverage. Basic plans will usually only cover trip interruption while premium plans provide reimbursement for extras like missed connecting flights, identity theft restoration, trip delay fees, emergency evacuation and accidental death.

3. Get a quote for a trip insurance policy.

Your quote will be based on the total cost of your trip as well as the type of coverage plan that you decide to go with. Many travel insurance companies, such as TravelGuard, will also adjust rates based on the age of the traveler.

4. Provide traveler information and trip details.

Once you decide to buy trip insurance, you will need to give the insurance representative the contact details for each traveler covered under the policy. You also need to provide flight dates and times as well as hotel accommodations details.

5. Keep a copy of your trip insurance policy during your travels.

Once you have paid your premium to the insurance company, your policy will be active. Refer to your policy if you find you need to submit a claim due to travel mishaps.