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BEFORE YOUR TRIP healthcare provider , who may require one before treatment occurs . Talk to your insurance provider about the process upon purchasing the policy .
Before purchasing a travel insurance policy with medical coverage , be sure to check what your regular medical insurance does or doesn ’ t cover , particularly when traveling overseas .
Generally speaking any medical problem that arises within 60 days prior to purchasing the policy is not covered ; however , there are some exceptions to this .
Confused by all the terms in your medical insurance policy ? Consult this guide 8
BAGGAGE LOSS / DELAY
Baggage loss and delay coverage protects you in the event that your luggage is lost , delayed , or stolen . This often includes a cash payment if your bags are delayed for more than 12 hours after you arrive at your destination .
FLIGHT DELAY / CANCELLATION
Flight delay or cancellation insurance ( sometimes called “ travel delay ”) typically pays for accommodations , meals , and new travel arrangements once you ’ ve been delayed a certain amount of time ( often six to 12 hours but it varies from policy to policy ).
TRAVEL DOCUMENT PROTECTION
Travel document protection kicks in to help you replace a passport or other travel documents when they ’ re lost or stolen .
ANNUAL TRAVEL INSURANCE
If you travel many times a year ( particularly internationally ), it may be more economical to purchase annual insurance instead of individual policies for each trip . Annual insurance may also be a good idea if you regularly travel to developing countries , even if it ’ s only a few times a year .
Most annual policies provide medical evacuation coverage , benefits in the event of loss of life or limb , as well as minimums for lost luggage and treatment costs for illness or injury . These policies typically do not include trip cancellation coverage , but in some cases you may add this for an additional fee .
CANCEL FOR ANY REASON POLICIES 9
The Cancel for Any Reason ( CFAR ) option is available as an upgrade on some insurance carriers ’ comprehensive travel insurance plans and is a great option that allows travelers to cancel their trip for any reason that is not otherwise covered in their base plan , provided they cancel their trip more than 48 hours before their departure date . Most policies have provisions along the following lines :
1 . The purchase of CFAR coverage is time sensitive . You need to buy insurance at the time of or within 14 days of the date when you made any first payment towards your trip .
2 . You need to insure 100 % of your non-refundable trip cost .
3 . Cancellation needs to be at least 48 hours before departure .
4 . You can cancel for any reason and get reimbursed for 50 % to 75 % ( amounts vary by policy ) of the deposited or non-refundable trip cost .
After the virus started spreading , travel insurance companies had a huge influx of customers looking to buy this coverage . It even got to the point where several companies had to stop selling CFAR policies because it didn ’ t make sense economically .
However , there are still travel insurance companies we work with that are selling travel insurance with CFAR coverage .
8 https :// www . iamat . org / travel-insurance / 9 https :// www . forbes . com / advisor / travel-insurance / cancel-for-any-reason /
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