Travel Insurance

For most people, travel insurance is short-term insurance available specifically against travel-related emergencies and expenses. International travelers will almost always want to obtain travel insurance because it covers medical expenses, but even other travelers may find it useful depending on their plans. Often grouped under the term "Travel Insurance" is trip cancellation insurance, travel medical (international health insurance), evacuation-only plans, and flight insurance (temporary AD&D).
This article describes common items covered by travel insurance policies and what to check for on your policy. With any policy, it is important that you read the terms and conditions carefully and that you especially review the exclusions (things that the policy definitely does not cover).
This article is a general guide to travel insurance policies, including some possible terms but is not a substitute for careful review of the specific policy you may purchase. Travel insurance policies differ markedly in their terms and conditions.
Definition of finance
1finances plural : money or other liquid resources of a government, business, group, or individual
The library closed due to a lack of finances.
Basically, using insurance begins as you encounter any problem after you've purchased coverage and before or during a trip.. a problem that puts your plans at risk and/or that threatens considerable cost beyond what you would normally encounter. (This won't include coverage for essential steps on your trip that you failed to arrange for yourself, e.g., lodging, meals, fully adequate connection times between flights.)
Once you know the details of the problem (and any cost), you promptly contact the claims people for the company that issued your policy. You explain the situation, and they instruct you on what to do for a covered problem.
• For problems with modest cost that are covered, you'll likely be told to pay the costs (preferably by credit card), keep all supporting bills/invoices/receipts, and to file a claim with the company after your trip is over.
• For problems with great cost (e.g., overseas medical evacuation can cost a fortune), the insurer may do the same...though such costs can easily exceed the maximum "draw" allowed on your charge card. Better travel insurers also have "preferred providers" in numerous countries, one of which may be able to help you at lesser cost than others...or even provide the service you need and directly bill the insurer.
• If you do not have the means to pay for what you need (and then wait for reimbursement), and no preferred provider can be used, some insurers will transfer funds to help. They do so only after being satisfied about costs encountered, and that they are sending the funds to and for someone who is covered.
See "Making a claim" below for more discussion.
To wisely purchase coverage, carefully read the policy before buying to assure it provides coverage you need...per the discussions below.
To be able to use your policy and procedures effectively, print copies and take two or more in separate bags. In addition, take copies of the instructions on how to contact the insurer's claims section...at least in two separate bags.