About Us | Travelex Insurance (2024)

FAQs

What reasons are not covered by traveler's insurance? ›

Travel insurance generally only requires you to answer a few questions – like where you're going and when, how much your trip costs, how old are you and where do you live – so it's easy to get a quote online.

Though you can buy travel insurance before you book your flight, it's actually better to wait until after you reserve your seat on the plane. This way, you'll know your ticket price and can make sure your travel insurance will cover the full cost of the ticket, in case you need to file a claim later.

Most travel insurance policies won't pay out if you're negligent while under the influence of alcohol or drugs, and have an accident or have property stolen.

According to Allianz Global Assistance, a travel insurance provider, "Trip cancellations and trip interruptions due to known, foreseeable, or expected events, epidemics, or fear of travel are generally not covered."

The insurer with the cheapest home insurance rates is AAA at around $101 per month, somewhat cheaper than Traveler's average of $125 per month.

Travel insurance rates through most providers fall between 4% and 8% of the total trip cost. Like the cost of flights, cruises, etc., rates may vary substantially based on the season, your original location, your destination, and other factors. This week, the average cost of a policy was close to $300.

The more costly your trip, the more your provider will need to reimburse you for a valid claim, which increases the cost of your policy. In addition, plan costs will generally increase with age, as younger travelers may be less likely to file a claim than senior travelers based on overall health.

Unlike airfare or hotels, travel insurance premiums do not typically increase as you get closer to your departure date. While the cost of some plans may change slightly, quotes will stay relatively stable leading up to your trip.

Does travel insurance cover flight cancellation? ›

Does travel insurance cover cancelled or missed flights? Your travel insurer may cover you if your flight was cancelled and the airline company doesn't or can't reschedule your flight. Your insurer may also cover you if the airline company doesn't reimburse you as a result, or only reimburses part of your expenses.

You'll simply need to make the purchase at least one day before travel. However, there are some types of coverage that you'll need to buy soon after booking or they won't be available. These include Cancel for Any Reason insurance as well as pre-existing medical condition insurance.

Here's the hurdle you may be facing: to meet an insurer's stability requirements there must be no change in your medical treatment or health condition in a specified time frame– and the rules around this differ between insurers. Does that mean your health changes will prevent you from getting the coverage you need?

Insurers sometimes decline claims that involve someone receiving medical treatment or spending extra money to complete a trip. Your travel policy's terms and conditions spell out the details under which you're covered by the insurance policy. The policy also lists all exclusions for coverage.

Your travel insurance might become invalidated if you: Fail to declare any underlying medical conditions or medications (including over-the-counter medicines) that you take. Sustain accidents or injuries whilst under the influence of drugs or alcohol.