Do I Need Travel Insurance if I Have Health Insurance?
If you’re planning your next big trip to a foreign country, you might be wondering about travel insurance and if it’s necessary for healthcare expenses while on an international trip.
Travel health insurance offers different medical coverage benefits than a standard health insurance policy. On top of that, it can also be used outside of the state or country you live in, since domestic health insurance plans and Medicare policies have restrictions and exclusions that travel medical insurance does not.
Travel insurance is a different type of coverage, and it provides you with more protection as a traveler than you would receive from a standard health plan. If you’re looking to safeguard your health and the health of your loved ones on your upcoming trip, look no further. Here’s everything you need to know about travel insurance.
Why Purchase Travel Insurance?
Travel insurance is designed to offer protection for those who are traveling outside of their home country or state. It covers short-term trips (up to one year) but can be extended if necessary. You can also be covered for multiple short trips all within the same year under your plan.
Essentially, if you want to be prepared for the unexpected, you’ll need to purchase travel insurance.
Going on a trip without it puts you at risk of paying out-of-pocket for 100% of your medical expenses. This is especially true if you or a family member has a pre-existing medical condition or is a senior citizen (65 years and older), since senior citizens are more likely to need medical attention while traveling.
What Is Covered?
If you decide to purchase a plan through Insured Nomads, you’ll receive some of the most comprehensive coverage out there. Here’s what you can expect to have covered under your travel insurance plan with us.
There are a number of medical treatments that you can receive coverage for under your travel insurance plan with Insured Nomads. We offer 24/7 emergency care for unexpected medical situations. We also offer COVID-19 coverage (health updates, vaccinations, emergency evacuation), treatment for pre-existing conditions, and emergency dental care.
Need an ambulance to get you to a medical facility? Emergency medical evacuation or transport to the hospital is covered by your insurance provider under your medical insurance plan, along with natural disaster accommodations such as emergency evacuation and relocation. If the situation is too dangerous to remain at the destination you traveled to, we also offer repatriation, or relocation back to your place of residence.
Some other situations covered under your travel plan include misplaced or damaged luggage, flight delays, stolen cell phones, and certain bookings for sports and activities like scuba diving.
The bottom line? Insured Nomads is a step above most travel insurance plans, and you’ll find perks here that you can’t get anywhere else.
Other Types of International Travel Insurance
If a standard travel medical insurance plan isn’t enough for peace of mind, then move ahead to one that includes delay/cancelation benefits like the World Explorer Guardian plans from Insured Nomads . Some of these options include trip delay insurance, trip cancellation insurance, and trip interruption insurance.
Trip Delay Insurance
This coverage goes into effect if your trip is delayed due to circumstances outside of your control, such as a natural disaster or a mechanical issue with the airplane. In cases where the delay becomes so long that you end up needing to purchase meals in the airport while you wait, you can be reimbursed for those.
If the delay results in you missing planned portions of your trip that are prepaid, like hotel accommodations or booked activities, you’ll be reimbursed for any unused portion as well.
Trip Interruption Insurance
Trip interruption insurance applies when you’ve already arrived at your destination but something puts your plans on hold. Covered events include natural disasters, local emergencies, and covered medical events that affect your ability to continue on your journey. With this kind of insurance, you’d be reimbursed for any unused portion of your trip and, if necessary, be evacuated for your safety at no cost to you.
Trip Cancellation Insurance
Trip cancellation insurance can go into effect before you even make it to the airport. If you or someone you want to travel with has a pre-existing medical condition that could interfere with your travel plans, this is a great coverage to have.
If you end up having to cancel your trip due to a covered reason, you can be reimbursed for airfare, hotel accommodations, your rental vehicle, and any planned activities you paid for in advance.
Is Travel Insurance Expensive?
The cost of your travel insurance policy depends on a variety of factors like the length of your trip, the ages of the people you’re traveling with, and more.
There are also some additional fees that come with purchasing a short-term travel plan. Here’s a breakdown of what affects insurance pricing and what you’ll be paying for.
What Factors Affect the Cost of Travel Insurance?
Here are some of the factors that will impact your travel insurance rate.
- The length of your trip. If you are planning on traveling for 10 months, you’ll spend quite a bit more on your premium than if you were to travel for only two months. The longer you’re away from home, the higher the risk you have of needing medical attention.
- Your age (and the ages of family members traveling with you). Under many travel insurance plans, young children up to a certain age are free to insure. However, older people tend to be more expensive. This is because they are more likely to have pre-existing health conditions and require medical care during the trip.
The number of people you’re traveling with also has an impact on your rate. If your group is quite large, you’ll pay more overall, but you’ll be able to split the costs amongst more people.
- Where you’re going. If you’re traveling within your home country, travel insurance will be less expensive than if you were to travel to a different country.
Keep these things in mind as you shop around for the right insurance policy. They’ll help you pick the plan that works best for you and your group.
What Are the Overall Costs?
Travel insurance has a number of costs included with it, and you’ll have to be prepared for those if you ever need to use your health benefits while traveling abroad.
- Your regular premium. Each month you’ll be required to pay a premium to keep your policy active. Your premium amount depends on the specifics of your trip, who’s involved, where you’re going, how much your deductible is, and more.
- Your deductible. A deductible is the amount you’ll have to pay out-of-pocket when you actually receive medical services before your insurance kicks in. Insured Nomads offers deductible amounts ranging from $0 to $500.
The more you opt to pay as a deductible, the less you’ll pay on your monthly premium.
And, as long as you’re traveling outside of the US or Canada, your coinsurance will be fully covered under your plan.
Travel insurance with Insured Nomads is comprehensive and cost-effective. We want travelers to have access to high-quality coverage at an affordable price.
What If You Don’t Purchase Travel Insurance?
If you decide not to purchase travel insurance for your journey, you’ll be taking on a certain amount of risk. If you’re traveling alone, you might find yourself in a situation where you are in need of medical care and don’t have the funds to cover it. This can be a scary situation to be in, especially as a solo traveler.
If you’re traveling with a group and anyone in it has a pre-existing health condition, not having travel coverage is quite risky. Many pre-existing conditions are very expensive to treat, and you’ll want to make sure that anyone who is likely to need medical attention has access to the best care possible.
Here are some other risks of not purchasing coverage:
- No protection for delays, interruptions, or cancellations. As discussed above, these additional coverages that some companies offer will help you get reimbursed for events outside of your control that affect your trip. Most trip expenses are nonrefundable, so without this kind of coverage, you’ll have a hard time getting your money back.
- No protection for lost or damaged items. If the airline loses your luggage (or damages something inside of it), or if you are a victim of theft while at your destination, you will have to cover any associated costs on your own. You could request that the airline reimburse you for any damages they caused, but they may deny your request and take an extensive amount of time to send over the funds for your reimbursement.
- No emergency evacuation coverage. If there is an emergency at your travel destination that requires everyone in the area to leave, or you have a medical incident that warrants medical evacuation back to your home country, you’ll have to cover these medical expenses on your own as well. You also won’t be reimbursed for any unused portion of your trip.
- No COVID-19 coverage. At Insured Nomads, we provide COVID-19 coverage for cases contracted while en route to or after arriving at your destination. If you already tested positive for COVID before heading out on your journey, those medical expenses would not be covered under your plan.
Overall, not purchasing travel insurance means that you will have to pay out-of-pocket for any and all medical expenses that come up. It also means that you’ll have to cover the costs of miscellaneous incidents and unused portions of delayed, interrupted, or canceled trips.
Insured Nomads Has You Covered
Even if you have standard health insurance, you’ll still need to purchase travel insurance if you want protection for your journey. Your health plan will not cover you outside of your home country or state. You will need travel insurance to ensure that you and your loved ones don’t have to pay a large amount out-of-pocket for emergencies.
Some travelers skip trip insurance because they want to cut down on additional costs. Luckily, our plans are quite affordable — and a small price to pay in order to avoid potentially larger expenses in the long run.
Want to see how much your premium will be? Explore the policies, chat with us and purchase today.
About Insured Nomads
Insured Nomads is the first to take an integrated traveltech, fintech and insurtech solution to the world for remote workers, globally distributed teams, expats, and travelers. Their purpose is to make travel as safe and smart as staying at home. They do this by providing health insurance with exceptional medical benefits in tandem with wellbeing, safety, security, and advanced tech-enabled solutions for ease of payment for healthcare, emergency response and evacuation. Insured Nomads is available through affinity relationships, direct, embedded and through select brokers and partners for groups and individuals.