Why do I need international insurance? (2024)

Why do I need international insurance?

Travel insurance can minimize the considerable financial risks of traveling: accidents, illness, missed flights, canceled tours, lost baggage, theft, terrorism, travel-company bankruptcies, emergency evacuation, and getting your body home if you die.

Generally, most domestic health insurance policies are not accepted abroad, so there is a benefit to purchasing travel medical insurance as a supplement to your health insurance coverage. The travel medical coverage is only valid while you're traveling.

While some countries require travel insurance, you do not always need coverage abroad. Whether you're traveling to the Seychelles, Jordan, the United Arab Emirates or Argentina, determining if you need travel insurance should be at the top of your planning list.

A travel insurance plan can help reimburse you for necessities purchased while waiting for a delayed bag or damaged belongings. The coverage limit varies depending on the plan, so take into consideration the belongings you are bringing and read the exclusions list provided with each plan.

If you don't have travel insurance you will have to pay out of your own pocket to deal with a problem while you're away. Or you may lose money if you have to cancel a trip and can't get your money back. This could cost you thousands of pounds.

U.S. Medicare and Medicaid do not cover medical costs overseas. Private U.S. insurance policies also might not cover any or all expenses. Check with your insurance before traveling to see if it provides coverage overseas. More information is also available on the CDC insurance page.

How much does international health insurance cost? The average annual cost of an international medical insurance plan is $5,500 per year. * However, plans range from as low as $500 with limited benefits to as much as $8,000 for a comprehensive policy that includes coverage in the USA.

A comprehensive travel policy with at least $50,000 in medical coverage is recommended when traveling to Europe or any country where you don't have health insurance. Travel medical insurance will cover expenses related to an unexpected injury or illness.

Travel insurance can be useful, but it's not always necessary. The key to knowing if you need travel insurance is figuring out your specific risks for any given vacation, then deciding if you can buy coverage that adequately protects you from any financial losses and pitfalls that might occur.

What happens if you have a medical emergency abroad?

The nearest US embassy or consulate can help travelers locate medical services and notify your friends, family, or employer of an emergency. They are available for emergencies 24 hours a day, 7 days a week, overseas and in Washington, DC (888-407-4747 or 202-501-4444).

Even if your health plan does cover you internationally, you may want to consider buying a special medical travel policy. Much of the additional coverage available is supplemental (or "secondary"), so it covers whatever expenses your health plan doesn't, such as deductibles.

Most individual health insurance policies in the U.S. do not provide coverage for overseas emergency care, either. Without that coverage, if you break a leg or your travel companion has a heart attack during your trip, you will not have financial protection against the medical expenses that accrue.

You might be able to get some emergency coverage abroad to an extent, but you won't be able to visit a doctor for a routine procedure or buy prescription medication and expect a reimbursem*nt. Private insurance might or might not offer coverage overseas, but again, it depends on the plan you have.

How much travel medical insurance do you need? Squaremouth, a travel insurance comparison site, recommends buying at least $50,000 in emergency medical coverage for international travel. For travelers going on a cruise or to a remote destination, the site recommends at least $100,000 in coverage.

International health insurance is designed to provide a comprehensive level of health care to those relocating from their home country for a sustained period of time, whereas travel insurance provides cover for emergency treatment while you are in another country for a shorter space of time.

Can you buy international insurance?

International travel medical insurance typically offers benefits that cover emergency medical, dental and evacuation services. Some plans, like those with added travel protection benefits, cover specific travel-related circ*mstances, like trip cancellation, trip interruptions or lost baggage.

Traveling without travel insurance means you may have to pay out of your own pocket if something doesn't go as planned.

In general, you can buy coverage any time before the date of your trip. That said, it's always best to buy coverage as soon as you make your reservations. The sooner you buy travel insurance, the sooner you'll have protection and the more benefits you may be eligible to receive.

Buying travel insurance might not be necessary if you're traveling domestically or going on a refundable trip, or if you carry adequate coverage through a credit card.

Travel insurance can provide you with peace of mind in case unforeseen circ*mstances cause you to cancel your trip or return home early. If you need emergency medical help for an illness or injury abroad, a travel insurance policy with medical coverage can reimburse the costs of this care.