Travel insurance is something that many people do not understand and few people purchase. This is unfortunate because when something goes wrong, if it ever does, their other insurances will not pick up the tab if something happens in another country. Why you ask?
Well, it is simple, you see your insurance company covers you for risks in the United States and they know the percentage of folks that will be injured, get food poisoning, crash cars, have jewelry stolen, aircraft accidents, etc., and thus , insurance companies have figured in these potential eventualities into their calculations when pricing their insurance.
Of course, when you are in another country, all bets are off. Suffice it to say that if you do any traveling to another nation, you really need to consider travel insurance. These policies vary in many ways. The first thing you need to understand is that with many policies the insurance starts on 12:01 am on the day you plan to arrive and ends at 12:01 am on the day after you plan on returning.
If for any reason you end up not going on the trip or cancel usually you can not get your money back if you do not cancel before 12:01 am the day of. Generally speaking, most companies will not give you all your money back, there is a processing fee. Other companies, say tough, too bad about your trip, you are covered for insurance on your trip, if you do not go, they keep all the money.
How would you cancel your insurance for your trip? Some companies allow a fax with a signed form and a follow up with an actual copy. Some allow a phone call instead, but you need to know the specific policy rules first. Please consider all this.