Taking a trip of any sort is generally a big investment. While it’s not a required coverage, travel insurance provides trip-goers with the peace of mind that should the unexpected occur, they will be covered from the financial losses associated with cancellations, medical emergencies, delays, lost belongings, theft and more.

Travel insurance from AmTrust Warranty and Specialty Risk offers the following:

• Travel protection
• Baggage protection
• Medical protection
• Travel accident protection

Travel insurance does have certain coverage exclusions. A few examples of these exclusions include:

• Losses caused by pre-existing conditions during the trip like illnesses or diseases during the 60-180 day period immediately prior to the effective date of the policy for the policyholder or their travel companions, or for accidental injuries incurred when traveling against the advice of a physician.
• Losses caused by participating in extreme adventure sports like mountaineering or bungee jumping.
• Losses caused by engaging in illegal acts.
• Medical tourism – or traveling to another country for medical treatment – is excluded from coverage.

The policy will describe in detail the covered reasons for trip cancellation and all the exclusions, so it is encouraged to read it thoroughly.

In general, the cost of travel insurance is determined by the cost of the trip itself. When planning a trip, travelers should always ask about adding travel insurance for extra protection and to budget for it according.

Experts recommend purchasing a travel insurance policy immediately upon completing any travel arrangements. Putting off purchasing travel insurance can lead to forgetting to obtain coverage altogether. Additionally, the sooner travel insurance is purchased, the more protected the policyholder will be, as benefits generally begin on the plan’s effective date (as long as the premium is received before the cancellation or submitting any claims).