If you have never heard of visitors insurance you are certainly not alone. Visitors insurance is a relatively small part of the global travel industry. Even though it has existed for years, this type of insurance is steadily gaining popularity in 2019, especially in the United States.
When it comes to visiting the United States, the number one concern for travelers from abroad is medical costs. As most Americans know, even if you have insurance, an emergency room visit can get alarmingly expensive very quickly. When it comes to your health people often have no choice but to incur debt. A proper visitors insurance policy can provide medical coverage when you need it most.
Types of Visitors Insurance
There are two basic types of visitors insurance. The first type is known as a comprehensive visitors insurance policy and tends to be a bit more expensive than the second type, which is referred to as a scheduled benefits plan. While a comprehensive policy is usually more expensive, it also tends to provide significantly more coverage.
A scheduled benefits plan costs less upfront, but can potentially cost you more if you run into any issues on your trip. These types of policies have set limits on the amount they will cover for specific illnesses and injuries. If your injury goes over that limit, you are 100% responsible for the overage amount.
Forbes spoke with Zubair Jeewanjee, chief executive of G1G, a company that has specialized in visitors insurance for decades. According to Jeewanjee:
“Getting quality travel health insurance is crucial to protect visitors and their families against the exorbitant costs of unexpected medical treatment here in the United States…The optimal travel medical insurance for visitors to the USA varies drastically, depending on factors such as age, type of visa, length of stay, and pre-existing conditions. Always speak to a customer care representative. This ensures that customer expectations are met and they understand how to get the most out of their investment.”.
What Does Visitors Insurance Cover?
A proper visitors insurance policy does more than help with medical expenses, it also provides fiscal protection against travel cancellations and delays. A lot of people don’t even consider that, particularly those visiting from Europe. That’s because most of Europe has laws in place that require airlines to pay compensation for cancellations or delays. The United States has no such laws, which means unless you have a proper insurance policy, you’ll be on the hook for those costs, even if the delay or cancellation is through no fault of your own.
As with any insurance policy, it is imperative that you take the time to read the fine print before signing anything. Make sure you understand exactly what is covered, what your deductibles are, and what your co-pays will be. There is no reason for you to be caught off guard by an unexpected expense if you take the time to plan and purchase a visitors insurance policy that is designed for your needs.
To learn more about visitors insurance, or to inquire about a policy of your own, we encourage you to reach out to TGS Insurance. The TGS Insurance staff are experts in their field and are always ready to answer your questions, and work with you to find the right policy for your needs. Visit www.tgsinsurance.com to learn more.