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Travel Insurance

What is Travel insurance?
Why should I buy travel insurance?
Why is travel insurance so expensive?
Why does the policy work on a reimbursement basis?
Why do you offer the pre-existing condition waiver only within seven days of the initial trip deposit date?
When I�m traveling outside the United States and renting a car, will your collision damage waiver (CDW) policy be accepted by the car rental company?
How long does it take to process a claim?
Why do you not offer a policy for just medical coverage?
I don�t need many of these coverages; I am just interested in trip cancellation.
Why are these programs more expensive than the one that is offered by my tour operator, and what are the differences between the programs?

What is Travel insurance?
Travel insurance is a means of protecting a traveler's trip, health and belongings. A policy can reimburse you in case you have to cancel or interrupt your travel; cover unexpected travel expenses; and provide means for medical treatment and protection for medical emergencies. faremax.com does not issue travel insurance policies, but it does offer coverage through its partners. Among the travel needs that policies cover:

Why should I buy travel insurance? top
If an illness, accident, or sudden change in plans forces you to cancel or interrupt travel plans, you face two major financial losses: (1) money you�ve invested in nonrefundable prepayments and (2) medical expenses that aren�t covered by your health insurance. That�s why more and more travelers are turning to travel insurance to protect their travel investment.

Why is travel insurance so expensive? top
The cost of travel insurance is based on the value of your trip. The more you have invested in your trip, the more you need to protect it. When you consider all the protection you get, travel insurance is actually a great value.

Why does the policy work on a reimbursement basis? top
As with any type of insurance, there are provisions that must be met before a claim can be paid. Receipts for expenses provide proof of loss and help expedite the claim payment.

Why do you offer the pre-existing condition waiver only within seven days of the initial trip deposit date? top
Waiving the exclusion for pre-existing medical conditions is a valuable benefit to the consumer. If, for example, a traveler is asthmatic and has to cancel a trip because of the condition, he or she will be reimbursed for nonrefundable travel expenses. We offer this as an extra benefit to travelers who purchase our travel insurance within seven days of their initial trip purchase. This gives them ample time to determine whether or not to purchase our travel insurance policy.

When I�m traveling outside the United States and renting a car, will your collision damage waiver (CDW) policy be accepted by the car rental company? top
The collision damage waiver is a cost-effective alternative to expensive insurance offered by rental car companies. In addition, the coverage is primary�that means you only need to file a claim with one company to get reimbursement for covered losses.
While most car rental companies accept the CDW policy, a few won�t. You may want to check with the rental agency prior to purchasing the coverage. If you purchase this optional coverage and the car rental company won�t honor the coverage, the premium can be refunded.

How long does it take to process a claim? top
Most claims are reviewed within 24 hours of receipt. Some companies pay claims the same day as final documentation is received. Most claims can be settled within 10 working days. If proper documentation is not submitted immediately, it could delay the processing of the claim. (Travel Guard International is probably the only travel insurance company that has these standards for claims service.)

Why do you not offer a policy for just medical coverage? top
The coverages and services we offer are based on extensive consumer research. This research indicates that most travelers want comprehensive coverage, so they know they have protection no matter what happens.

I don�t need many of these coverages; I am just interested in trip cancellation. top
Our policy is designed to cover you from the moment you make a deposit until the moment you return home. We provide protection for unforeseen events that actually happen to travelers.

Why are these programs more expensive than the one that is offered by my tour operator, and what are the differences between the programs? top
Tour operators typically offer a cancellation waiver, which is much different than travel insurance. A cancellation waiver really doesn�t qualify as insurance. Instead, the cruise line or tour operator agrees to waive its own cancellation penalties if the client has to cancel his or her trip for a covered reason. These waivers may not cover cancellations within 24 to 72 hours of departure, and most don�t offer trip interruption benefits�if you have to return home during a cruise or vacation, you may not be covered. You also have no coverage if the tour operator or cruise line goes into bankruptcy or financial default. A comprehensive travel insurance policy offers coverage for a wide range of accidents or incidents that may force you to cancel a trip. Travel Guard International, for example, provides coverage for any �unforeseen incident� that is not specifically excluded in the policy.

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