Purchasing a comprehensive policy from a travel insurance carrier who offers emergency cash overseas is one of the most important decisions a traveler can make. The security of being able to access emergency cash from overseas has extreme importance for business travelers, students and anyone traveling overseas. In emergency situations and unexpected conditions related to theft, muggings and burglaries, access to emergency cash will ensure you can continue your trip and pay for meals, accommodations and other expenses. When travelers are robbed of cash, traveler’s checks and personal documents, a travel insurance carrier can arrange emergency cash advances from a variety of sources.
Three of the most popular cash advance services available overseas include emergency loans, travelers checks and cash transfers from friends and family. To be eligible for emergency cash advances, travelers must have an official police report for incidents of theft, muggings and burglary of cash from a hotel safe or from your person. If your wallet was left unattended and stolen from a public storage area, you may not be eligible for emergency cash. Depending on your policy and coverage details, emergency cash advance loans are typically available for several hundred dollars, which must be repaid to your carrier.
If you carry traveler’s checks on international trips, your travel insurance carrier can arrange for replacements through the issuing agency. In other situations, a travel insurance carrier can purchase new traveler’s checks using your existing credit cards. After a pick pocketing incident or mugging, the ability to purchase new travelers checks or order replacements with one phone call from anywhere in the world can be a real vacation saver. Travelers typically receive emergency cash within 24 hours.
An international travel insurance carrier can also arrange emergency cash advances and wire transfers from friends and family back home. With international messaging services, your travel insurance carrier can relay emergency messages to friends, family members, co-workers and business via phone or email explaining your situation. In the worst case scenario, a travel insurance carrier can help arrange emergency bail bonds and other financial assistance overseas.
On any trip, emergency cash benefits are a great thing to have included with your travel insurance carrier. For convenience, most travel insurance carriers offer multiple cash advance options after a robbery or mugging, including formal cash advance loans, local currency, traveler’s checks and international wire transfers from family members or associates back home. Policyholders can apply for a cash advance up to the policy limit or per-person limit stipulated in the plan’s terms. Choosing a travel insurance carrier who offers comprehensive benefits and emergency cash advance services is important for the convenience, freedom and financial security of all travelers.