Your Ultimate Travel Insurance Glossary: Terms starting with L

Glossary on Travel Insurance Terms starting with L

 Understanding travel insurance can be complex, but knowing the key terms and concepts can simplify the process. This glossary is designed to answer essential questions about travel insurance, such as “What is included in travel insurance?” and “What is LTA in travel insurance?” It covers a wide range of topics, from the most common type of travel insurance to specifics like global travel protection and what “worldwide” means in the context of coverage.

Whether you're curious about the duration of travel insurance, what international and domestic policies cover, or what travel insurance does not cover, this guide has you covered. Discover the different types of travel insurance, the importance of having coverage, and how global travel insurance terms apply, especially with considerations for COVID-19.

With clear explanations and examples, you’ll learn about global travel policies, what is covered in international travel insurance, and how to obtain the right travel insurance for your needs. Dive into our glossary to gain a comprehensive understanding of travel insurance and make informed decisions for your next trip.

To help you decode this complex landscape, we've compiled a comprehensive glossary from A to Z. Whether you're a seasoned traveler or a first-time explorer, this guide will equip you with the knowledge you need to understand and make the most of your travel insurance coverage.

A	B	C	D	E	F	G	H	I	J
K	L	M	N	O	P	Q	R	S	T
U	V	W	X	Y	Z

1. Loss: In the context of travel insurance, loss refers to the financial harm or damage suffered by the insured traveler due to unforeseen events such as trip cancellations, medical emergencies, or lost baggage.
2. Luggage: Luggage refers to the personal belongings, baggage, and items carried by travelers during their trip. This may include suitcases, backpacks, carry-on bags, and other containers used to transport belongings.
3. Luggage Delay: Luggage delay coverage provides reimbursement for essential items purchased by travelers in the event that their checked luggage is delayed by the airline or transportation provider for a specified period, typically ranging from 12 to 24 hours.
4. Limitations: Limitations are the maximum amounts or thresholds set by the travel insurance policy for specific benefits or coverage categories. These limitations may vary depending on the type of coverage and the terms of the policy.
5. Liability: Liability refers to the legal responsibility or obligation of the insured traveler for damages, injuries, or losses caused to others during their trip. Travel insurance policies may include personal liability coverage to protect against such claims.
6. Late Arrival: Late arrival coverage reimburses travelers for additional transportation expenses incurred due to a delayed arrival at their destination, such as missed connections or alternative transportation arrangements.
7. Lost Passport: Lost passport coverage provides assistance and reimbursement for expenses related to obtaining a replacement passport if the insured traveler's passport is lost or stolen during their trip.
8. Legal Assistance: Legal assistance coverage offers support and financial assistance to travelers in obtaining legal advice or representation in case of legal issues or disputes arising during their trip, such as rental car accidents or personal injury claims.
9. Local Emergency Assistance: Local emergency assistance services provide travelers with access to 24/7 assistance hotlines, local resources, and emergency support in the event of medical emergencies, accidents, or other urgent situations during their trip.
10. Layover: A layover refers to a stopover or intermediate break in travel itinerary where travelers may have to wait at an airport or transit hub before boarding their connecting flight or continuing their journey to the final destination.
    
    
    
11. Living Expenses: Living expenses coverage reimburses travelers for additional accommodation, meals, and transportation expenses incurred if they are unable to return home as planned due to covered events such as flight cancellations, natural disasters, or medical emergencies.
12. Lost Baggage: Lost baggage coverage provides reimbursement for the value of personal belongings and luggage items that are lost, stolen, or damaged during the insured traveler's trip. This coverage typically includes both checked and carry-on baggage.
13. Lost Item: Lost item coverage reimburses travelers for the value of specific personal belongings that are lost or stolen during their trip, such as electronic devices, jewelry, or valuable items. This coverage may have certain limitations and exclusions based on the policy terms.
14. Land Travel: Land travel refers to transportation methods that involve traveling over land, such as car rentals, bus tours, train journeys, or guided excursions. Travel insurance policies may offer coverage specific to land travel activities and associated risks.
15. Lapse in Coverage: A lapse in coverage occurs when the travel insurance policy expires or is terminated before the end of the insured traveler's trip. It is important for travelers to ensure continuous coverage throughout their entire travel duration to avoid gaps in protection.
16. Legal Expenses: Legal expenses coverage provides reimbursement for legal fees, court costs, and related expenses incurred by the insured traveler in the event of legal disputes, lawsuits, or claims arising during their trip, such as liability claims or contractual disputes.
17. Local Currency: Local currency refers to the official currency used in the destination country or region where the traveler is visiting. Travel insurance policies may offer coverage for currency exchange losses or theft of local currency during the trip.
18. Level of Coverage: The level of coverage refers to the extent and scope of protection provided by the travel insurance policy for various benefits and coverage categories. Travelers can choose different levels of coverage based on their individual needs and preferences.
19. Loss of Income: Loss of income coverage reimburses travelers for lost wages or income resulting from covered events that prevent them from working during their trip, such as illness, injury, or jury duty.
20. Luxury Items: Luxury items are high-value personal belongings or possessions carried by travelers during their trip, such as designer clothing, electronics, or expensive accessories. Travel insurance policies may offer coverage for lost, stolen, or damaged luxury items, subject to certain limitations and exclusions.
21. Luggage: Luggage refers to the suitcases, bags, and other containers used by travelers to transport their belongings during a trip. Travel insurance policies typically provide coverage for lost, stolen, or damaged luggage, including both checked and carry-on items.
22. Luggage Delay: Luggage delay coverage reimburses travelers for essential items purchased during a delay in the delivery of their checked luggage by the airline or transportation provider. This coverage helps cover the cost of purchasing clothing, toiletries, and other necessities while waiting for the delayed luggage to arrive.
23. Liability Coverage: Liability coverage provides protection for the insured traveler against claims or lawsuits filed by third parties for bodily injury or property damage caused by the traveler's actions or negligence during the trip. This coverage may extend to legal expenses and settlement costs.
24. Late Arrival: Late arrival coverage compensates travelers for additional expenses incurred due to arriving late at their destination, such as missed hotel reservations, tour bookings, or pre-paid activities. This coverage may be triggered by flight delays, transportation mishaps, or other covered events.
25. Local Laws and Regulations: Local laws and regulations refer to the legal requirements and restrictions imposed by the government or authorities in the destination country or region where the traveler is visiting. Travelers are expected to comply with local laws and regulations while traveling abroad.
26. Long-Term Travel Insurance: Long-term travel insurance provides extended coverage for travelers planning to embark on extended trips lasting several months or more. This type of insurance may offer benefits such as comprehensive medical coverage, trip cancellation protection, and emergency assistance services for long-term travelers.
27. Loss Ratio: The loss ratio is a financial metric used by insurance companies to assess the profitability and risk exposure of their insurance policies. It represents the ratio of incurred claims and losses to the total premiums collected by the insurer within a specific period.
28. Loss Prevention: Loss prevention refers to proactive measures and strategies implemented by travelers to minimize the risk of loss, theft, or damage to their personal belongings and property during a trip. This may include securing valuables, using travel locks, and practicing situational awareness.
29. Legal Jurisdiction: Legal jurisdiction refers to the geographic area or territory where legal disputes or claims arising from a travel insurance policy are adjudicated or resolved. The legal jurisdiction is typically specified in the policy terms and conditions and may impact the resolution of disputes between the insured traveler and the insurance company.
30. Lost Passport Assistance: Lost passport assistance provides travelers with support and guidance in the event that their passport is lost, stolen, or damaged during their trip. This assistance may include facilitating the replacement of the passport, providing information on embassy or consulate locations, and assisting with necessary documentation for re-entry to the traveler's home country.
    
    
    
31. Luxury Travel Insurance: Luxury travel insurance offers specialized coverage and services tailored to the unique needs and preferences of high-end travelers. This type of insurance may provide enhanced benefits such as coverage for expensive personal belongings, high-value trip cancellations, and access to premium concierge services.
32. Legal Expenses: Legal expenses coverage reimburses travelers for the costs associated with legal proceedings or litigation arising from covered events during their trip. This may include attorney fees, court costs, and other legal expenses incurred in defending against legal claims or lawsuits.
33. Living Expenses: Living expenses coverage provides reimbursement for additional accommodation and meal expenses incurred by travelers in the event of a covered trip delay, interruption, or cancellation. This coverage helps mitigate the financial impact of unexpected delays or disruptions to travel plans.
34. Loss of Income: Loss of income coverage compensates travelers for income lost as a result of a covered event that prevents them from completing their trip or returning to work as planned. This may include reimbursement for missed work days due to illness, injury, or other covered reasons.
35. Level of Care: The level of care refers to the standard and quality of medical treatment and assistance available to travelers in the event of a medical emergency or illness during their trip. Travel insurance policies may provide different levels of coverage and access to medical care based on the plan selected.
36. Local Currency: Local currency is the official currency used in the destination country or region where the traveler is visiting. Travelers may need to exchange their home currency for local currency to make purchases, pay for services, or conduct financial transactions while abroad.
37. Limit of Liability: The limit of liability is the maximum amount of coverage provided by an insurance policy for a specific type of loss, claim, or event. Travel insurance policies typically specify the limits of liability for various benefits and coverages, such as medical expenses, trip cancellation, and baggage loss.
38. Loss Adjuster: A loss adjuster is a claims professional employed by an insurance company to investigate and assess the extent of losses or damages reported by policyholders. The loss adjuster evaluates the validity of claims, gathers evidence, and determines the appropriate amount of compensation to be paid to the insured party.
39. Landmark: A landmark is a prominent or recognizable feature, location, or point of interest in the destination country or city visited by travelers. Landmarks may include historical sites, natural landmarks, architectural landmarks, and cultural attractions that are popular tourist destinations.
40. Leisure Travel Insurance: Leisure travel insurance provides coverage for individuals or families traveling for non-business purposes, such as vacations, holidays, or recreational trips. This type of insurance typically includes benefits such as trip cancellation, emergency medical assistance, baggage loss, and travel delay coverage.
41. Late Arrival: Late arrival refers to a situation where a traveler arrives at their destination later than originally scheduled due to delays or disruptions in their travel plans. Travel insurance policies may provide coverage for additional expenses incurred as a result of late arrival, such as transportation, accommodation, or meal costs.
42. Layover: A layover, also known as a stopover or transit, is a temporary break in a traveler's journey where they remain at an intermediate airport or destination for a specified period of time before continuing their journey to the final destination. Layovers may occur due to flight connections, scheduling constraints, or itinerary adjustments.
43. Loss Ratio: The loss ratio is a financial metric used by insurance companies to assess the profitability and performance of their underwriting operations. It represents the ratio of incurred losses (claims paid out) to earned premiums (premiums collected) over a specific period of time. A low loss ratio indicates favorable underwriting results, while a high loss ratio may signal potential financial risk for the insurer.
44. Lien: A lien is a legal claim or encumbrance placed on property or assets as security for the repayment of a debt or obligation. In the context of travel insurance, a lien may arise when an insurance company has a right to recover expenses or payments made on behalf of a policyholder, such as medical bills or emergency assistance costs.
45. Lost Baggage: Lost baggage refers to luggage or personal belongings that are misplaced, misdirected, or unable to be located by the traveler upon arrival at their destination. Travel insurance policies may offer coverage for lost baggage, including reimbursement for the value of lost items, replacement costs, or compensation for essential purchases until the luggage is recovered.
46. Layoff: Layoff is a term used to describe a temporary or permanent termination of employment by an employer, resulting in the cessation of income for the affected employee. Some travel insurance policies may provide coverage for trip cancellation or interruption due to unexpected layoffs, allowing travelers to recoup non-refundable trip expenses.
47. Land Tour: A land tour, also known as a land package or ground tour, refers to a travel itinerary that primarily involves activities and accommodations on land, as opposed to cruises, flights, or other modes of transportation. Land tours often include guided sightseeing, cultural excursions, and stays at hotels or resorts in various destinations.
48. Local Laws and Regulations: Local laws and regulations refer to the legal statutes, ordinances, and rules enforced by governmental authorities within a specific jurisdiction or region. Travelers are expected to comply with local laws and regulations while visiting foreign countries or destinations, including immigration laws, customs regulations, and traffic laws.
49. Lodging: Lodging refers to accommodations or housing arrangements for travelers during their stay away from home. Lodging options may include hotels, motels, resorts, bed and breakfasts, vacation rentals, hostels, or camping facilities. Travel insurance policies may provide coverage for lodging expenses in the event of trip cancellation, interruption, or delay.