insurance travel
Travel insurance, something that sometimes we avoid. Some
people are thinking that with the purchase of tickets and travel costs are
included in the insurance. And this is true.
But sometimes there are things that happened did not fit
with our desire that occur when we travel. One example airplane crash, accident
cruise ship, train or bus.
One issue the tragedy has brought into focus for us is
travel insurance. After spending thousands of dollars on airfare and a cruise, spending
even more money on insurance is not idea of a good time.
Some important things to note in the travel insurance
1. Only insure what you can’t afford to lose. Not every trip
needs travel insurance. If your potential loss is a few hundred dollars in
airfare, travel insurance is probably not worth the cost or aggravation. On the
other hand, a once-in-a-lifetime $20,000 vacation is worth protecting. In this
way, travel insurance is no different than most other types of insurance.
2. There are many options. Before my research, I assumed
there was just one type of travel insurance. In turns out that there are many
types, including travel insurance for trip cancellation, trip interruption, medical,
lost baggage, evacuation, and flight insurance. My primary concern is trip
cancellation insurance, but there are many options to consider. Many travel
insurance companies offer bundled insurance packages that combine two or more
types of travel insurance.
3. Age matters. Whether it’s medical insurance or trip
cancellation insurance, your physical health is an important factor in
determining a premium. While you won’t have to get a physical like you would
with life insurance, your age will affect the cost of the insurance.
4. Health insurance may not cover you. I was also surprised
to learn that not all health insurance policies, including Medicare, cover you
overseas or on a cruise flying under a foreign flag. The key is to contact your
health insurance provider to find out what coverage you do have when you’re
traveling. Only then can you make an informed decision about this type of
travel insurance.
5. Timing issues. I was surprised to learn from my travel
agent that we didn’t have to decide on travel insurance when we booked our
cruise. In fact, you can buy travel insurance just days before your departure. This
are risks, however, in waiting. Some types of travel insurance may require you
to purchase the insurance within a set time period after you’ve booked your
travel. And for trip cancellation insurance, you won’t be covered if you buy
the insurance after you’ve become ill or the hurricane has wiped out your
vacation destination.
6. Costs vary. It’s wise to compare costs before making a
decision. While your travel agent will have options for you, they may not be
the best or the least expensive. Some of the more well-known travel insurance
companies include Access America,
Travel Guard, and Travel Insured. And you can use sites like insuremytrip.com
to compare travel insurance options.
7. Travel rewards cards won't help. At first I assumed that
a top-notch travel rewards credit card would have some travel insurance. But
apart from limited baggage insurance, accident insurance, and rental car
insurance with some cards, however, travel insurance is not part of the
benefits. If you want trip cancellation or interruption insurance, you'll have
to buy it.
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