Archive for the ‘Travel Insurance’ Category

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Your Travel Insurance Checklist

Friday, June 25th, 2010

Bags packed? Check. Dog dropped off at the kennel? Check. Travel insurance in place? Check?

If you think you are properly prepared for your next extended holiday, but you don’t have adequate travel insurance in place, think again.

From volcanic dust disrupting air travel to earthquakes rocking nearly every corner of the world, travel as of late has been challenging, to say the least. Therefore, the next holiday you plan may go awry. The question is: are you prepared for the worst?

Don’t let your summer getaway turn into a financial nightmare because the unexpected happened.

Instead, make the process of purchasing travel insurance just as important as packing your clothes. Hopefully you won’t need it; but maybe you might.

Although a weekend getaway probably won’t warrant the purchase of travel insurance, any extended vacation, travel abroad or any expensive vacation should have a good travel insurance policy attached to it.

When purchasing travel insurance, here is a quick checklist to make sure you are on track when it comes to travel insurance:

  1. Check to see if you have travel insurance through your credit card, health insurance plan or auto insurance plan. If you do have travel insurance coverage, make sure it is adequate for your needs; otherwise, it is best to purchase additional travel insurance to fully cover you while on holiday.

  2. Don’t assume that all travel insurance offers the same coverage at the same price. Instead, shop around and compare prices and coverage through several different companies to make sure that the product you choose best suits your needs and your budget.

  3. Make sure your travel insurance covers trip cancellation, health insurance (especially good when traveling abroad or when taking a cruise) and financial loss. Although your travel insurance policy will differ depending on the type of travel, the destination and the length of your travel, you should always make sure that your policy covers the abovementioned areas. Keep in mind that travel insurance may also cover baggage loss, weather problems and acts of terrorism.

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Your Top Five Travel Insurance Questions Answered

Friday, June 4th, 2010

Your travel agent recommends it, but do you know what travel insurance really is and why it is so important?

For many individuals, travel insurance is just another travel expense that they are more than happy to pay. Others, however, dismiss it, only to find themselves in a situation where their dream vacation is interrupted and their money is history.

Before you embark on your next trip, take the time to understand and appreciate all aspects of travel insurance and why it really is so important after all.

Here are your top five travel insurance questions:

Q: Where do I purchase travel insurance?

A: There are many companies that sell travel insurance, although the better known companies include American Express, Travel Guard and Access America. Whatever company you decide to purchase travel insurance through, make sure they have a solid reputation and a strong financial past. Remember: a travel insurance policy is only as good as the company that issues it, so take the time to find a good company through which to purchase your travel insurance. Your travel agent will likely recommend a particular company, too.

Q: What does a travel insurance policy cover?

A: Although each travel insurance policy will differ slightly based on their coverage, in general most travel insurance companies cover lost luggage, emergency medical care, terrorism, natural disasters and bankrupt companies. It is important to thoroughly read your travel insurance policy so that you fully understand what is, and isn’t, covered under your policy.

Q: Is travel insurance really necessary?

A: That all depends on your luck. However, when you consider the happening of just this past year, including volcanic ash, the H1N1 virus, and a number of hurricanes and floods, it really is taking a gamble not to purchase travel insurance.

Q: Why do I need to purchase medical care through a travel insurance policy? Shouldn’t my health insurance policy cover my medical expenses while on holiday?

A: Your regular health insurance policy may cover your healthcare while overseas, but many times it does not. In addition, emergency medical coverage through a travel insurance policy will be able to cover airlifting you off a cruise ship for an emergency appendectomy; your standard health insurance policy will not.

Q: Who needs to purchase travel insurance?

A: Anyone who wants to protect their investment should take out travel insurance. Remember: vacations can be expensive!

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Protect Yourself and Enjoy Your Travels with a Little Extra Peace of Mind

Thursday, March 18th, 2010

You want to take that dream trip. Plans are underway and your anticipation is mounting. What could possible go wrong? It’s not something we really want to think about when planning a fun and exciting vacation, but here it the real world, things do go wrong. Fortunately, there is a great way to plan ahead for those unfortunate what ifs that might creep up before and during your vacation! Travel insurance.

What Is Travel Insurance?

Travel insurance is an insurance policy that gives you some added peace of mind as you head out on that longed-for trip. It covers both domestic and international travel and has many perks that will cover most any thing that could go wrong. That way, you can enjoy your trip, knowing that whatever happens, you got it covered.

Coverage

There are travel insurance policies to cover both domestic and international travel, as mentioned before. There are policies for individual travelers, families and large groups. The insurance will cover minor things like lost passports, trip cancellations/interruptions and lost luggage. It will also cover major things like medical emergencies and transportation issues, among other travel services, and will even provide you with 24 hour assistance each and everyday.

There is a wide array of travel insurance options. For the most active of travelers, there are even more options. You will even find policies that will offer coverage for special equipment you may take with you, such as your golf clubs or scuba gear.

For those with special medical needs or who might anticipate special medical situations, you can go beyond the regular medical coverage and choose a specific plan best suited to meet your medical needs.

Plans are very flexible and can be built to suit your trip and preferences. You will even find specialized plans that offer airfare coverage, rental car coverage, extreme adventure coverage, sportsman’s coverage and much more. If you have a child or two or more that you plan to bring along, some plans offer additional coverage for kids age 17 and under at no extra cost.

Whatever your plans and your specific needs, that added sense of protection from a travel insurance policy is a great way to make the most of your trip. It’s well worth the expense, whether you end up needing it or not, but should you need it, you’ll be glad you had the foresight to purchase travel insurance before your trip.

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Don’t Leave Home without them: the Necessities for any Vacation

Friday, March 12th, 2010

There is nothing quite as relaxing as a vacation away from all of the stressors of life. However, it is important to be prepared for your next vacation so that it goes smoothly.

Here is our list of must-haves you simply can’t leave home without:

  1. Identification - It may seem like a no-brainer to bring your identification, but in the hustle and bustle of preparing to leave, you may have forgotten this one important piece of information. Your identification will be needed if you rent a car, board an airplane or simply head out of town for a road trip, so make sure you have it with you before you leave the house!

  2. Extra credit card - An extra credit is essential, especially if you plan on using credit cards during your trip. If, for some reason, you are unable to use your primary credit then you will need a backup. You definitely don’t want to be caught away from home without your credit cards, so always remember to carry at least two. In addition, contact your credit card company before you embark on your trip to let them know that you will be posting charges from another part of the country or world. You should also check to make sure your account is active and that you have a high credit limit to cover the expenses of the trip.

  3. An essentials bag - Everyone should pack an essentials bag when they travel. Your essentials bag should include everything in it that you would need in case of an emergency. Your essentials bag should include your identification; your passport; your wallet and money; and any medications or personal care items that are of importance. It is also important to keep your essentials bag with you at all times; do not check it with your other luggage when flying and don’t leave it in the hands of a bellman.

  4. Travelers Insurance - A vacation wouldn’t be complete without comprehensive travelers insurance. A comprehensive travelers insurance policy is a must for an extended holiday or overseas vacation, and it is a must for any individual who does not want to risk losing their hard-earned cash in case of travel problems. Don’t forget to bring along the contact information for your travel insurance policy with you when traveling.

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What your Travel Insurance may not Cover

Wednesday, March 3rd, 2010

We all expect a comprehensive travel insurance policy when we purchase it but, in reality, there are a number of things that aren’t covered under a standard travel insurance policy. Although most of us will never find ourselves in the following situations, it is important to point out the situations in which a travel insurance policy may be null and void:

  • Swine Flu and other Pandemics - Did you know that your travel insurance policy will not likely cover a pandemic breakout? For example, the swine flu breakout in Mexico last year left many travelers out of luck when it came to canceling their trip due to the dangers of traveling there during the breakout. So, don’t expect a return of your trip expenses if you find yourself unable to travel to your destination (or if you must leave early) due to a pandemic outbreak.

  • Visa Denial - If you have already booked your vacation and paid for your plane ticket you will likely not be covered if you must cancel your trip because your visa was denied. Some airline companies will provide a refund in these situations, but generally most insurance companies will not provide you with a refund if your visa application was denied. In short, make sure your visa is in good order before booking a trip.

  • Terroristic Threats or Attacks- Most travel insurance companies will not provide a refund if you cancel your trip due to a terroristic threat or attack. Unfortunately, the issue of terroristic threats and events are something we all must face in today’s world.

  • Weather Inconveniences - If you have a fantastic ski trip planned, but the weather doesn’t cooperate and there is no snow to be had, don’t expect a return on your investment through your travel insurance policy. Unfortunately, inclement weather inconveniences are simply part of the risk you take when booking a vacation. Whether it’s stormy weather on your Caribbean cruise or a rainy ski holiday, your travel insurance will do you no good when it comes to poor weather conditions.

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Preparing for a Road Trip: What you can’t afford to Leave Behind

Friday, February 26th, 2010

A road trip can be a great experience; the open road, the sunshine and the excitement of visiting new places. However, without the proper items, you could be left in a lurch if your road trip doesn’t turn out as planned.

Before embarking on your next road trip, make sure you have a few essentials:

  1. A cell phone - A cell phone is, without a doubt, one of the most important things you can have with you on a road trip. Make sure it is in good working and make sure that you also have a car charger to keep it charged while traveling.

  2. A roadside assistance membership - A roadside assistance membership is a useful tool for motorists, especially when traveling away from home. Before you leave on your trip, it may be a good idea to contact the company through which you have the membership to make sure your membership is active and to make sure it is valid in other parts of the country. Also, don’t forget to bring along the contact information of the company; it is often best to keep the number of the roadside assistance company in the glove compartment of your vehicle.

  3. Bottled water and snacks - In case of an emergency, it is always important to have at least a one or two day’s supply of water and food. If your trip involves back roads or if you know you may be traveling in remote locations, it is essential to make sure you have enough food and water in case you become stranded or lost.

  4. A comprehensive auto insurance policy - A comprehensive auto policy may just be the most important thing you bring along with you when traveling. Regardless of what happens on the road or what troubles you find yourself in as a result of an accident, a good auto insurance policy will surely come into play. Check your auto insurance policy’s terms and conditions before embarking on your trip so that you will be aware of your rights should you become involved in an auto accident.

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Common Travel Insurance Mistakes - Restrictions and Denials

Thursday, February 4th, 2010

Travel insurance can be your best friend when traveling, but if you don’t know the ins and outs of travel insurance then you could be setting yourself up to lose a lot of money in the form of travel insurance restrictions and denials.

Here is a list of the most common travel insurance mistakes to avoid:

  • Not understanding travel insurance restrictions - Every travel insurance policy will have its own set of restrictions. It is therefore up to you to read and understand these restrictions to make sure the policy you choose is right for you and the trip on which you are embarking. Many times, individuals will take out a travel insurance policy, only to find out the policy didn’t cover something major until their claim is denied.

  • Paying more attention to the bottom line than the coverage -  Because there are a number of different levels of travel insurance that you may purchase, your first instinct may be to choose the least expensive. However, purchasing the least expensive policy can end up costing you much, much more if you must submit a claim for damages or monetary losses. In the end, it pays to look at coverage before you look at price.

  • Taking part in activities not covered - Activities deemed by the insurance company to be dangerous are typically not covered under a standard travel insurance policy; therefore, if you become injured when participating in one of these activities, it will likely not be covered. If you know that you might engage in any dangerous activity - from skydiving to parasailing to water skiing - you will probably want to take out additional travel insurance to cover this.

  • Engaging in illegal activities - Participation in any sort of illegal activity will certainly make your travel insurance policy null and void. In other words, damage to a vehicle and injury to yourself because you chose to drink and drive, for instance, will result in the loss of any coverage under your travel insurance policy.

  • Not going through the proper channels - Travel insurance policies typically have a set of rules that you must follow to submit a claim. If you fail to go through the proper channels you may be unable to collect money for your losses.

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Exploring the Different Types of Travel Insurance

Tuesday, January 12th, 2010

Travel insurance isn’t a luxury - it’s a must. Most of us enjoy vacations only after saving our money for quite some time; so it only makes sense that you take the proper precautions to protect your investment.

Choosing travel insurance is generally easy, provided you have the information needed to make an educated, well-informed decision. However, there are different types of travel insurance for different types of travel, so it pays to consider your options regarding travel insurance.

Types of Travel Insurance

  • Trip Cancellation/Trip Interruption Insurance - This type of insurance protects you against any unforeseen events and circumstances that prevent you from going on your trip or finishing your trip. Most travel insurance policies that offer trip cancellation/trip interruption insurance allow you to cancel your trip due to: your illness or injury or the death, injury or illness of an immediate family member; a change in your financial status; and war or civil unrest.  Some travel insurance companies allow you to cancel for any reason.

  • Medical Insurance - Medical insurance is an incredibly important type of travel insurance, particularly when traveling outside of the country. Medical insurance may include the evacuation to a medical facility or back to the United States in the event of a serious illness or injury. Anyone on a cruise or anyone traveling to a remote destination will certainly benefit from medical insurance.

  • Flight Delay or Cancellation Insurance - If your trip is delayed or canceled due to circumstances beyond your control, flight delay or cancellation insurance is used to cover hotel stays, meals and alternative travel arrangements after your travel has been delayed for a certain period of time.

  • Baggage Loss and Delay Coverage - This type of coverage protects you in the event that your luggage is lost or stolen.

  • Travel Document Protection - Travel document protection in your travel insurance protects you in the event that your passport or other important documents are lost or stolen while on holiday.

  • Adventure and Extreme Sports Travel Coverage - If you are embarking on an adventure holiday then you are best suited for adventure and extreme sports travel coverage, as standard policies generally do not protect you when participating in extreme sports, such as rock climbing and scuba diving.

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When to Consider Extra Medical Insurance with your Travel Insurance Policy

Wednesday, December 30th, 2009

The next time you set sail on a luxury cruise, consider what you would do in case of a medical emergency. In particular, consider if your medical insurance will cover your expenses.

Will your medical insurance cover the cost of medical evacuation, emergency treatment and a hospital stay? Well, in the case of cruises and other overseas trips, don’t bet on it.

In fact, as soon as you exit a U.S. port, you are more than likely considered to in overseas waters, which means that your U.S. medical insurance won’t get you very far.

Planning Ahead

Take a recent example of an older couple (in their mid 70s) who were traveling abroad when the husband became seriously sick with a perforated colon.  After the initial emergency room visit, the couple decided to arrange for a medical evacuation from their cruise ship to a United States hospital. The total cost of their out-of-pocket expenses was just $300. However, if they didn’t think ahead and purchase comprehensive travel insurance they could have wound up paying a medical bill of over $20,000.

A good, comprehensive travel insurance policy should include medical services and hospitalization, particularly when traveling abroad. These additional medical services are designed to reimburse any expenses that your standard medical insurance does not. Comprehensive travel insurance is also designed to cover the cost of your trip or part of your trip if you are not able to enjoy it due to an illness or injury.

If you plan to travel abroad and you don’t need full travel insurance, you may also secure a stand-alone policy that covers medical care and medical evacuation. It is important to realize that standard travel insurance policies do not cover the cost of medical evacuation, so consider adding this practical policy onto your travel insurance policy.

Before departing on your next overseas holiday, remember the following:

  • Contact your health insurer and ask about their coverage while traveling abroad.  Once you have this information you can then determine how much coverage and which type of coverage you will need.
  • Check travel insurance websites and compare policy prices and coverage. There are also several websites that allow you to compare a variety of travel insurance policies, side by side, according to prices and benefits.
  • Once you have purchased travel insurance, keep all information related to your policy, as well as important phone number of the company, close at hand while traveling.

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Winter Travel Disasters: When your Travel Insurance will Cover Them

Tuesday, December 29th, 2009

We all love to visit our families, friends and loved ones during the winter holidays, which means that more often than not we encounter unpleasant weather conditions along the way.

From broken down trains to canceled flights and horrible road conditions, even the best laid plans for visiting our friends and family can go asunder when it comes to winter travel.

If your travel plans are interrupted because of inclement winter weather, are your expenses covered? If you have comprehensive travel insurance, then the answer may certainly be “yes.”

However, at what point can you receive a reimbursement or compensation from your travel insurance company?

  • A bankrupted airline - Most travel insurance policies will not, unfortunately, cover the cost of your travel if your airline goes under.

  • A delayed flight - If your flight has been delayed due to inclement weather, your standard travel insurance will most likely reimburse you. Most policies include some fine print about the number of hours you must be delayed in order to receive compensation, so check your policy beforehand. Typically, a travel insurance policy will cover the cost of food and accommodations during your delay.

  • A canceled flight - If your flight has been canceled, your travel insurance will likely not provide you with compensation; however, it is important to point out that the airline will likely offer a refund or alternative travel arrangements in this case.

  • Illness - If you become too sick to travel due to flu or virus, your travel insurance policy will likely cover the cost of your travel. Likewise, if your travel companion is too sick to travel, you may also be covered under your travel insurance policy.

  • Trip abandonment - If you decide to cancel your trip due to hazardous weather conditions or a severe airport delay, you may or may not be covered under your insurance policy. Most insurers will demand that a variety of circumstances take place before they will cover an abandoned trip, so check with your insurer before you make any decisions.

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