Archive for the ‘Travel Insurance’ Category

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The Top Four Scenarios that prove why Travel Insurance is a Necessity

Monday, December 14th, 2009

If you are one of those individuals who think travel insurance is a waste of time then you may want to read the rest of this article.

Travel insurance, in short, protects your investment. After all, losing all of your deposits and your airline tickets because you didn’t plan ahead and purchase travel insurance doesn’t feel too great.

If you think travel insurance is only for destinations where natural disasters may strike, think again. Here are some worst-case scenarios in which travel insurance may save you a bundle:

  1. You’re packed and ready to go on a wonderful family vacation to Disney World, and the night before you’re due to leave your son walks into your bedroom with a red-hot forehead and a serious case of chickenpox. Traveling and vacationing are clearly out of the question, and you have four, non-refundable plane tickets to Orlando. If you have adequate, comprehensive travel insurance, fear not. Simply report the claim and re-book the trip for a time when chickenpox isn’t running rampant in your household.

  2. You’ve booked a relaxing cruise and the flight to your port is delayed for hours because of a terrible storm. As a result, you miss your cruise departure. Without travel insurance, you can kiss your cruise good-bye, along with all of the money you shelled out to book it. However, comprehensive travel insurance will refund your money so that you can re-book your cruise.

  3. Your tropical vacation is put on hold because of a hurricane blowing through the Atlantic. There’s no way you’re getting anywhere near the island anytime soon, so what do you do with airline tickets and hotel deposits? Well, if you have adequate travel insurance you can be reimbursed for all of your lost expenses so that you can plan for another tropical vacation - minus the hurricane.

  4. You’ve finally embarked upon your European holiday only to have your pocketbook - with your passport and wallet in it - stolen while you are out of the country. Comprehensive travel insurance often comes with emergency service, which includes expediting a passport replacement and providing you with much-need cash so you can resume your vacation.

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Are you Underinsured for Travel Insurance?

Monday, December 7th, 2009

You are the responsible traveler: you pack days in advance; you make a clear list of things to do before embarking on your trip; you check and double-check your itinerary and flight arrangements; you always remember to bring an extra memory card for your camera; and of course you always buy comprehensive travel insurance.

Would you be surprised to find out that you may be underinsured? It’s important for everyone to consider that they may just be paying too much for their travel insurance and not getting the coverage that they need in return.

It’s true! Many individuals purchase travel insurance without really reading the fine print, only to find themselves in a precarious - and expensive - situation while traveling.

The fact of the matter is that not having adequate travel insurance can cost you time, money and even your health.

An underinsured traveler may find him or herself:

  • Paying out of pocket for emergency medical treatment - from emergency room treatment, to tests, blood work and hospital stays
  • Paying out of pocket to return home unexpectedly - if your travel plans change and you must return home early, you may have to pay out of pocket for your flight and other travel arrangements
  • Paying out of pocket for legal counsel overseas - if you find yourself in a situation where legal counsel is needed, such as a personal liability suit, you may need to secure legal counsel and pay for it out of your pocket
  • Paying for an emergency medical evacuation
  • Losing money from lost wages

It is because of this that you must read and re-read your travelers insurance policy carefully, particularly if you are traveling abroad. Being stuck in a foreign country without the money or insurance coverage to pay for medical expenses, legal expenses and travel expenses can be devastating, and can even inhibit an individual’s ability to return home.

Before you leave for your travel destination, take the time to read the fine print of your travel insurance policy and contact the insurance company if there is anything in the policy that you don’t understand. Remember that it is up to you to understand your policy and make sure that you are adequately insured. If you fail to make sure that you have secured the proper travel insurance you could end up in a difficult situation and without any money.

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How to Find the Best Travel Insurance Policy for your Next Trip

Tuesday, November 24th, 2009

Vacationing is an activity enjoyed by millions of people across the country. Traveling is exciting, adventurous - and expensive! It is because of this that many people choose to purchase travel insurance before planning and paying for an expensive trip.

Although all you may be thinking about your next trip is the fun you are going to have, you must remain realistic and protect yourself in case any misfortunes arise.  To do this, you need to purchase comprehensive travel insurance so that your investment will be protected and your next vacation will be worry-free:

  • Choose a company that is trusted and has established a positive reputation. Check with the Better Business Bureau and ask friends and family members for referrals.

  • Choose a policy based on the length of your trip and the items that will be covered. If your trip is extensive, check out long-term travel insurance policies to protect you throughout the entire duration of your trip. Individuals that travel frequently throughout the year may choose to purchase a long-term policy and renew it on an annual basis.

  • Ask for quotes from a number of travel insurance companies before deciding which one best fits your budget and your needs. Many factors may influence the cost of travel insurance, so be sure to provide the travel insurance company with plenty of information so that you can get the most accurate quotes possible. Some of the factors that influence the price of travel insurance include: the length of the trip; the cost of the trip; your age; your health, including pre-existing medical conditions; and the time you may spend overseas.

  • Consider the deductibles for your travel insurance policy and choose one that best meets your financial needs. You can choose a policy that has a deductible anywhere from $0 to $2,500, depending on the risk you want to take.

  • Consider the policy’s maximum coverage. Depending on your comfort level, you may choose a policy with a maximum coverage of anywhere between $20,000 to more than $100,000.

  • You may need to take out additional travel insurance if you plan on partaking in special activities, such as adventure sports.

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Travel Insurance Insights: Extending Coverage for Repatriation of Remains

Thursday, November 5th, 2009

While vacations are typically intended to provide travelers with a break from the day to day stress of standard living, it is often ideal for travelers to hope for the best while preparing for the worst!  Although not the most pleasant of thoughts, some travelers with specific health conditions, risks, or other personal concerns may benefit from purchasing travel insurance protection that includes coverage for repatriation of remains.  If for any reason your death, or the death of a loved one included in your policy, occurs while you are away on your travels, your repatriation of remains protection can ease financial burdens to family members of the deceased.

Benefits of Repatriation of Remains Insurance

Essentially, with repatriation coverage, an insurance provider will pay for the costs associated with returning remains of the deceased back to one’s country of residence.  As the returning of remains from a travel destination back to one’s place of residence can be incredibly costly, investing in coverage for such an incident may be ideal for many individuals and families.

Adding to the coverage for the repatriation of remains, many travel insurance policies with this specific coverage feature extend their benefits to additionally offer coverage for various other related costs.  Some of the potential related coverage features may include:

  • Emergency medical attention / expenses
  • Emergency medical evacuation
  • Accident death / dismemberment

Do I Need Repatriation of Remains Coverage?

While any traveler can benefit from various features of travel insurance policies, those who may most significantly benefit from repatriation benefits commonly include individuals with specific health problems, disorders, or risks, as well as individuals who frequently travel for work or leisure.  Additionally, individuals planning to travel for a vacation that includes potentially hazardous and / or dangerous activities should also opt for coverage as well.  For example, if heading for a mountain climbing excursion, higher grade white water rafting trips, or other forms of potentially dangerous destinations, then coverage can certainly help protect your loved ones from any unfortunate accidents and unforeseen events.

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Worried About Job Security? How Travel Insurance Can Protect Your Investments

Tuesday, November 3rd, 2009

If you are planning to make travel arrangements for an upcoming vacation or professional visit, protect yourself from financial setbacks by investing in a travel insurance policy that compensates for cancellations due to the loss of employment.

Benefits of Travel Insurance Employment Loss Features

As the economic climate has been undoubtedly tumultuous for the past year, many individuals hoping to plan a trip feel reluctant to do so in light of potential job instability.  Since the sustainability of the tourism and travel industry depends upon travelers to maintain their stability and success, many travel insurance companies have created insurance policies that allow travelers to cancel their plans for a reimbursement if their employment is terminated.

Ideal Candidates for Job Loss Travel Insurance

If you’re currently already in an employment situation that seems rather unstable, then, needless to say, you are probably not making any major plans to travel to a far off destination for the annual family vacation; however, if you are in a stable employment position, yet are troubled by the state of the economy and its potential impact on your employment, then the leaders of the travel industry want to attempt to offer you a bit of freedom from some of the anxiety.  Instead of canceling your leisure plans, annual family trips, or travels to attend various functions, most travel insurance policies offering compensation for cancellations due to job loss can reimburse you for up to 75 percent of your initial travel costs and investments.  While individual reimbursements will vary, depending on the details of the trip and the specific terms of the insurance policy, individuals can save hundreds to thousands of dollars by opting for coverage.

While many travelers opt to purchase coverage for their personal vacations, many individuals are being forced to make travel arrangements in search of a new job or employment position.  As a result, an individual can have plans to travel to a multitude of cities-yet, once the individual is hired by one of the potential employers, he / she no longer needs to fulfill the original plans for the ongoing job-hunt.  Fortunately, if travel plans need to be canceled due to circumstances as such described, many policies allow clients to “Cancel for Any Reason” in order to receive compensation and reimbursement.  Commonly titled as an “Employment,” “Job Loss,” or a “Cancel for Any Reason” clause, these features can protect individuals from the less controllable issues of everyday professional life.

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Insurance and Auto Accidents: A Step by Step Guide for Success

Monday, October 26th, 2009

Whether or not you have experienced an accident in the past, it is important to review the step by step suggestions for optimal safety and insurance compensation.  By adhering to the suggested practices, your auto insurance company will be able to provide you with potentially faster and more ideal service.

After an Auto Accident: How to Respond

  1. After an accident, after you are confident that neither you nor any other individuals are injured, check to make sure it is safe to exit your vehicle.  Once you are able to do so, contact the local police department; many states require that drivers contact the police after any form of vehicle accident or collision.  Some states, however, do not require that you contact the police; however, it is optimal to contact your insurance company if you are not sure.

  2. If possible, use your digital camera or cell phone camera to take pictures of the accident and damages.  Having photo evidence can help you to avoid any potential disagreements between you and the other driver(s).

  3. Exchange your insurance information with the fellow driver(s).  Additionally, write down the other drivers’ name, phone number, addresses, and any other important contact details.  If a witness was present for the accident, you should also record his / her contact information as well.

  4. Once all information is exchanged, contact your insurance company to inform them of your recent accident.  Whether a driver is at fault or not is irrelevant in this step; each driver must inform their provider of the damages involved.  Upon contacting your provider, inform them of any pictures that you were able to take, while you also must be able to give them details of the accident and damages.

  5. Lastly, after contacting your provider, revisit the specific details of your current policy.  Make sure you are aware of what resources and compensation rates for which you may be eligible.  Having knowledge of these features will help you to more effectively negotiate and communicate with your insurance company in the coming days / weeks.

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Non Refundable Airline Tickets: Can Travel Insurance Coverage Help?

Wednesday, September 30th, 2009

If you’re familiar with purchasing airline tickets online, then you already know about the incredible discount airline offers and reduced ticket prices.  Oftentimes, airlines will allow travelers to purchase their airline tickets at a significantly reduced rate; however, these savings are offered at the cost of opting for “non-refundable” tickets!  Before settling on a non-refundable purchase assuming that your traveler’s insurance will cover any interruptions or cancellations, evaluate the general airline rules and non-refundable regulations.

The Cost of a Non-Refundable Ticket

If you opt to purchase a non-refundable airline ticket, then most major US airlines will not allow you to reuse your ticket for another flight / time if you need to cancel your travel plans.  Worse yet, you also don’t get your money back!  In rare cases, some airlines allow travelers to use their canceled non-refundable ticket towards a future flight ticket purchase; however, the airline carrier will almost definitely take out a rather large “exchange fee” for switching flights.  In fact, some “exchange fees” or “cancellation fees” may be more expensive than the actual cost of the airline ticket itself!

Will Traveler’s Insurance Protect Non-Refundable Ticket Cancellations?

If you are planning to purchase non-refundable tickets, then it may be to your advantage to investigate trip cancellation insurance packages.  While each travel insurance policy has its own coverage features, rules, and exceptions, most major cancellation insurance policies do in fact provide travelers with a portion (or entire) reimbursement for a non-refundable ticket that needed to be canceled.  In fact, some travel websites, airline ticket sites, and airline carriers allow travelers to opt for temporary and short-term insurance packages, which often only cost travelers about $15 to $25!

If your non-refundable ticket was incredibly cheap (around $100 or less), then it may not be worth your investment to even purchase added insurance.  In the unfortunate case that you need to cancel your flight plans, you will most likely lose your $100 ticket investment.  If you’ve made more extensive plans for a pricier trip, however, insurance carriers and / or short-term policies would certainly protect you from unforeseen financial losses associated with cancellations!

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Which Type of Travel Insurance Best Meets Your Needs?

Friday, September 25th, 2009

Depending on your traveling needs and demands, you can optimize your travel insurance coverage by choosing the policy that fits your lifestyle.  By evaluating the three main coverage options, per-trip, annual, and multi-trip, you’ll be able to enjoy travel insurance protection while cutting back on unnecessary costs.

Choosing the Best Travel Insurance

Per-Trip Coverage

If you typically only opt to take off for annual vacations, then choosing a per-trip travel insurance plan is ideal.  With per-trip coverage, you are able to choose a plan that is limited to your set vacation travel time, whether it’s for a weekend or two weeks.

Annual Coverage

Unlike per-trip packages, annual coverage is ideal for individuals who travel more regularly.  For example, individuals who opt for more than one vacation each year, and / or individuals who are required to travel for work-related reasons will find many benefits in annual coverage options.  Generally, an extensive annual coverage plan will protect travelers from incidents such as:

  • Lost baggage
  • Medical coverage (generally abroad or related only to the traveling)
  • Hotel cancellations / problems
  • Lost / stolen luggage
  • Additional costs / expenses

Although each annual insurance plan will vary, depending on the provider’s requirements and your individual package needs, most per-trip travel insurance plans cost around 5 to 10 percent of the cost of the overall vacation, while annual insurance plans general cost less than $300 to $500 dollars.  As a result, if you are planning on going on more than one vacation at the expected cost of around $2,000 per trip, then annual insurance should save you some serious cash.

Multi-Trip Coverage

Finally, if choosing to purchase multi-trip coverage, then travelers will generally be able to take advantage of insurance protection for up to 30 consecutive days while traveling.  Unlike per-trip insurance, multi-trip coverage allows travelers to enjoy insurance benefits as they move from one destination to another over the course of a year.  Essentially, travelers are able to set off on multiple trips each year, as long as each trip does not exceed 30 days.  Multi-trip insurance should generally cover travelers as they visit any location around the world, as this option allows individuals to conveniently hold on to the same coverage features without having to open a new plans each time a new vacation is organized.

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Protect Your Loved Ones with Flight Accident Travel Insurance

Wednesday, September 23rd, 2009

If you’re a frequent flier jetting off to an array of destinations, then opting for flight accident travel insurance may provide you with greater peace of mind while taking off for your travels.  Although the likelihood of being hurt, injured, or killed during a flight is incredibly rare, many frequent fliers purchase travel insurance plans to protect their families in the unlikely circumstance of a flight accident.

What is Flight Accident Insurance?

Flight accident insurance is commonly provided by most travel insurance companies.  With flight accident coverage, you are able to receive compensation for injury and / or dismemberment while on an airplane.  Additionally, your family is able to receive agreed upon compensation in the unlikely case of demise caused by a flight accident.  When evaluating the details of a flight accident travel insurance plan, you may want to specifically evaluate your provider’s coverage policies for the following risks / issues:

  • Protection for injuries received as a passenger on a plane (excludes pilots or working members of the aircraft crew)
  • Protection for injuries received while on the plane, boarding the plane, or de-boarding the plane
  • Protection for delayed injuries experienced within 180 days of the flight accident
  • Compensation for family members in the case of a flight-related demise (typically included as a portion of life insurance, but individuals should check with their provider)

Also, before choosing a specific plan, ask each provider if the flight accident insurance includes terrorist-related incidences.  Commonly, most providers do not compensate for terrorist-related harms on an aircraft.

Additional Flight Accident Options

Adding to flight accident insurance protection, some travel insurance providers also offer extended coverage for individuals during the flight and after they have landed and de-boarded the plane.  Although these plans are more expensive, individuals opting for more extensive coverage are able to enjoy insurance protection while living and / or traveling abroad.

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Studying Abroad? Find Out Why Students Need Extensive Travel Insurance Coverage

Thursday, September 10th, 2009

As many high school and college students opt to explore the world on various study abroad excursions, experts suggest that all student travelers take advantage of specific student-based travel insurance plans.

Why Students Need Travel Insurance Protection

While adults traveling the globe are generally protected from loss and / or harm by their pre-existing insurance polices (such as their health insurance, property insurance, and other policies), students generally lack extensive investments in these programs. As students typically lack the means and or need for comprehensive insurance policies, a choice to leave the country may mean that a student is at a greater risk of loss if any form of injury, personal loss, and / or property damage occurs. As such, experts recommend that all students opting for programs to study abroad invest in basic student-based travel insurance polices that include the following protection features:

  • General travel insurance (in case of cancellations, and flight changes)
  • Baggage
  • Medical
  • Travel Accident
  • Worldwide emergency assistance support / services

Additional Options for Student Travel Insurance

Depending on each student’s specific personal needs, worries, and travel plans, some students may benefit from opting for extensive coverage features. Specifically, many providers offer coverage for issues / dangers such as:

  • Pre-existing medical conditions / needed treatments abroad (some medical upgrade options even include evacuation protection to a hospital / provider of choice)
  • Baggage upgrade (this can be optimized to include possessions such as electronics, portable computers, laptops, cell phones, CD players / DVD players, and camera equipment)
  • Specific sports protection (covers students from damage / harm caused by participation in adventure-related sports, such as white water rafting, which would otherwise not be offered under a general student travel insurance plan)
  • Terrorist acts / terrorism
  • Vandalism
  • Delayed baggage (if your bags are delayed resulting in your need to purchase items in order to continue planned travels / comforts until bags are delivered, then a provider may offer features for additional delayed baggage protection)
  • Emergency evacuation
  • Emergency cash transfers

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