Posts Tagged ‘trip cancellation’

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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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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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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