Since Covid, more travelers than ever are taking the extra step to make sure they are safe and secure while on the go – by purchasing travel insurance, also known as travel protection. Planning a beach vacation should be an exciting time – not one filled with worry and stress. To help make sure you have a smooth journey, we have put together some essential tips to help you get the most out of your travel insurance. Read on to see our top tip!
Protect Yourself Against This
It is mercifully rare, but it happens. Recently Vantage Travel, a deluxe travel company cancelled thousands of people’s trips as the company experienced financial problems. Many of those customers are trying to get back thousands of dollars.
Previously, the beloved Crystal Cruises stranded passengers as the company suddenly shut down for financial reasons. While some customers were able to recover their funds from their credit card companies, many are still owed money. Worse, people were stranded mid-trip.
Look for policies that protect you against “financial default.”
Tip: Always pay by credit card, not debit card, as it improves your chance of getting your money back.
Be sure you are covered if the worst happens on your trip
Travel Insurance: What It Is and What It is Not
Travel insurance is not a substitute for major medical insurance. It covers emergency medical expenses you may incur while traveling, such as hospital stays and doctor visits.
Travel insurance, depending on the policy you choose, can reimburse you when you must cancel or interrupt a trip for certain reasons. Called “covered reasons” by the insurers, these include reasons such as your, or a companion’s, serious illness, accident, or death.
Some policies cover you if your employer cancels that precious vacation request or you are called to jury duty. Also, most policies will cover delays or trip interruptions for covered reasons. Some will reimburse for missing luggage or lengthy travel delays. Some will cover an overnight hotel if you experience such delays.
Seniors Take Note!! You Need Travel Insurance
Medicare does NOT cover most foreign medical expenses. Seniors should always buy travel protection that will cover them for medical emergencies when outside of the U.S. Also, for look for policies that will cover those very expensive medical evacuations should it become necessary.
Some foreign hospitals will not treat you without an upfront payment. There are policies that will cover this and pay the hospital directly.
Do You Have a Pre-existing Condition?
Are you planning a trip and have a pre-existing medical condition? Don’t let that stop you from traveling! Many travel insurance policies offer coverage for pre-existing conditions, but you’ll need to purchase the insurance within a certain time frame after booking your trip. With the right policy, you can travel with peace of mind and enjoy your vacation with confidence!
We can help you find the plan that is right for you.
Protection Against Terrorist Action
Are you planning a trip soon? While many travel insurance policies don’t include automatic coverage for terrorism, you can easily add it on for extra peace of mind. Let us help you get the protection you need, so you can relax and enjoy your trip.
Beware: Your Credit Card Coverage May Not Cover You
Many people assume the coverage from their credit card will take care of them. And sometimes it does. However, often credit card travel insurance may not be enough. It might not provide the coverage you need. Take the time to read through the details and make sure you know what is and isn’t covered. You don’t want to be left without the protection you need!
Want To Cancel for Any Reason?
These plans exist. Insurance that lets you Cancel For Any Reason (CFAR) typically needs to be paid within the first week or two after reservations are deposited. These policies tend to be expensive and often only cover only a percentage of your costs. If you want it, investigate before you put down your initial deposit for your trip.
Should You Buy from the Cruise Line or Airline?
It is easier to buy travel protection from your cruise line, airline, etc. and they sometimes offer more than a travel insurance plan. However, it can be more costly.
If a supplier provides the insurance, but then goes bankrupt, will you still have coverage? Will you have help getting home? Many travelers were left stranded when Crystal Cruises suddenly abandoned operations due to financial default. Some were actually left to find their own way home.
To protect against this, look for policies that cover “financial default of supplier.” We do recommend insurance through the cruise lines at times, but only those we trust with a solid financial record. For many people, buying through a third party is the best choice.
Our Best Tip: Do you travel more than twice a year?
Buy a plan that covers you all year-long. This is what we do. An annual plan that covers all your trips can be a great way to save money and reduce stress when it comes to travelling. They are surprisingly cost-effective, and you must only purchase it once a year. It covers all the trips you take in that year.
How affordable? Recently we quoted one for a 64-year-old woman that came out to less than $200…to cover an entire year or travel.
We highly recommend this approach, as we often find that buying an annual multi-trip plan is cheaper than buying a single trip plan from a travel supplier. Of course, we work with only the most reliable and trustworthy insurance providers to ensure you get the best value for your money.
Learn more about the ins and outs of travel insurance in this excellent Washington Post article.
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