When planning a trip, nobody wants to think about what might go wrong, but the reality is that things can go wrong even with the most meticulously prepared trips. Flights are cancelled; luggage goes astray; and injuries can occur.
To make sure your vacation isn’t completely derailed in case something does come up, you may want to consider purchasing a travel insurance policy. You can protect your family and your finances with this quick and inexpensive purchase, and not have any worries while you travel.
What is Travel Insurance?
Whether it is for business or recreation, this insurance covers the medical expenses and financial losses that could arise while you are away from home on a trip. It can be purchased for trips of any length and can be tailored to your specific needs. Package plans or travel medical plans are the two ways this type of insurance is typically sold.
At a minimum, a good plan will provide benefits for:
Should you have to cancel your trip for a covered reason prior to departure, Trip Cancellation will reimburse your non-refundable travel arrangements. It depends on the policy whether or not the reason why matters. So selecting the right policy is important.
Your unused travel arrangements will be reimbursed by Trip Interruption coverage, if you must interrupt or return home early from your trip for a reason that it covers.
Medical expenses and emergency transportation for a serious illness or injury that occurs while you are traveling will be covered by Medical Expense/Emergency Assistance.
Travel Delay Benefits to cover your out-of-pocket expenses for meals and accommodations when you are unexpectedly delayed due to flight delays or cancellations or for other similar covered reasons. Generally, you must be delayed for a specified amount of time, such as 6 or 8 hours or more.
Missed Connection to cover additional expenses that you must pay to make alternate travel arrangements when a flight connection is missed due to reasons such as bad weather or mechanical issues.
If your baggage is delayed for a specified amount of time, such as 8 or 12 hours or more, Baggage and Baggage Delay covers the loss or damage to your baggage or personal items or the cost of buying toiletries or personal articles.
It is important to purchase travel insurance when you book your vacation, for a variety of reasons. Time sensitive provisions in most policies will limit coverage if you wait. Your coverage may be limited by any Pre-Existing medical conditions, that are either treated or recommended to be treated 60 – 180 days before purchasing the policy.
Do read the fine print. You’ve probably heard this before and not paid any attention. Well, as far as getting that essential travel insurance is concerned it is highly important to read everything before you pay for the policy. Knowing what you are covered for will ensure you avoid a situation where you have an accident on vacation and suddenly find yourself hugely out-of-pocket with no hope of recovering the expenses incurred.