Planning to travel soon? Should You Buy Travel Insurance? It's hard to tell if it's worth the extra money. Are you over 50? Travel insurance increases significantly as you get older. If you spend a lot of money on a trip, travel insurance is a must.
Travel insurance covers these basics:
- Cancel or stop a trip
- Emergency evacuation
- Delayed flights and cancellations
Travel Insurance – What Does It Mean to You?
Travel cancellation refers to the cancellation prior to your trip while a trip interruption refers to a problem during your trip. What if you or one of your companions travel hurt or ill and have to cancel your plans. This is where travel insurance comes to the rescue.
What if you have emergency medical care? Do you think you are covered by your health insurance? You might be. But most health insurance plans do not cover you outside the United States. Medicare never covers you when you travel abroad. Find out if you are covered when traveling to your next destination.
What if you feel sick and have to fly by air? Or you need medical care for your flight home. This can be very expensive.
Have you arrived at your destination only to find that you have no luggage? What if you are ready to embark on a cruise? And now what? Travel insurance will pay for the essentials until your luggage is found and delivered. What if it never shows up? Make sure you have a list of the items you packed for your trip. Better, keep as much evidence of these items as possible. If your luggage has been stolen, be sure to file a police report. This will help in submitting an insurance claim.
Did you go to the airport only to find out that your flight was delayed? What if the delay causes you to miss the connection flight? Travel Insurance will return you for hotel stays and meals while you wait for your next flight. But what if your flight departs in time and gets into traffic and misses your flight? You may not be covered.
Travel Insurance – Do I Really Need It?
Check with your homeowner policy. It may already cover such things as lost luggage. Make sure you check the maximum amount of coverage as it may be limited to payment. Check your health insurance and find out what is covered when traveling away from home. Make sure you are covered when traveling abroad. Finally, check your credit card coverage. Some credit cards will provide a limited amount of insurance if the trip was booked with their credit card. If you have an airline credit card, check with their coverage. They may have better coverage if you travel with them. However, credit cards may not cover the fact that you are transporting by air to your home. Both health insurance and credit cards usually do not cover emergency travel needs.
As soon as you decide you need travel insurance, read the fine print. Check if there are any time limits for buying insurance before your trip. Find out if the full length of your trip is covered. Make sure your destination is covered. If your government warns you not to visit a specific country, you may not be covered if you go there.
What if you get sick? Make sure you list all the medicines you are currently taking. If you do not, your policy may be canceled. What if a family member returns home sick and you want to reduce your trip soon. Most travel insurance coverage does not cover this unless it is a family death. There is an option called "cancellation for any reason". If you have elderly relatives in your home, you may want to consider this option for peace of mind. This will allow you to cut short your trip and return to your home country for whatever reason. Even if you changed your mind and decided not to go.
Check the fine print and decide if the travel insurance market is right for you. You might be glad you did!