So, let’s talk about travel insurance also known as visitor
insurance, emergency travel insurance, trip insurance and so on. Do you really need
it?
The answer is- it depends… In certain cases insurance is not
worth the cost. This is because the insurance is either unnecessary or the
amount you pay does not justify the risk.
Before you decide whether or not to get travel insurance, let’s
take a look at the travel risks and coverage available:
Let’s start with:
·
Tripcancellation insurance –
Reimburses you when certain circumstances prevent you from taking your
trip—such as if your cruise line or tour operator goes out of business or if
you have to cancel the trip due to sickness, a death in the family and so on.
In addition, if you or an immediate family member becomes seriously ill or is
injured during the trip most policies would reimburse you for the unused
portion of the vacation.
Don't confuse trip
cancellation insurance with the cancellation waiver that
many cruise and tour operators offer. Compared to insurance, waivers might seem
relatively inexpensive and they do provide coverage if you have to cancel the
trip. However, they include many restrictions, they generally must be purchased
at the time the trip is booked, and they will usually not cover you immediately
before departure (the time period during which most people cancel) or after the
trip has begun. Most importantly, because waivers are not insurance they are
not regulated by state insurance departments. If your tour or cruise operator
gets into financial difficulty, you may not be able to collect on the waiver.
·
Baggage insurance or personal effects coverage –
Provides coverage if your personal belongings are lost, stolen or damaged
during the trip.
Before purchasing this type of
coverage, find out how much insurance the airline or trip operator provides for
your belongings. Also check your homeowners or renters policy, which
will usually provide coverage for off-premises theft, such as stolen luggage.
If you are traveling with expensive
electronic equipment, jewelry or sporting gear, it might be more cost-effective
to purchase a floater or
endorsement to your homeowners or renters policy that covers
these items. This would provide full coverage against loss of the item,
anywhere in the world, as well as at home.
Some insurers also offer baggage
delay insurance, which would cover items you need to purchase in case your
luggage to hold you over in case your luggage is significantly delayed. Some travel
insurance policies include this coverage at no cost when you get a medical travel
insurance- you can explore some options on our site:
·
Emergencymedical assistance – Covers
expenses related to medical crises, which can be very costly. Emergency medical
assistance covers situations like: being airlifted off a mountain after a
skiing or hiking accident; a prolonged period stay in a foreign hospital; or
needing to be flown home due to a serious illness or injury.
Before purchasing this type of
coverage, check with your own health insurance carrier to find out what type of
coverage you have when traveling at home or abroad and what the limitations
are.
Depending on where you're traveling,
consider getting insurance enough to cover a flight home or to a country with
first-rate medical care.
·
Accidental
death provides coverage in event you or a
family member dies during a trip. Depending on your life insurance plan or other financial
provisions for your loved ones, this may be duplicate insurance.
There are many other types of travel
insurance—you can even get coverage for lost travel loyalty plan points.
Depending on your destination and circumstances, you may want to consider the
available coverage for:
·
Missed connection
·
Travel delay
·
Emergency evacuation
·
24-hour traveler assistance
·
Collision/damage coverage for rented
cars
Before buying any type of travel
insurance consider the risks and ask yourself- does it make sense to buy
insurance or you can manage the loss otherwise? Choose your travel insurance
based on what makes sense for your trip and your own finances It is obvious No
one really likes paying for insurance, but when you need it I am sure you will
be glad you bought it.
You can get an idea of how much
travel insurance costs by using the comparison calculator link bellow:
https://www.insubuy.com/?affiliateid=polyakov
awesome blog and content thnks..
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