Six Questions To Help Consumers Decide When To Purchase Travel Insurance
Travel insurance can’t prevent bad things from happening on a vacation, but it may be able to protect your financial investment, according to the Insurance Information Institute (I.I.I.).
“For many consumers worried that an extreme weather event or political unrest might affect their vacation plans, travel insurance can provide useful coverage,” said Jeanne M. Salvatore, the I.I.I.’s chief communications officer. “But it’s important to understand exactly what it covers and when it makes sense to purchase it.”
Asking some key questions can help determine whether you should consider purchasing travel insurance:
- If I had to cancel my vacation, would I lose the money I paid in advance?
- Is there a chance severe weather or other events could interrupt my vacation?
- If the tour operator were to go bankrupt, would I receive a refund?
- Is there a chance I might get injured because I’m planning an active vacation (biking, hiking, sailing)?
- Will I be traveling with small children or older relatives who might have special needs?
- Might I need special assistance while on vacation such as an English speaking doctor or dentist?
If the answer to any of these questions is “yes,” you may be a candidate for travel insurance.
Most travel insurance policies include three basic types of coverage:
- Trip Cancellation, Interruption or Delay: Provides coverage if you need to cancel a trip due to sickness, a death in the family, bad weather, delayed shipment of luggage or another disaster listed in the policy. In addition, if you become seriously ill or are injured during the trip, some policies will provide reimbursement for the unused portion of the vacation. (There may be exclusions for pre-existing conditions, so check your policy carefully.)
Some—but not all—travel insurance policies may provide coverage if the cruise line or tour operator goes out of business. And, for an additional fee, some insurers offer a “Cancel for Any Reason” provision, which provides coverage if you cancel a trip due to “the fear of something that may happen,” such as civil unrest or a forecast natural disaster.
- Medical Insurance and Medical Evacuation: Provides coverage if you are injured while traveling—for example, being airlifted off a mountain due to a skiing or hiking accident—or in the event you get seriously ill and need to be flown home. Some commercial airlines require very sick passengers to travel on a stretcher with a medical escort; your travel insurer will usually make arrangements for this.
- 24-hour Assistance: This service, provided by most travel insurance companies, can help travelers find doctors, arrange accommodations, contact their families or get other forms of assistance in case of an emergency.
- Other Travel Related Coverages: These include: Accidental Death, should you or a member of your group die during the course of a trip; and Luggage Insurance or Personal Effects Coverage, which provides protection if your luggage and/or personal belongings are lost, stolen or damaged.
Travel insurance is different from the cancellation waivers that many cruise and tour operators offer. Waivers are not insurance; they are relatively inexpensive and provide coverage if you have to cancel the trip, but come with many restrictions.
At Custom Travel Clubs, members receive “Complimentary Flight Insurance“ worth $200,000 worth of coverage for every airline ticket purchased through our portal, at no additional costs. This benefit sells for between $18-24 per ticket through other providers. What’s more? Our “Private Medi-Jet Service“ ensures you proper care in case of medical emergencies.
We have partnered with the best in the industry to provide best deals on travels to the members. Our Travel Loyalty Program provides the best rewards, best travel club benefits and savings to the members. We make it easy for members to save on travel so that they can take the vacations that matter. See the full list of all the travel benefits we provide.
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