Summer hurricanes, winter blizzards, political turmoil, even forgetting your passport, can disrupt your travel plans. Save time, save stress, save your vacation with travel insurance. Never leave home without it.
Like any other insurance, the type of travel insurance you should have, and how much it will cost, depends on many things. Start by checking your homeowners policy, auto insurance policy and your credit card agreement to see what is covered, and proceed from there.
Even the most basic travel insurance protects against losses from missed connections and missing baggage. More expensive plans cover emergency medical evacuation, or the ability to cancel for any reason up to 24 hours before your scheduled departure. A growing number of tour operators and cruise lines now require travel insurance, because it protects them as well as you, the traveler.
An overlooked advantage of travel insurance is that you get one central place to contact for assistance and reimbursement. The largest and best travel insurance companies have 24/7 call centers, and free toll-free calling from overseas.
So, which kind of travel insurance is right for you?
Trip interruption – Buying a same-day airline ticket can cost as much as ten times the price of your original, discounted, advance-purchase ticket for a replacement. And many hotels now charge you a ‘no-show’ fee that can be half the cost of the room, even if they rent it to somebody else. Trip interruption coverage protects you against those charges, and it is a basic part of travel insurance.
Trip cancellation – This is different from basic trip interruption coverage, and usually is included in more expensive policies, or as an add-on to less expensive ones. This covers you if you decide at the last minute not to take the trip at all, because you lost your job, sprained your ankle getting the suitcase out of the closet, or because you heard there would be political demonstrations near your hotel.
Medical coverage – Many travel insurance policies cover medical care away from home that is not covered by your regular health insurance policy. Travellers over age 65 should know that Medicare does not cover medical care outside the United States, so it is especially important to have travel insurance with good medical coverage, or a separate medical insurance policy. Generally, travel insurance policies cap medical costs at $5,000 or $10,000. Some policies cover everybody travelling together on a family trip. If you are travelling to a remote area, such as an African safari or Macchu Piccu, consider a travel insurance policy that includes helicopter evacuation, contacting your hometown doctor, and flying you home in a special med-evac aircraft. MedJet Assist covers your entire family for $350 a year. Without coverage, out-of-pocket costs could be $15,000, or more.
If you travel often, including for business, an annual policy is ideal. Insurance companies such as Access America, TravelGuard International and Insure My Trip also offer per-trip coverage, as do credit card issuers Amereican Express, Visa and MasterCard. Compare travel insurance policies and rates by checking Travel Insurance Review, a non-biased industry organization.
Simply, travel insurance is as important as homeowners insurance and auto insurance.