The Importance of
Travel Insurance
by
Karen Zastudil
You've finally
saved enough to go on that dream vacation you've been
planning. Now you're wondering if you should buy travel
insurance. Do I really need to go to the
extra expense? All I can lose is my luggage, right?
Guess again!
Anything can go wrong while you are traveling, and I
strongly favor buying a policy.
Most travel
insurance policies are designed for a variety of
travel needs but, I emphatically advise reading the fine
print of any policy you purchase regarding any
deductibles and health situations. You many find your
policy won't cover pre-existing conditions that may cause
a problem, or that the medical coverage is only for an
injury or an illness -- not both. For emergency aid, travel
insurance polices are generally dependable and
affordable, but there are still a myriad of gaps in the
coverage provided.
You can find
polices designed for almost any type of trip you may be
planning, such as a single trip for hunting, backpacking,
cruises, house rentals, and a host of others. But, the
specific types and amounts of coverage you get depend on
the policy you choose. It's important to remember that
you will only be covered for what is specifically stated
in your policy and for nothing else.
Most policies cover
trip cancellation, lost baggage, medical, dental, and
accidental death coverage. Other policies include
emergency evacuation, 24 hour travel assistance, and trip
or baggage delay. You may even find policies that include
options for collision or damage to rented cars and
business conflicts. There are many options that can be
covered, but you will have to ask.
The premiums
for the policies are generally 5% to 7% the cost of
your trip, but fees will vary depending on the your
medical history and passengers ages. Many companies offer
policies that will include coverage for children at no
extra charge.
It is best not to
buy your travel insurance from your tour operator. I've
listed a few reasons why it may be better to purchase
through an insurance company separately.
Most travel
insurance policies offered by the operator are less
flexible to your individual needs;
-Provide a lower
amount of coverage;
-May only cover a
portion of the trip;
-Your coverage may
be secondary and the insurance will only pay for what you
own private health or homeowner's insurance does not
cover;
-May duplicate
coverage you already have;
-In the event the
tour operator liquidates and goes belly up, you would
lose not only your trip, but also your premium.
Many travel agents
are not fully knowledgeable when it comes to
understanding the details of various travel insurance
policies and may overlook something that could be
important to you or your family and few offer
suggestions. Buying travel insurance may be less
expensive purchasing through your tour operator or cruise
line, but for the reasons listed above, you should really
check around.
If you do choose to
buy your policy from your tour operator, be sure to use a
credit card. Depending on the policy of the credit card
issuer, you may be provided with protection against
potential default of the operator.
When buying your
policy from an insurance company:
=Always get quotes
from several companies
=Ask if the plan is
pre-packaged or if you can custom design your own
=Can you waive the
pre-existing condition exclusion
=Ask if you are
covered for cancellation due to a terrorist incident.
Don't count of the company to provide information
=Ask any question
you can dream up and
=Do ask for
suggestions.
______________________
About The Author
Karen is a graduate of Cleveland State
University and is a freelance writer. Visit her website
at http://www.womenatthesummit.com - A site of general interest to women. Topics
include: Pregnancy, Children, Parenting, Health and
wellness, Diet and Fitness, Relationships, Money, Travel
and more.
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