You’ve been excitedly planning your upcoming travel adventure and have spent hours looking at pictures and videos, reading reviews and discovering the most amazing destinations. Now it’s time to pick your amazing hotel or incredible vacation rental, and start scoping out which vacation activities will make your journey even more special. It’s time to book this trip and make your travel dream come true!
You’re ready to set everything up, either on your own or through a travel agent. With your research you’ve spotted some incredible deals and now you are just about to push the button and put your hard earned money to work creating the vacation of a lifetime! Before you say go, though, you really should consider protecting yourself with travel insurance.
Travel Insurance Basics
Travel Insurance offerings typically fall into one of five areas, although there are specialized plans you may want to consider also. Two common items offered are travel medical insurance and trip cancellation and interruption coverage. In addition baggage, evacuation and flight insurance are also available.
Before you purchase travel insurance it pays to think through exactly what you would like to insure for and what coverage would give you the most peace of mind. For instance, are you interested in protecting against loss of nonrefundable fares or travel expenses? Or are you primarily concerned with assuring adequate and paid for medical care on your journey? While some plans include multiple types of coverage, you can often get more affordable premiums if you are only interested in a specific area of coverage.
If you are an extreme athlete or daredevil adventurer, you will want to research available policies to make sure that your hazardous sports activities are included in coverage. You may want to consider a specialized policy that specifically covers the activities that interest you.
One of the popular offerings in the travel insurance realm is a ‘cancel for any reason’ policy. While these policies are more expensive than typical insurance they give the most flexibility for changing your travel plans. Typically you can cancel your travel plans and receive reimbursement of around 75% of your travel expenses.
Travel Insurance Tips and Traps
You should be aware that there are important exclusions that could affect any claim you may have to file. Being drunk can invalidate your claim for coverage if you were a theft victim while intoxicated. Additionally it can affect your medical coverage if drinking was a factor in your medical situation. It’s important to exercise moderation when drinking on vacation.
To make sure you are covered in the event of theft you must take reasonable care of your possessions. For instance, if you leave your wallet and credit cards unattended on a pool chair you may not be covered. It’s important to keep copies of receipts for items you are traveling with and for items you purchased on the trip. Remember to get a police report if are the victim of a theft or robbery.
With careful research and a comparison of available travel insurance policies, you can protect your investment in your vacation and cover any medical issues and personal property too. Finding the right travel insurance can give you peace of mind as you enjoy your dream vacation!