Let's be honest: Most of us have heard enough about insurance. And when we're thinking vacation or travel, insurance is probably the last thing on our mind. But should it be? Following is a summary of the five most common travel insurance policies to help you decide if it's a good investment in the event an unexpected crisis happens while traveling.
Trip Cancellation/Interruption Insurance -- This policy covers cancellations due to unforeseen situations such as illness or injury, inclement weather, military or jury duty, a death in the family, and bankruptcy of the cruise line, airline or tour company. There is even terrorism insurance which covers costs associated with your trip being canceled due to terrorism warnings issued by the U.S. Department of State. Some companies offer an option that allows you to cancel for any reason whatsoever.
Medical Emergency Insurance -- If you or your travel companion has a chronic illness, or if you're traveling to a foreign country that may not have modern health facilities, travel medical coverage or emergency medical evacuation insurance should be considered. This insurance is designed to reimburse you for any medication, doctor and hospital bills, and costs incurred to evacuate or transport you to your home country or hospital of choice.
Missed Connection Insurance -- This policy is designed to cover expenses necessary to get you caught up with a departed cruise or trip due to a canceled or delayed airline flight.
Flight Accident Insurance -- This policy is a form of accidental death insurance designed to cover the traveler for one flight.
Personal Property/Lost Luggage Insurance -- Your home policy may or may not cover personal items while traveling. Check. If you have to bring an expensive item along, spend a little extra to make sure it's covered in case it gets lost, misplaced or stolen. It's usually better to just leave it at home, however.
This represents only a few of the available insurance policies. As with all insurance, check with your travel or insurance agent to fully understand your coverage, as travel insurance policies, options and reimbursement amounts vary greatly. Also, if you're purchasing an expensive flight, tour or travel package, insurance probably makes more sense. If you're a frequent traveler, you might consider buying a comprehensive package that provides coverage for multiple trips and offers protection on a wide range of coverage, such as trip cancellation, identify theft protection, lost luggage, theft, concierge services and more.
Trip Cancellation/Interruption Insurance -- This policy covers cancellations due to unforeseen situations such as illness or injury, inclement weather, military or jury duty, a death in the family, and bankruptcy of the cruise line, airline or tour company. There is even terrorism insurance which covers costs associated with your trip being canceled due to terrorism warnings issued by the U.S. Department of State. Some companies offer an option that allows you to cancel for any reason whatsoever.
Medical Emergency Insurance -- If you or your travel companion has a chronic illness, or if you're traveling to a foreign country that may not have modern health facilities, travel medical coverage or emergency medical evacuation insurance should be considered. This insurance is designed to reimburse you for any medication, doctor and hospital bills, and costs incurred to evacuate or transport you to your home country or hospital of choice.
Missed Connection Insurance -- This policy is designed to cover expenses necessary to get you caught up with a departed cruise or trip due to a canceled or delayed airline flight.
Flight Accident Insurance -- This policy is a form of accidental death insurance designed to cover the traveler for one flight.
Personal Property/Lost Luggage Insurance -- Your home policy may or may not cover personal items while traveling. Check. If you have to bring an expensive item along, spend a little extra to make sure it's covered in case it gets lost, misplaced or stolen. It's usually better to just leave it at home, however.
This represents only a few of the available insurance policies. As with all insurance, check with your travel or insurance agent to fully understand your coverage, as travel insurance policies, options and reimbursement amounts vary greatly. Also, if you're purchasing an expensive flight, tour or travel package, insurance probably makes more sense. If you're a frequent traveler, you might consider buying a comprehensive package that provides coverage for multiple trips and offers protection on a wide range of coverage, such as trip cancellation, identify theft protection, lost luggage, theft, concierge services and more.
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