Before you finalize vacation plans, be sure to give careful thought to whether travel insurance makes sense for you and/or your family. If your total trip is a couple hundred dollars in airfare, travel insurance probably isn’t worth it. But if you’re taking the trip of a lifetime and spending thousands, travel insurance might make sense.
Some different types of insurance available include:
Trip Cancellation/Interruption (TCI) – If your plans suddenly change and you have to cancel or end your trip early, TCI will reimburse you if the reason for doing so is on the insurer’s acceptable list, including injury, sickness or death. Some policies cover only medical reasons and some will not cover pre-existing medical conditions. It’s important to read the fine print.
Emergency Medical Evacuation – If you are going on an adventure vacation or to an area that is far from modern medical facilities, it may be a good idea to buy this coverage. If adequate treatment is not available at a local hospital, you would be transferred to the nearest acceptable medical faculty.
Baggage Loss – This coverage reimburses you for lost, stolen or damaged bags. As you pack, make a list of everything you take. If your bag is lost, you may be reimbursed for some contents, but not all. Baggage-loss protection is only necessary if you are carrying more than $2,500 worth of items in your bags. Be sure to check your homeowner’s policy.
In addition, BBB recommends travelers take the following into consideration:
You may not need to buy it right away. Travel insurance can be purchased days before your trip. Check to see if the policy you are considering requires you to purchase within a set time period after you’ve booked your travel. For trip cancellation insurance, you won’t be covered if you buy the policy after you’ve become ill or natural disaster has wiped out your vacation destination.
Don’t fall for high-pressure sales tactics. Don’t let someone pressure you into buying travel insurance right away. Take time to research options and check out the companies with BBB at wynco.bbb.org.
Pay with a credit card. Protect yourself further by paying for travel related expenditures, including insurance, with a credit card. Ask your credit card issuer if there are additional protections that come with your credit card. Some travel insurance may be built in to your credit purchases.
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