Have you ever heard the phrase, “It takes pennies to protect dollars”? That’s what travel insurance is all about. You’ve saved for this trip, and spent a lot of time and effort planning it. So, why not have something in place to protect your trip’s investment should something unforeseen happen?
What are some important types of travel insurance, and what do they cover?
Trip cancellation
If you’re like me, you wait in eager anticipation for your upcoming trip and the excitement builds the closer you get to your departure date. But life can throw monkey wrenches at you. What if something happens that requires a trip cancellation? Trip cancellation plans will have a list of covered reasons for both cancellation and interruption. You can even find plans that cover cancellation for any reason.
Emergency medical reimbursement
This type of coverage essentially expands your health insurance in most cases. Most plans work as secondary insurance, filling the holes of your primary health insurance plan. Some plans specifically for travel medical will act as primary insurance, but those plans generally have fewer travel-related benefits.
Cancellation due to illness
What happens if you fall ill days before a scheduled trip and have to cancel? This might be the most common cause of ruined vacations. That’s where this type of coverage comes in handy.
Emergency evacuation
If you are in a foreign country and become ill or have an accident, it could cost a small fortune to get you home. Do you want to pay all of that out of pocket? This type of travel insurance limits your financial risk associated with emergency evacuation events.
Loss of a friend or family member
If you need to cancel or postpone a scheduled trip because a friend or family member passes away, you could end up losing considerable dollars. But if you have this coverage, you can mourn your loss while resting assured that your travel fund is protected.
Trip interruption
We all like to avoid weather delays when traveling, but unfortunately we have no control over such things. What if a severe winter storm strikes and your flight is cancelled? If that happens, you could lose the cost of your flight, what you paid for lodging, side trips, the list goes on. This kind of policy helps you hedge against financial risk associated with these kinds of events.
Want more details about how travel insurance can protect you?
Are you considering a trip and need more information about available travel insurance options? Travel Insurance Center® can help. Their team of travel insurance experts do the research needed to find coverage that meets your specific needs and budget. Reach out to Travel Insurance Center to learn more about how travel insurance can protect your trip!
