A Good Way to Protect Your Travel Investment

Isn’t it wonderful when everything goes right with a vacation? When that happens, you build some great memories that’ll last a lifetime.

Unfortunately, that doesn’t always happen. Everything isn’t always peaches and cream. Peaches have pits. Cream can go sour. In other words, things can occur beyond our control, which can dampen an otherwise excellent vacation.

The truth is, the world isn’t a perfect place and vacations can be ruined by acts of terrorism, illness, natural and manmade disasters, etc. Additionally, what if a COVID-19 outbreak causes you to change your vacation plans? Or, what if you test positive for Coronavirus while on vacation and have to endure an extended stay in quarantine before being allowed to come home? The list of things that can go wrong is virtually endless.

A Potential Solution

Nothing can prevent these catastrophes from happening. For example, you can’t prevent an earthquake from striking your vacation spot. There is something you can do however to protect against the financial risks these scenarios represent. You can purchase travel insurance.  

Let’s face it, travel is expensive. According to a recent Bankrate article, the average cost of a one-week vacation in the United States for one person is $1,558. And the price goes up by as much as 561.6% if you’re planning international travel.

“Travel insurance provides a way to hedge against the financial risk associated with traveling,” says Dan Drennen, Director of Sales and Marketing at Travel Insurance Center^®. “The idea is to get the right amount of coverage for your specific needs. Then, if something occurs, you don’t end up losing your entire investment.” Drennen goes on to say, “There’s a solution for virtually any travel situation including Coronavirus-friendly plans and Cancel For Any Reason policies.”

Coronavirus-Friendly Plans

Dan recommends that all travelers consider purchasing Coronavirus-friendly travel insurance. This type of protection can provide a way to hedge against financial risks related to travel in a post-pandemic world. Coverage may include costs connected with travel delays, emergency medical and evacuation, trip cancelation and interruption, and the like. Despite these uncertain times, you can schedule trips with confidence because of the financial protection available through these plans.

Cancel For Any Reason Policies

An important point to consider, according to Drennen, is the option to purchase a Cancel For Any Reason insurance policy. This is one of the most effective options for protecting your travel investment during these uncertain times.

Three Points Concerning Cancel For Any Reason Eligibility

1. The policy must be purchased within 21 days of your very first trip payment or deposit. If you go beyond that time frame, then Cancel For Any Reason insurance policies are not an option.
2. You must insure the full, pre-paid, non-refundable cost of the trip.
3. If you do cancel for any reason not covered under the standard trip cancellation provisions of the policy, you must do so 48 hours or more before departure. Therefore, time is of the essence in procuring this type of coverage.

According to Dan, when considering travel insurance, it’s imperative that travelers work with a good agent who keeps their best interest in mind. He firmly believes any agent worth their salt will do diligent research to find suitable coverage for their clients’ needs and budget.

The Travel Insurance Experts at Travel Insurance Center^® specialize in finding the best travel insurance options for your specific needs and budget. If you have questions or need travel insurance, don’t hesitate to reach out.