You purchase insurance in case of an emergency for your large life purchases- your home, your vehicle, your belongings and your health. Most vacations cost thousands of dollars and, in some cases, families have scrimped and saved over time in order to take their once in a lifetime trip.
Generally speaking, travel insurance can cover all aspects of your trip from lost or delayed luggage to flying you out of a remote location if you need medical assistance. The cost is usually minimal compared to the cost of your trip and can save you many headaches, lost money from a trip that cannot be taken and, in some cases, even your health.
I often think that clients do not understand the value of travel insurance until it is explained to them. I also understand that it can feel like you already spent enough money on your trip, so pulling out your checkbook to write another $400 (I just pulled this number out of the air) seems unnecessary because “nothing will happen”. However, you just never know and, just like with your car or your health, isn’t it better to be safe than sorry?
Here are some ways that travel insurance can add value to your trip:
- Handling the Unexpected. You have saved for your perfect vacation and are all ready to go and then an elderly parent become hospitalized, a child becomes seriously ill or there is a work emergency. Travel insurance can save your perfect trip so you can take it at a later date.
- Rebooking for Later. A policy that includes trip cancellation will allow you to preserve your funds so you can rebook with your agent at a later date.
- Trip Interruption. You are in the middle of a fantastic trip and get a phone call that there has been an accident at home and you need to return immediately. Trip interruption coverage allows you to return home in the middle of your trip and recover most of your investment.
- Lost Baggage. If your luggage is lost or stolen, baggage benefits on your policy can help you replace the essentials that have gone missing.
- Help with Problems. Having emergency travel assistance with your policy is essential. This provides your with a team available 24-7 to deal with emergencies. This could be a need for an attorney or lost or missing travel documents.
- Keeping your Healthy. If you become sick or injured while in another country, travel insurance with medical benefits allow you to be directed to a local English-speaking hospital or doctor.
- Getting you Home. If your insurer determines that your health and medical situation is an emergency and that you cannot be helped where you are, they can arrange for you to be moved to a proper hospital or medivac you back home.
- Peace of Mind. The peace of mind knowing that almost every situation that could arise would be covered by your travel insurance policy is probably the most important item on this list.
There are also insurance options if you are traveling closer to home. Your agent can provide you with an accurate quote in just a few minutes.