Consider travel insurance this summer

It may seem a bit early, but believe it or not, summer is right around the corner…time to start thinking about that family vacation getaway.

When planning your fun-filled itinerary, the last thing you want to do is worry about any financial loss that might occur as a result of a missed flight, an injury or illness, lost baggage, or any other unforeseen incident. To ensure your peace of mind while away from home, many companies provide several different types of traveler's protection plans to help ease the burden.

Without insurance, a traveler can lose nonrefundable deposits and prepayments that can add up to hundreds, or even thousands, of dollars. A good, comprehensive travel insurance plan will often reimburse a traveler for all pre-paid, nonrefundable expenses for a covered loss.

The cost of travel insurance is based, in most cases, on the value of the trip and the age of the traveler. Typically, the cost is 5-7 percent of the trip cost. Now, you may think, "I'm paying so much for this vacation already, why should I pay even more for something I may not even need?" True, but then, why take your car in for a tune-up when it's running smoothly? Why go to the dentist for a routine check-up if you don't actually have a pain in your mouth? Like most every other type of insurance, be it automobile, medical, or homeowner's, you hope you never need to use it. But it sure is a relief to have it when you do need it, right? Well worth it, when you consider the alternative.

Here are some general types of coverage you should consider before heading out for this summer's vacation:

Travel Arrangement Protection
This covers you in case of trip cancellation, interruption, or travel delays (these can include inclement weather, lost or stolen passports, quarantine, hijacking or natural disaster).

Medical Protection
Just because you have health insurance at home, the moment you set foot on foreign soil or even set sail on a cruise, many health plans are considered null and void, so be sure you get travel medical protection to cover emergency medical expenses, such as illness and accident expenses, and emergency medical transportation to the nearest medical facility.

Baggage Protection
Not only do you want coverage for lost, stolen or damaged baggage, but many plans offer reimbursement for the purchase of essential items if baggage is delayed.

Worldwide Emergency Assistance
If traveling outside of the country, make sure you purchase a policy that covers international emergencies. This can include emergency cash transfer assistance, legal assistance, and lost travel documents assistance.

If you make your travel arrangements through a travel agent, be sure to ask them about the different types of travel insurance they recommend for your trip. If you book your travel plans online from reputable companies like Travelocity or Expedia, these companies will offer you insurance through their website. Or, alternatively, you can contact companies like AIG Travel, and purchase a wide variety of plans through them.

So before embarking on your next trip, do your homework. Talk to your travel agent about all the different insurance options available to you.

Have a happy and safe vacation!

2:39 PM - Jun. 11, 2008 - comments {0} - post comment

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