Joy and David had been saving for years to take a Caribbean cruise on their 25th wedding anniversary. Imagine their disappointment when Joy slipped on a patch of ice and fractured her hip the day before they were to leave!
Because they had purchased cancellation travel insurance, though, they didn’t lose any of the money they had put down in advance. They rescheduled their vacation for the following year. By then, Joy’s hip had healed and they had a wonderful time.
Whether you’re planning to travel to a Delaware casino or an ancient Roman temple, vacations can be expensive. Travel insurance, a type of short-term insurance that covers emergencies and unforeseen expenses related to your trip, is available to help you protect your investment. There are several types of travel insurance.
Cancellation
 |
Cancellation insurance, the type of insurance that protected David and Joy’s investment, refunds part or all of the expenses you have paid in advance if you are unable to travel for a covered reason. Most policies will reimburse you if you suffer an unexpected illness or injury. Some will also reimburse you if your traveling companion must cancel for medical reasons, or if there is a medical emergency or a death within your immediate family.
Policies differ on whether or not they will pay if you cannot travel due to a natural disaster or an act of war.
Medical
Medical insurance for travelers pays some or all of the costs of medical care if you are injured or become ill while traveling.
Medical insurance is vital if you are vacationing abroad, because most health plans, including Medicare, won’t pay for treatment you receive in a foreign country. It’s also a good idea to purchase a medical plan with an evacuation clause that will cover the cost of medical transportation if you need to be returned home for care.
Most medical travel plans do not cover pre-existing conditions or injuries received while engaging in high-risk activities such as bungee jumping, deep-sea diving or mountain climbing.
Loss, Damage or Theft
There are several different kinds of policies available to protect you against loss, damage or theft. It’s important to read the policy closely and understand what is and isn’t covered before you make the decision to buy. For instance, some policies will pay if a valuable item is stolen from your person, but not if it is stolen from checked luggage.
A long-awaited vacation should be filled with fun, not with worries and “what ifs.” Travel insurance can protect you financially and ease your concerns so that you can relax and enjoy your time away from home. To find the best plan for you, talk to your travel agent or your insurance agent. You can also find and purchase travel insurance policies online. If you go this route, take some time to compare different policies and select the one that best meets your travel needs.
Michelle is an aspiring writer with a passion for blogging. She enjoys writing about a vast variety of topics and loves that blogging gives her the opportunity to publically voice her thoughts and share advice with an unlimited audience.
