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Travel Protection : Do I Need It?

Travel protection is the add on to any vacation that you hope you will never use. However, when providing quotes to my clients, I always provide costing for adding travel protection to their vacation. While not as common as life or health insurance, travel insurance is the best way to protect your vacation. When discussing travel protection with my clients several common questions arise.

1. Do I really need travel protection?

The short answer to this first question is how much are you comfortable with loosing should something happen? This could be loss of money or loss of time having to solve problems on your vacation. I ask myself the same question when I am purchasing a vacation. If the trip is short, domestic and inexpensive, chances are I will go without insurance. On the other hand, if the trip is international or costs more than I am willing to loose, I get protection every time.

2. What type of coverage exists?

There are two basic types of coverage. Classic and Cancel for Any Reason. The main difference between the two is that with Classic coverage you can cancel for covered reasons and for Cancel for Any Reason coverage you can cancel for any reason. Of course, every insurance plan is different and therefore it is important to read the coverage and terms of any plan before purchasing it.

3. What does travel protection cover?

  • Canceling your trip due to an unexpected event such as an illness in the family or the financial default of your airline, cruise line or tour operator
  • Having to return home early due to an unexpected emergency such as an illness or death in the family
  • Lost or delayed luggage , forcing you to purchase necessary essentials, or prescription medications
  • Stolen or damaged luggage or personal effects
  • Becoming ill or injured and learning that your health care plan doesn’t cover you outside the U.S.
  • Needing an emergency medical evacuation due to an accident or sudden illness
  • Running into flight delays and miss a portion of your trip or cruise
  • Interrupted trip due to an unexpected hurricane or storm
  • Losing your passport, leaving you stranded abroad
  • Needing assistance with replacing a prescription or an emergency cash transfer

4. Doesn’t my credit card, home owners and health insurance provide me with this coverage?

This might be true, but you would need to confirm with your providers. Every policy has different terms detailing what they will and will not cover. For example, many health insurances will not cover you out of the country unless you purchase additional protection.

Overall travel protection is a great and typically inexpensive way to assure that you don’t have to worry about your vacation. It provides you with services throughout your trip to help navigate any obstacles and assure you have a wonderful time.

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