Travel Insurance – How to Protect Your Vacation Investment
You’ve been saving up for your summer vacation for months, shopping around for the best rates and booking well ahead of time to get the best deals. You’ve made all of the non-refundable deposits, or maybe you paid for the whole trip upfront for extra savings. But did you think about what would happen if you couldn’t take the trip?
There are numerous situations that can either cause you to cancel or interrupt your vacation, and there are nearly as many travel insurance options that you can customize to your vacation and situation. Here are some general types of insurance that are available through various travel insurance companies. Always check the Terms of Coverage before you buy and make sure that it covers your areas of concern.
Trip Cancellation Insurance – Trip cancellation insurance generally covers the non-refundable portions of your trip, either in the form of deposits or pre-payments, in the event you need to completely cancel your trip.
Trip Interruption Insurance – Trip interruption insurance is most often offered hand in hand with Trip Cancellation Insurance. Many of the same reasons that could cause a cancellation could also cause your trip to be interrupted. Coverage could range from any loss of deposits to additional costs to change your return travel plans.
Trip Delays, Missed Connections, and Baggage – Travel insurance can also cover costs that you incur due to weather or airline mechanical delays, missed connections and problems with your baggage.
Medical Coverage – Medical coverage can range from emergency medical and dental expenses incurred to costs for an emergency medical evacuation or transportation to an acceptable medical facility.
Travel Assistance – While not technically insurance, many travel insurance companies offer special assistance while you are covered. This can include help with identity theft, passport loss, emergency situation assistance or even restaurant reservations.
Optional Travel Insurance Coverage – Many Travel Insurance companies also offer various optional coverages for things like car collision protection, flight insurance, cancellation for any reason (as opposed to “covered” reasons), and cancellation for work reasons.
Your vacation may be one of you greatest single expenditures you’ll make this year and may be essential to helping you recharge and enjoy the fruits of your labor.