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What is Travel Insurance?
Simply put, it is a way to minimize the financial risks that are associated with traveling. These financial risks include lost baggage, delayed flights, medical emergencies, canceled tours and emergency evacuation.
Do I need to purchase Travel Insurance?
Travel Insurance is not required to travel; however it is often recommend. The choice as to whether or not to purchase is fully up to you and should take into account the country you are going to, your current health, the amount of money you have prepaid, etc.
Before you purchase any travel insurance you first want to take stock of what types of travel insurance you already have. Many credit cards, homeowner’s insurance policies and some medical insurance plans already provide some aspects of travel insurance.
Who should I purchase my Travel Insurance through?
There are hundreds of options out there; however it is often safest to go with a well established larger company such as:
American Express: www. home.americanexpress.com/home/mt_personal.shtml Travelex: www.travelex-insurance.com Travel Guard: www.travelguard.com Travel Insured International: www.travelinsured.com Trip Insurance Store: www.tripinsurancestore.com World Travel Center: www.worldtravelcenter.com
Which policy should I purchase?
When purchasing travel insurance you can either purchase individual coverage for specific events (lost baggage, medical emergencies, flight cancellation, etc.) or you can purchase a package deal that encompasses the “big 5”—baggage, medical, flight, trip cancellation/interruption and emergency evacuation.
When should I purchase a policy?
It is recommended you purchase your insurance within a week of making your first payment on your tour.
How much does a Travel Insurance policy cost?
Travel Insurance fees are usually 5-10% of the total trip cost. Age and trip duration can increase the price further.
If I experience an incident in which I need to use my travel insurance what should I do?
Most quality travel insurance companies have a toll free 24 hour hotline (or a collect number if you are abroad) that you can call. Before you begin your trip make a note of these numbers and then bring them with you. About half of all insurance polices will require you to make out of pocket payments and then seek reimbursement by filing a claim form when you return home. The other half will pay for your expenses directly. Make sure you are aware of and fully understand your insurance’s policies before you purchase a plan.
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