It seems like there are a million irksome tasks that require our attention before taking a big trip. Even the most luxurious vacation requires a lot of preparation, not to mention more involved affairs like business trips or study abroad programs. Despite all of the planning that most people put into their travel plans, there is a profoundly important detail that many people overlook: travel insurance.
The reason that travel insurance is so often ignored is simple: most people don’t realize that it is necessary. They assume that their regular insurance policy will apply while they are out of town. In fact, this is often not the case, especially when it comes to travel abroad. As a result, many unfortunate travelers have been confronted by huge expenses that ruin their vacations and, in extreme cases, their finances.
Travel insurance is designed specifically to provide protection when you are away from home. Depending on the extent of your coverage, it can shield you from liability for medical care, loss of property, or the cancellation of your trip. If you can’t afford a package that includes all three, your priority should be travel medical insurance. It will cover health care costs, including emergency care, hospitalization, or other medical related expenses you might encounter. It also usually covers airlift expenses, in the event that you need to be specially flown back home.
Less vital, but still useful, are the types of travel insurance that cover loss of property or vacation cancellation. Often, if an airline loses your luggage, they provide minimal reimbursement (if any). With travel insurance, you would receive adequate compensation for such losses. Travel insurance also covers trip cancellation. That way, if weather, a family emergency, or any other unforeseen circumstance prevents you from fulfilling your travel plans, you will not lose the money you spent on airline tickets, hotels, or other prepaid expenses.
The first step in obtaining travel insurance is to find out what aspects of travel, if any, your current insurance policy covers. The most straightforward way to receive these answers is to contact your insurance agent directly. With the popularity of managed care organizations, the majority of policies do not include travel coverage. (If yours does: Congratulations! Your work is done.) If there are gaps in your present coverage, ask your agent if she offers any travel insurance packages. Often, you will be able to get the best rate from your current provider.
If your insurer doesn’t offer travel insurance, or if you feel the rates are unreasonable, you may want to shop around. As with other forms of insurance, there are countless travel insurance packages available. The simplest way to research rates is on the Internet, where you can often receive instant quotes by answering a few short questions. Before you actually sign up for a plan, be sure to phone the company and talk to a representative. You might also phone the Better Business Bureau to make sure the travel insurance provider is a legitimate and reputable business.
