Heading out on vacation? Whether you’re bound for the trip of a lifetime or a small family vacation, you’ve likely considered travel insurance (and if not, maybe you should!).
Planning a vacation – especially if it’s well in advance or you’re traveling a great distance (hello, Rome!) always put you at risk for loss – whether a health issue makes it difficult to travel or a natural disaster hits your destination. Travel insurance is a great way to protect your health and what you’ve invested in the trip, but it also requires you to do a bit of research – not every entity offering travel insurance is worth your while (and certainly not worth your money).
Here are some helpful tips to finding the right insurance for your needs.
Get to know the market.
Before you can make an informed decision about travel insurance, you’ll need to get to know what’s out there. Above all, you should know that not every travel insurance policy offers the same coverage.
For example, a travel insurance policy may offer compensation for trip cancellation, trip interruption, medical and dental care, accidental death or dismemberment, loss of luggage or personal items, and even protection against the bankruptcy or default of your cruise line or tour company. The policy you choose could include a few of these coverages, but not all.
It’s important to know what you’re really getting before you make a decision.
Find out if you’re already protected.
There’s no point in spending money when you don’t have to. For that reason, you should always check with your current insurance products to determine whether you have any coverages for travel.
Speak to your health insurance provider to see if you are covered for accidents or illnesses that happen overseas or out of state, and if so, which medical facilities are covered. You’ll also want to speak with your home or renter’s insurance provider, as they may offer some compensation for lost luggage or personal items while you’re on vacation.
Get to know your credit card benefits.
Additionally, your credit card company might offer protection as well. If you’re putting your travel expenses on a credit card, check to determine what protections the company offers. Some credit card companies offer insurance for rental cars, lost baggage protection and perhaps even accidental death and dismemberment coverage.
To be eligible for travel coverages with your credit card, you may have to notify the company that you’re traveling, so be sure to ask about eligibility requirements.
Go to an established insurance agency.
When you’re making travel plans, you’ll see no end to offers of travel insurance – from airlines, hotels, cruise lines and tour operators. However, you’ll likely be safest – and get the best deal – by consulting an established insurance broker who can help you find a policy that works for your needs and your situation.
If you’ll be traveling in the near future and want to know your options – without getting the hard sell – we can help. Just give us a call.
Ask questions – lots of them.
While you’re shopping, it’s important that you understand what you’re getting in a travel insurance policy. There are no silly questions when it comes to insurance coverage, so don’t be shy. Good questions to ask are, “what disasters are covered?” “Are there restrictions to the policy?” “What kind of medical assistance can I expect in case of emergency?” “How will I be reimbursed?” Your travel insurance policy should offer you some peace of mind – not confusion over how to use it!
Heading out on the trip of a lifetime? Be sure you’re protecting your investment – and gaining the peace of mind you’ll need to really enjoy yourself. At Tyler Insurance Group, we can help you find the perfect travel insurance plan, so you can enjoy your time away.
