By Lynn O’Rourke Hayes
From FamilyTravel.com
Recent world events have travelers pondering the potential benefits of travel insurance.
Here are five tips to consider.
Where to Start?
Selecting travel insurance can feel a bit overwhelming. You can begin to simplify the process by taking note of the various components of your trip—air, car rentals, hotels, or perhaps a cruise or adventure trip. The cost and what coverage you might need or want will be dependent on these variables.Consider visiting one of several aggregator sites where you can get a broad overview of the insurance marketplace. Sites including SquareMouth.com, InsureMyTrip.com and CoverTrip.com can help you understand how coverage can help should you or a family member become ill or lose a passport, or should a natural disaster make travel impossible.
These sites can provide insight including sample quotes, comparisons, and customer reviews.
If you find a company you like or have received a strong recommendation from a friend, you can dive deeper with a single organization.
What Might Be Covered?
You’ll want to review the details of a range of policies and how various mishaps will be handled. What happens with the loss, delay, or damage of your baggage or when your trip is delayed or canceled? What does the policy cover should you need to interrupt the trip due to an injury or illness or as the result of a family emergency at home? Can you acquire coverage that provides assistance if you or a family member needs emergency medical coverage or evacuation? Policies that promise you can “cancel for any reason” may have some exclusions, so be sure to dial in to the details.Your Credit Card May Provide Coverage
Check your credit card’s website to determine whether the cards you carry provide coverage should your flight be canceled or your luggage be lost, delayed, or damaged. You might be pleasantly surprised. Know what coverage you have before buying additional insurance so you aren’t wasting resources. And, of course, you will only be covered for services paid for by that card. If you have a Mastercard, you can check for coverage on MyCardBenefits.com.Is COVID-19 Covered?
Coverage for pandemic-related travel challenges has evolved and varies by policy. Compare policies with this in mind. Take note of what restrictions might be in place and how reimbursement rates vary. It’s also important to be aware of which countries require travel insurance and other health-related stipulations at the time of your departure.How Much Does It Cost?
Estimates vary from 4 percent to 10 percent of the cost of your trip. Experts advise travelers to consider how much they are willing to risk by not insuring the trip. It’s also possible to mix and match resources by utilizing coverage provided by your credit card, an employer, your existing medical insurance, and additional coverage where you see a gap.Further, review the impact of timing on your insurance purchase. You may lose some benefits if you wait too long to buy coverage.
Lynn O’Rourke Hayes (LOHayes.com) is an author, family travel expert and enthusiastic explorer. Gather more travel intel on Twitter @lohayes, Facebook, or via FamilyTravel.com
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