In this modern age of last minute flights, round the world travel, and tickets bought on your computer, it can be easy to forget about how important it is to purchase travel insurance for your trip. As a reminder, here are the top four things you should know about travel insurance.
1. It is important to purchase travel insurance as soon as you pay a deposit for the trip.
One of the biggest benefits to having travel insurance is that if certain circumstances occur that prevent you from being able to take your vacation, you can be refunded the amount already paid out, whether that is a deposit or the entire cost. Every day that you have paid for the trip but not purchased travel insurance is an extra day that your hard earned vacation money is at risk. Some reasons that you might need to cancel a trip before it has even begun include things like:
-Sudden illness of you or your travel companions
-Death in the family
-Damage to your home, which requires you to be nearby (including fires or floods)
-Loss of your job
2. Many travelers mistakenly believe they don’t need travel insurance because they already have health insurance. However, nearly all health insurance policies fail to cover international travel, and will not protect you when abroad. Not only will travel insurance cover medical costs if you have an accident on vacation, but it can also organize and pay for medical evacuation, which is especially vital if you plan to travel to an isolated tropical destination, or a third world country.
3. Although it is nice to think that airlines never lose or damage baggage when traveling, it does unfortunately happen from time to time. Often, the airlines only cover a portion of the value of your travel items, and also won’t pay to replace them on short notice once you have arrived at your destination. Travel insurance can mean that you are covered for the entire value of your belongings, and may also be reimbursed for the last minute items you have to purchase while on vacation. In addition, they can help cover costs of items that are damaged on trains, while being portered in hotels, or just from accidents that happen while traveling.
4. Many types of travel insurance include car insurance, which is especially helpful if you plan to rent or drive a car while on vacation. When you rent the car, you will not have to pay for car insurance again, as you are already covered. Your travel insurance should pay for things like medical fees due to an accident, or roadside assistance.