Travel insurance can be a great investment, especially when you’re traveling to exotic destinations, have multiple connections, or plan to engage in adventure activities. VACAYA highly recommends purchasing a policy to protect your hard-earned vacation dollars. The key is choosing the right policy for your specific needs. The following can help you find just the right policy:
- Check whether your credit cards, auto-club memberships, homeowner/renter coverage, or employer provide policies that include coverage for overseas travel.
- You always want to choose a third-party insurance carrier to provide your coverage. You’ll have the option of purchasing an independent third-party policy at the end of your online reservation with us.
- Pay attention to coverage for pre-existing medical conditions, and make sure the policy provisions are broad enough for each individual passenger. For example, Medicare group coverage for seniors may not be available for treatment outside the US. Many policies will include coverage for pre-existing medical conditions if you purchase the policy around the same time that you make the initial deposit for your trip.
- Policies that include evacuation provisions are preferable, especially when traveling to third-world areas, as the medical standards in many countries is below that of the US.
- Review the terms of terrorism protection in the policy to ensure it includes the surrounding areas of a terrorism incident, not just the cities on the itinerary.
- If you are a frequent traveler, acquiring an annual travel coverage policy may be a bargain.
- When comparing policies, don’t assume similarly priced policies provide identical coverage. Carefully review the covered and non-covered grounds for cancellation.
- “Cancel for any reason” policies are expensive, but conducting an analysis of the additional costs for this type of coverage and your particular needs may prevent trouble later.
- Term life insurance is less expensive through your broker than the insurance machines at the airport.
- Additional baggage coverage is strongly advised considering the airlines’ limited liability of $3,300 Domestic / $1,600 International for baggage loss or delay.
For more information on this topic, be sure to read Vacayan John Finen’s Travel Insurance 101 blog.