For many, spring break is the light at the end of the tunnel. People can't wait to escape after enduring months of snow and cold.
For families traveling somewhere warm, such as Mexico, Jamaica, or the Bahamas, a spring break adventure can be a once-in-a-lifetime opportunity, not to mention a significant investment.
Not only does a trip cost a good chunk of change, but there’s the time and effort put into researching a destination, comparing flight options, or working with a travel agent. In addition, people usually book these trips well in advance, which can cause uncertainty when you don’t know the future.
So what happens if your departure day arrives and a spring snowstorm cancels your flight, or you or a family member become ill?
Consider purchasing travel insurance to protect yourself from the financial devastation of a canceled trip.
Travel insurance policies provide many types of coverage.
1. Trip cancellation.
Provides coverage in case you have to cancel your trip due to illness, bad weather, bankruptcy of your travel supplier, or a death in the family.
2. Medical emergencies.
Provides coverage if you are hurt or become ill while on vacation. Existing health care coverage can help you in the United States, but outside the country, health care is very different and often requires some type of upfront payment.
3. 24/7 worldwide assistance.
Provides help if your flight is canceled, you have a medical emergency, or your passports are lost or stolen. If you booked the trip yourself, this assistance may be worth its weight in gold. Assistance is usually provided for those who use a travel agency if a situation occurs.
Here are some things to consider when determining if travel insurance is right for you.
1. How much does the trip cost?
Know what your cancellation penalties are and how much you’ll lose financially if you have to cancel. For a weekend getaway, travel insurance isn’t necessary; however, a seven–to ten-day trip to Jamaica may be a different story.
2. Does your current homeowner’s or renter’s policy provide coverage?
Check with your local independent agent to see if your insurance policy covers lost or stolen luggage or other personal belongings.
3. Does your credit card offer any protection?
Check with your credit card company to see if they offer protection based on the type of cardholder you are. Some companies may provide rental car coverage, lost or stolen baggage coverage, or even coverage if your travel provider discontinues service.
4. What’s your activity level going to be?
If you’re planning on lying on the beach and catching rays for a week, the likelihood of you being injured isn’t very high. But if you’re going on an adventure-filled vacation that includes scuba diving, zip-lining, or driving off-road vehicles, you may want to consider a travel insurance policy.
Choosing the right insurance company and policy to meet your travel needs can be challenging. Please contact your local independent insurance or travel agents to find the right policy for you and your family.
Do you have any suggestions or information you’d like to share? I’d love to hear from you. Please share them in the box below.
Source:
http://www.iii.org/
