Rarely is that age old adage proven true as often as it is in the context of travel. But some surprises are not as cool as catching a glimpse of a mountain lion or seeing a pod of orcas on a hunt for a meal. Lost luggage, a health emergency, or flight cancellations due to weather are some of the most common mishaps that can sideline travelers and prevent you from enjoying your perfect vacation. That is why travel insurance can be a great investment, no matter what type of trip you are planning. Travel insurance premiums typically represent just a fraction of the cost of your trip, cover you for a wide range of emergencies, and let you rest a little easier both before and during your trip.
The best travel insurance policy for you is going to be the one that offers the specific coverage you need at a price you can readily afford. Here’s a rundown of the most common types of travel insurance, as well as some of the optional benefits you may want to look into.
Basic cancellation coverage, as its name implies, covers you for pre-paid, non-refundable expenses under a fixed set of circumstances outlined in your policy. You can make a claim when must cancel a trip due to a health emergency or illness, for example. Depending on the policy you choose, you may also be able to make a claim if you are laid off from work or you’re called for jury duty. Let’s say there’s a natural disaster in your destination city and one of your travel providers has to cancel your trip. Under cancellation coverage, you would be able to recoup your non-refundable expenses, too.
Trip delay insurance is usually included withcancellation coverage. With trip delay insurance, you will be reimbursed for normal expenses you incur as a result of your trip being delayed. Short departure delays are not covered; policies set a minimum number of hours for covered delays. Meals, hotel charges, and taxi fees are among the expenses covered.
Trip interruption coverage protects you in the event you must return home due to an emergency once you’ve already started your trip. It will pay for the cost of getting you home and getting you back to your destination once you are able to travel again.
If the list of covered cancellation reasons under basic cancellation coverage seems too limited to you, you might want to opt for CFAR, or Cancel For Any Reason. It offers the fullest coverage but may only make sense for you if your calendar is subject to change at a moment’s notice.
Lost, stolen, damaged and delayed luggage is one of the most common—and annoying—travel-related misfortunes. Pay attention to coverage limits and increase yours as necessary. If you are taking your new Maruman driver out for its first run in Scottsdale, you’re going to want coverage at the upper end of the scale! Even more mundane items like laptops and cell phones have replacement costs beyond the limits set by basic policies, so be careful to read your policy closely to be sure your most expensive possessions are fully protected.
Let’s say you’re a diehard Yankees fan. You have timed your trip to coincide with a double-header in the city that never sleeps and, lo and behold, the games get rained out. You might not feel so bad if you’ve purchased specialized event coverage that reimburses you the cost of your tickets.
While travel insurance isn’t terribly expensive when compared with the cost of your trip, there are ways to bring down the cost. If you’re a frequent enough traveler, an annual policy might make financial sense for you. And if you are traveling with a group—to take advantage of a terrific team-building event, for example—buying group insurance is a great way for all members of your party to get the same coverage for less.
Contact Leaps and Bounds Travel for a quote for travel insurance for your next trip!