It’s time to consider travel insurance

While booking a family vacation there are some important things you should plan for and we’d like to discuss an insurance topic that many people do not know about or elect to not purchase: travel insurance. This is not a product that we (or most insurance companies sell) so this is purely for educational purposes. We want you, our valued clients, to have the best time on your vacation even if something goes awry.

What does travel Insurance cover?

Travel insurance usually has a few different tiers. Some companies offer simple plans that include airline ticket reimbursement if you have to miss your flight for an approved reason, others offer the “Cadillac” package of airline ticket reimbursement, medical insurance coverage, medical evacuation and trip cancellation. There are a smattering of other plans in-between. Deciding which plan is right for your trip will depend on a few factors: cost of the trip, location of the trip and the pre-existing/potential medical issues that could arise from someone covered under the plan. If you are traveling domestically, typically your health insurance should allow for in-or out-of-network medical care. If you are traveling internationally that can be whole different story. Check with your health insurance provider for information about international health insurance coverage. If you purchase a travel insurance plan, make sure to look at the fine print, up to percentages and dollar amounts regarding coverage.

Why do I need travel insurance?

Buying travel insurance is entirely up to you. If you are taking a quick weekend trip and don’t mind losing out on the experience and money if you have to cancel, then no need for insurance. However, if you are spending a substantial amount of money on a vacation, then having a travel insurance plan could help offset the cost if the trip is delayed or canceled. Missing a flight due to traffic can set off a chain of events that could cost a lot of money to fix. Consider Mother Nature; a nasty storm like the recent Polar Vortex grounded several flights for days or volcanic eruption, like the eruption of Iceland’s Eyjafjallajökull in 2010 caused severe flights days in and out of Europe for weeks. While some airlines will work with you on flights delayed or canceled due to weather, some will not.