Planning a vacation? Curious about travel insurance?


We know: All About Travel Insurance

What is travel insurance?

Travel insurance is insurance that you purchase to protect you and your belongings while traveling.

Why do I need travel insurance?

Travel insurance covers you and your belongings in the event that something you hadn't anticipated happens. If you are going to travel, especially outside the United States, travel insurance can be a good idea. From lost or stolen luggage to getting sick or injured in a foreign country, travel insurance can help get you through unpleasant and unexpected occurrences while traveling.

What are some of the things that travel insurance will cover?

  • Lost, stolen or damaged luggage
  • Injuries or accidents including hospitalization
  • Dental coverage
  • Missed or cancelled flights
  • Airline strikes
  • Illness/sickness
  • Lost passport/visa
  • Traveler assistance contact points
  • Death
  • Country specific insurance
  • Worldwide coverage

What are some of the different types of travel insurance?

  • Single trip
  • Annual/Multiple trip
  • Cruise
  • Sportsman vacation
  • Skiing vacation
  • Student/young person
  • Senior
  • Couples/family
  • Business/frequent traveler
  • Backpackers

Are there any disadvantages to travel insurance?

There are two major disadvantages to travel insurance:

  1. Travel insurance is more about peace of mind than anything else. Most people have vacations that go without a hitch and therefore never use their travel insurance.
  2. Most companies make you pay a deductible on any damaged goods or medical expenses before they pay out on the insurance. Therefore, your insurance may only benefit you if you have a substantial claim.

How much does travel insurance cost?

Travel insurance can range in price from as little as $10 to as much as a couple hundred dollars. The price depends on the length of your trip, where you are going, what you plan on doing and how many people are covered by the insurance. If you take more than one vacation a year, it is usually better to get multi-trip insurance or annual insurance. In addition, if you plan on traveling with members of your family, it may be less expensive to get family insurance.



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