Five Reasons Why I Always Recommend Travel Insurance
Despite our best efforts, as the saying goes, “the best laid plans of mice and men often go awry.” That’s why I always recommend travel insurance to my clients—to protect them and their investment in case things go wrong. Whether it’s a minor inconvenience, such as delayed luggage, or a major emergency, such as an overseas medical crisis, travel insurance acts as a safety net. And knowing that safety net will catch you provides travelers peace of mind.
If you’ve never considered it, keep reading for the top five reasons why I recommend third-party comprehensive travel insurance including CFAR coverage.
Though there are many different types, I suggest third-party travel insurance (which is more comprehensive than what a cruise line or a tour company may offer). It includes:
• trip cancellations and interruptions
• missed connections
• itinerary changes
• travel delays
• change fees
• miles and reward points reimbursements
• medical expenses due to accidents and illness
• emergency evacuations and repatriations
• luggage loss and delays
For enhanced coverage, tack on a cancel for any reason (CFAR) policy, which, as the name suggests, allows you to cancel your trip for any reason up to 48 hours before your departure and reimburses you for up to 80% of your trip costs based on the policy that is purchased. You must purchase such a policy within one to three weeks of your first trip payment depending on the insurance company's policy. 1. Cancellation and Interruption: Knowing that things may happen in your life and the world that could impact your vacation, you will want to be able to cancel your trip for covered reasons if needed or desired. Trip cancellation and interruption coverage protects you from common problems that could prevent you from embarking on your trip—or interrupt your travel after you’ve departed. This includes:
• sickness, injury, or death of you, a family member, or a traveling companion • transportation or accommodation problems such as workers’ strikes • environmental hazards such as weather delays or natural disasters • governmental requirements such as jury duty, subpoena, or military duty • political violence such as terrorism or social unrest • employment problems such as terminations, layoffs or requirement to work • supplier bankruptcy Trip Interruption coverage is similar to cancellation coverage, but covers you while you are on your trip for the same list of covered reasons. If something happens and you are required to return home, insurance will reimburse you for the lost portion of your trip…as well as any additional expenses for the last-minute flight home.
CFAR coverage adds an extra layer of protection, allowing you to cancel your trip for any reason not already outlined above. That means if you simply change your mind about going on your trip, you can recoup some of your prepaid, nonrefundable trip payments. I personally purchase CFAR coverage for all of my trips to best protect my travel investments. 2. Travel Delays: Do you dread the thought of sleeping in an airport lounge? Missed connection coverage protects you when you experience transportation delays, whether due to weather, mechanical failure, or other causes. You’ll be reimbursed for the expenses you incur due to the delay, as well as for any part of the trip you may have missed. 3. Illness and Accidents: Many health insurance plans, especially Medicare, don’t cover international medical expenses or evacuation. Emergency medical and dental coverage protects you in case of accidental injuries and illness that may occur during your trip. Evacuation expenses can devastating which includes airlifts and medically equipped flights back home. If you need the services of a physician, hospital, or ambulance, or if you require medication, the cost is covered. You need not suffer tooth pain, as emergency dental work is also covered. Depending on the policy, you may be able to add medical coverage for hazardous sports activities like scuba diving. Additionally, emergency medical evacuation coverage protects you in case you need to be transported to a different medical facility for specialized treatment. And if you’re hospitalized for some time, policies may transport you and your dependent travel companions back to your home country.
4. Luggage Loss and Delays: Did you know that, on average, more than 25 million bags are lost per year? Baggage and personal items coverage protects your stuff, paying for anything lost, stolen, or damaged. On top of that, delayed baggage coverage protects you by replacing necessary personal effects while you await the arrival of your luggage held up by transportation carriers, hotels, or tour operators. 5. Worldwide Emergency Assistance: Finally, I can’t understate the sense of comfort I feel having access to worldwide emergency assistance, which helps solve unexpected problems by providing round-the-clock, toll-free assistance. Many insurance companies offer additional support. For example, it can: • arrange medical evacuation • provide legal referrals • give inoculation information • offer translation services • search for lost baggage • lost passport assistance • pay out emergency cash advances • replace medications and eyeglasses Beyond emergencies, assistance experts can provide concierge services, including making reservations, recovery services in case of lost or stolen credit or identification cards, and business services in case of travel delays. With all of this coverage, you may be thinking that third-party comprehensive travel insurance isn’t in your budget. But I promise, at the cost of 5 to 10% of your trip, the sense of security you’ll feel from having this level of protection far exceeds the minimal costs. Especially in this global pandemic, I can’t imagine booking a trip for my family without insuring it. In fact, some other countries are beginning to require travel insurance, especially emergency medical coverage, and it’s likely a matter of time before many more nations follow suit. Contact me today to protect yourself and your trip with third-party comprehensive travel insurance. I work with travel insurance companies that I know and trust to provide a quote to you so that you can book your trip with confidence in a rapidly changing world. As always, I’m wishing you safe and tranquil travels.