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Travel insurance is a common aspect of vacationing for some people. Others may not fully understand how it works, while others may not even be aware of it. These policies can cover against numerous things, starting from lost luggage to injuries sustained while out enjoying yourself. Some parts of the coverage are straight forward, and you will have no issues understanding it. Some parts of the policy, though, may leave you uncovered, and other sections you may not even know about.
- Credit Cards – Credit cards can offer you many things, including travel insurance. Read your terms and conditions on the card that covers travel and see if it is an adequate amount. More than likely, you will have to get a small policy to fill in the gaps before you leave. Remember, that most of the time the credit card insurance plan will only cover things that you have purchased using the card.
- Cancellations – Most policies will cover the expenses that you have paid out in case you have to cancel your trip. They will have a list of reasons that they cover, and a list that they do not. Be sure to have a clause that covers cancellation reasons that you feel could come up.
- Pandemic – When it comes to cancelling due to a new pandemic you need to know that you, more than likely, will not be covered. If the world, or nation, falls under attack by a virus or disease that was not listed in the paperwork, you will have to take the chance of going through with your trip, or you will have to eat the costs if you cancel.
- Electronics – With the increase in use of technological items, it is important to make sure your policy covers all the electronics that you plan to take. Basic plans only cover up to a set amount so you may want to purchase an extra plan to make sure that all your items are covered, if something happens to them.
- Pets – Many people take their pets when traveling. They are part of the family. Many travel insurancepolicies will cover your fur baby if they need to go to a vet for an emergency. They may even cover the costs of transporting back home if something should happen to you.
- Document – Make sure that you document everything from the planning stage, to traveling, and throughout the return stage. Many claims are denied due to consumers not having the proper documentation. If you think something could affect you or your trip, have some type of documentation so you can prove what you say.
- Alcohol – Part of being on vacation, for some people, includes drinking exotic alcoholic mixtures that your destination specializes in. This is okay if nothing bad happens to you while you’re intoxicated. Most policies will have a clause that excludes any claims due to alcohol or drugs. If you fall down a flight of stairs and break your leg while drinking, it will be out of your pocket to get a cast and pain medications.
- Bankruptcy – With the uncertainty of companies, due to the pandemic, you may need to get a policy that covers if your airline, or cruise ship, should file for bankruptcy. In this case, the only guaranteed way of getting refunded is to have a plan that covers it.
- Job Loss – This is also an important part of a plan because of the troubled times that we are all living in now. If you lose your job, this section of the policy could pay you up to one hundred percent of the expenses that you have put out. Canceling travel plans in this instance will be necessary to stay ahead of bills at home.
- Death – Nobody wants to think about this happening while traveling, but it does. Your death, or one of your family members, can bring a trip to an abrupt halt. A good policy will cover the costs to transport the body back home, as well as cover any cancelation fees or return fees that are required.
It may surprise you to know that a policy designed for you is not out of your price range. The National Association of Insurance Commissioners states that a good policy will only cost four to ten percent of the cost of the trip. This small amount is well worth the money that you spent if you ever need to file a claim.
There are lots of in and outs when it comes to travel insurance. Each company may have different restrictions or coverage ideas. Read the policy that you plan to get, make changes as needed, and if the plan is not adequate find a new carrier that will meet your needs.
