By Stan Sandberg, Co-Founder of TravelInsurance.com
Vacations should be fun and carefree, but that doesn’t mean you shouldn’t prepare for the unexpected. Travel insurance can provide protection in the event of inclement weather, injury, illness, or worse. TravelInsurance.com, a premier travel insurance comparison site, offers insights into what should you be looking for when considering your options.
1) Consider the Type of Trip You’re Taking
What kind of trip will you be going on? If it’s a shorter trip, a less comprehensive policy might be enough. If it’s a longer trip to an exotic location including multiple stops, think about how many more unanticipated events, from flight delays to cancellations, illnesses, and severe weather, can happen. If you’re on an adventure trip that could include ziplining, mountain biking or extreme sports, you will definitely want to make sure that you get a policy that includes the correct coverage.
2) Consider Your Coverage Options
If you have a pre-existing medical condition, you want to make sure that your travel insurance can cover any issues related to it. Not every policy covers it but some will offer a pre-existing condition exclusion waiver if certain conditions are met. Emergency medical coverage is another important consideration. Look for a travel insurance policy that can cover a medical evacuation in case illness or injury prevents you from continuing on with your trip. A medical evacuation paid out of pocket can put a dent in your net worth, setting you back literally hundreds of thousands of dollars. Many travel insurance plans offer a medical evacuation benefit bundled with other useful benefits such as baggage loss, missed connection and emergency medical event coverage.
An insurance policy is literally a contract, so always make sure to read the fine print when considering a policy or call a licensed agent to help explain the coverage details. Can you get reimbursed for prepaid expenses such as hotel costs in case of a flight cancellation? Will you be reimbursed in case of severe weather? These are just a few questions to consider when comparing different travel insurance plans.
3) Consider the Costs
Older travelers are of course more prone to injury or illness, so expect to spend more on your travel insurance policy as you age. And longer trips of more than 30 days will be more expensive than trips under 30 days. The AARP notes that travel insurance with trip cancellation protection can add 5 to 8 percent in additional trip costs to your vacation, but that’s a modest investment in a trip that may cost thousands of dollars. Web sites like TravelInsurance.com can help you compare different travel insurance policies side-by-side.
Stan Sandberg, Co-Founder of TravelInsurance.com