Is Travel Insurance Necessary?
TRAVEL INSURANCE A MUST HAVE?
Travel insurance becomes important when you have a lot to potentially lose in nonrefundable deposits for a trip.
This could include non-refundable airline tickets, a hotel that doesn’t have a great cancellation policy and pre-paid excursions like guided tours.
If you’re traveling outside the U.S., travel insurance is also important for its travel medical benefits. U.S. health plans and Medicare generally offer no or little coverage outside the U.S. If you become ill or injured in another country, you definitely want to have travel medical insurance. If you do not purchase additional travel insurance call your medical insurance company to check on coverage before you leave on your vacation.
WHAT DOES MOST TRAVEL POLICIES COVER?
The two most important benefits in a travel insurance policy are for trip cancellation and medical benefits. The trip cancellation coverage comes to your rescue if you have to cancel your trip because of a reason listed in the policy. If you have made large trip deposits that aren’t refundable, this is great coverage to have.
Also important is the travel medical coverage to help with doctor and hospital bills, especially if you’re going outside the U.S. From there, you can add a variety of benefits, depending on what your main travel concerns are. For example, there’s coverage for lost or damaged baggage, reimbursement for money spent because of travel delays, missed connection coverage and other options.
Speak to a travel insurance agent, who can match coverage to your needs.
WHAT ABOUT PRE-EXISTING CONDITIONS?
Travel insurance will cover pre-existing conditions, but only if you buy the travel plan shortly after making your first trip deposit -- usually 14 to 21 days. You want what’s called a “pre-existing medical condition exclusion waiver.”
So it’s smart to plan your travel insurance purchase along with your trip, so you don’t miss the window for this waiver.
HOW CAN A TRAVEL AGENT HELP?
A specialized travel insurance agent is an important resource in your trip planning. The agent can make sure your travel insurance matches the concerns you have for your trip, such as illness or lost luggage. And they can compare plan prices for you.
You might be offered a standard travel insurance plan from one of your travel providers, such as a cruise line.
But using a travel insurance agent will allow you to customize a policy and make sure you have ample benefits for the coverage you want, such as good medical benefits.
WHAT HAS CHANGE SINCE COVID?
There are many benefits to working with a qualified travel advisor. The ability to keep their clients safe by updating them on the latest travel advisories and entry requirements. Also, booking them with travel supplier or cruise lines who are emphasizing guests safety and protocols in place for any health emergency.
It’s important to note that not all travel insurance plans cover Covid-related trip cancellation and medical benefits. Be sure to talk to your physician about your health and travel plans.