Clay Coomer | Aug 11, 2015
It’s something we don’t want to think about when planning a vacation. After all, vacations are supposed to be fun, joyous occasions to [briefly] escape reality. Unless of course you’re traveling with kids.
It doesn’t even have to be a vacation you’re planning. Maybe you’re taking a business trip. Regardless of the destination, you must consider the “what ifs” while you’re traveling.
There are certainly more scenarios that could be played out but for the sake of brevity, we’ll keep it to the five most common you should consider.
There are a lot of external factors that might cause you to cancel a trip. Maybe you fell ill, lost your job or were in a traffic accident on your way to the airport. Either way, without trip protection insurance, you’re potentially out hundreds or even thousands of dollars.
When reviewing trip insurance plans, be sure to read the fine print to ensure you understand the covered reasons for canceling your trip. They vary by policy.
Again, there are many reasons your trip could be interrupted. Perhaps you have to return home because of a death in the family or something has happened to your house. If you decide to bail on your trip completely mid-way through, the consequences could hit your wallet pretty hard.
Consider trip insurance “wallet protection.” If you choose the right policy, trip interruption coverage is included up to 150% of the cost of the trip.
We’ll ask a follow up question to that: Does your health insurance cover you outside of your home state or outside the country? There isn’t a straightforward answer here. This is something you’ll need to find out through your insurance carrier.
Depending on the policy, most trip insurance plans include medical expenses — typically ranging between $10,000 and $250,000. Travel medical plans typically offer higher medical maximums, with some as large as $5 million.
Talk about your worst case scenario. But, we can’t say it has never happened — that’s why it’s included as a part of a trip insurance policy. Without coverage, the medical bills are guaranteed to be monumental.
With medical evacuation coverage, you have the peace of mind knowing that if a serious injury occurs on your trip causing you to be evacuated, you’re protected.
You have checked bags. You arrive at your destination and you take that long walk to baggage claim. You wait by the carousel checking your iPhone periodically as minutes tick by with your bags nowhere to be seen.
You’re patience has worn thin after an hour goes by and you receive the news that your bag didn’t make it. Now what? Better find the nearest mall or enjoy your trip in the clothes on your back!
With a trip insurance plan that includes lost baggage coverage, you can be reimbursed up to $1,000.
Important information from the United States Fire Insurance Company.