paris_tower

Why Travel Insurance Matters and What You Should Know

  • Rodger Johnson
Apr 07, 2016

Travel insurance is designed to help travelers when the unforeseen happens. According to the U.S. Travel Insurance Association, the most popular travel insurance is referred to as trip cancellation, often sold as a package, or comprehensive plan.

A group package can include three types of coverage in a policy.

For example, a policy like this can protect you from losing nonrefundable travel expenses, such as, airline tickets, cruise expenses, and baggage loss. It can also cover unexpected expenses, such as, lodging, meals, and incidental expenses when bad weather delays your trip.

Medical expenses can also be covered, from emergency room visits, to medical evacuations – even extended hospitalization for sickness and severe injuries. And travel insurance can provide services, such as, coordinating medical care, finding legal services, securing accommodations, and replacing a stolen or lost passport.

Most travel insurance policies range from four to eight percent of your total trip costs and will more than pay for themselves in an emergency. Travel insurance companies report high satisfaction among clients who have been affected by illness, injury, or natural catastrophe while traveling. In a 2012 survey of people whose travels were impacted by natural catastrophes, for instance, 96 percent of those who had travel insurance reported satisfaction with their travel insurance.

Always Do Your Homework Before Purchasing Travel Insurance

When you’re shopping for travel insurance, do your homework, because not all policies are alike, and they are heavily regulated by states. You will want to read policy information first to understand which circumstances are covered and which are excluded.

Last year we wrote a small guide to help you read an insurance policy.

Purchase Travel Insurance Wisely

When it comes to buying travel insurance there are many choices. And there are a number of ways to purchase it – travel agents, airline websites, online travel agencies, insurance brokers, and other insurance companies.

If you are planning your next adventure, we recommend you do the following:

  • Review policies to understand coverage.
  • Understand, sometimes you get what you pay for. Less expensive policies may not cover all of the circumstance that would otherwise give you comprehensive protection. Being over protected is better than being under protected.
  • Know that most travel policies have a “free look” or refund period. That’s when you should review the policy and retain a full refund if it doesn’t meet your needs.
To plan you travel better, check out TRIP, a consumer advocacy website with helpful information, including timely tips for travel, health, safety, and security.

This website and various social media updates provided by Seven Corners contain content, information, articles, videos, and links to websites created by third parties. Seven Corners, its owners, and its employees neither endorse nor are responsible for the accuracy, timeliness, or reliability of any third-party information, statements, opinions, or advice and are not liable for any loss, harm, or damage caused by your reliance upon them. Use of such information or the linked websites is entirely at your risk. Concerns regarding this third-party content should be directed to the third party. Seek professional advice, as appropriate, regarding your use of the such information and websites.

Because the information on this website and in Seven Corners’ blogs and other social media is written and compiled using knowledge and information available at a certain point in time, it may become outdated. For that reason, information, events, legal requirements, and product changes (including benefits, limitations, exclusions, and services) may not be up-to-date, complete, or accurate at the point in time it is being read. Again, use of such information is at your risk.

Documents

Privacy Information
Terms of Use
Security Statement

Connect with Seven Corners

About Us
Newsroom
Careers

         

Contact Us