What is Travel Insurance?
Travel Insurance is the line of insurance products that deal specifically with travel. Although people generally assume it means refund of airline ticket, cruise, or vacation price, if you can't go on it, travel insurance is much more diverse than that, and often does not even include that feature (called Trip Cancellation Insurance). The things you can insure range from your baggage to the snow coverage in Alps . Travel insurance is usually sold in packages that selectively include different features. The most common one consists of trip cancellation/interruption insurance, medical coverage, baggage loss or damage insurance, and insurance from various delays. If you are planning to rent a car, you can also add car rental insurance to your package.
Money, Money, Money
One big advantage of travel insurance is the affordable price. Of course, it depends on the coverage level you select, features of your insurance package, the trip duration, and for, medical insurance coverage, your age. However, insurance that can cover most travel, flights, and cruises, will usually cost you 2% - 7% of the total cost of the trip. Not a high price to pay for a peace of mind. This is especially true when you compare the cost of travel insurance to the amount of money you pay for your car and medical insurance. Then you can see how travel for a one-week vacation that includes both, medical and car coverage, is actually less than you pay for that week in medical and car coverage at home for the same week.
Why Could You Possibly Need Travel Insurance?
As most companies claim, travel insurance (just as any other insurance) gives you
a peace of mind. However, it does more than that. It allows you to get money as compensation, should certain things go wrong, which is much more
material than a peace of mind. The two features that are simply necessary are travel medical coverage and trip cancellation insurance. Of course you probably already have medical insurance. However, it, most likely, does not cover you abroad. Even if it does, the insurance coverage might be too low, or impose limits you might want to avoid. Trip cancellation insurance allows you to get reimbursement for fees that you are charged if you need to cancel or cannot complete your trip. Of course, it covers only certain cases and conditions, but even that
is a good enough reason to buy it. It is especially useful when you book far ahead, when it is harder for you to foresee problems that might arise. Besides it usually comes with medical travel insurance in the package.
Travel Insurance Features
As was mentioned above, travel insurance consists of many different features that can be available separately or in a package. Below is a list of those features that VacationSpirit offers to you through
- Trip Cancellation - provides reimbursement for non-refundable trip payments and deposits if a trip is canceled for illness, death or other specific unforeseen circumstances. get insurance with this feature >>
- Trip Interruption - provides reimbursement for non-refundable trip payments and deposits if a trip is interrupted for illness, death or other unforeseen circumstances. get insurance with this feature >>
- Trip Inconvenience - provides a one-time payment to help cover auto insurance deductibles in the event of an accident. get insurance with this feature >>
- Emergency Medical Coverage - pays for the cost of treatment associated with a medical or dental emergency incurred while traveling. get insurance with this feature >>
- Emergency Medical Transportation - arranges to medically transport a patient to an appropriate medical facility or to return home in order to receive care. get insurance with this feature >>
- Baggage Damage or Loss - provides reimbursement for lost, stolen or damaged baggage. get insurance with this feature >>
- Baggage Delay - provides reimbursement for clothing, toiletries and other essential items if luggage is delayed for at least 24 hours. get insurance with this feature >>
- Travel Delay - provides reimbursement for meals and accommodations when a trip is unexpectedly delayed. get insurance with this feature >>
- Travel Accident - provides cash payment for accidental loss of life or limb while traveling. get insurance with this feature >>
- Missed Connection - provides reimbursement for the additional costs to "catch up" to a cruise if the cause of delay is an accident or bad weather. get insurance with this feature >>
- Collision Loss or Damage – insurance for rental cars covers the costs of damage to, or theft of, a rental car. get insurance with this feature >>
- Vehicle Return Benefit - provides coverage for the cost of transporting your personal automobile back home when an unexpected illness or injury prevents completion of your trip. get insurance with this feature >>
- Roadside Assistance - provides services such as battery boost, tire service, fuel delivery, lockout service, mechanical adjustments, extricating/winching and towing should your automobile break down or become stuck while on a covered trip. get insurance with this feature >>
- Flight Insurance - provides coverage for loss of life, limb or eyesight within 365 days of a covered accident, which takes place on a certified passenger aircraft during a regularly scheduled trip or charter. get insurance with this feature >>
- 24-Hour Hotline - provides the traveler with a broad range of services in the event of a travel or medical emergency including: medical referral and monitoring, legal assistance, emergency message center, emergency cash transfer, arrangement of medical evacuations or repatriations, emergency translations, and pre-trip assistance.
Lower Expectations but Don't Miss Opportunities
Many people assume that if they purchase insurance, they can get a refund for canceling a trip because they changed their mind. This is not the case. Insurance provides payouts and reimbursement only in circumstances that are specifically mentioned in the policy. You should not assume coverage for events, unless it is explicitly stated. Therefore, examine your policy carefully before your purchase and if you have any questions about the conditions against which you are covered – ask! Another common mistake is overlooking certain features of your travel insurance coverage. People sometimes think of travel insurance as solely trip cancellation insurance and forget about other features it might carry. For example, your expenses due to baggage delays are often covered, so are expenses incurred due to flight delays, etc. Your travel insurance might include those features. Therefore, it is a good idea to know about them, and file a claim when you are eligible.
Stake Your Claim or Claim Your Stake
Claim process used to be unpleasant, but now it is much easier with online tools that - the partner of VacationSpirit -
TravelSafe offers you. You can prepare, file, and check the status of your claim online. Of course every insurance claim you file needs to be substantiated. Travel insurance is no exception. This is why it is wise to collect all evidence of your expenses during your vacation or trip. This way, if the need to file a claim arises, you will have all the proof you might need without unnecessary headaches.