What is travel insurance, why should you consider having it and much more will be revealed in this article.
If you travel often you have probably had something lost or stolen during your journey.
It’s just a part of travel and one of the many reasons I recommend having travel insurance.
Travel Insurance Facts
Travel insurance can help cover many unexpected events during your trip.
The Following Are Some Facts You Should Know About Travel Insurance:
- Provides protection for trip cancelations
- Insurers lost or stolen luggage
- Financial protection for trip interruptions
The coverage provided will depend on the provider and the coverage you select.
After a trip across the country, I had such a horrible time with unexpected events and losing valuables along the way that I looked into travel insurance and found that for me it’s well worth the cost.
How Travel Insurance Works
Travel is fun but it can also be stressful and exhausting.
Once your plane lands and you are at your destination the last thing you want to worry about is lost or stolen luggage among other problems that can occur as you go on your trip.
As with having any insurance, it’s the peace of mind of the coverage you get from it that is the main benefit.
You don’t think you need it until you do.
With that being said if you are considering adding insurance for your travels you may be curious as to how it works.
In order for it to work you’ll need to have it before you travel.
When you do your research look for the coverage options each provider offers not just how much it costs.
You may think you have something covered that wasn’t available from the provider you selected.
Some Of The Coverage Options Are:
#1. Emergency Medical Coverage: This coverage is for being injured during your travels.
#2. Accidental Death And Dismemberment Coverage: This coverage is for accidental death during your trip.
#3. Lost or Stolen Luggage Coverage: You can get reimbursed for lost or stolen luggage as well as personal items.
When you are choosing your insurance there are some options for you to consider.
Below Are Some Of The Coverage Types Available:
Basic Coverage: If you are just wanting the basic coverage that you consider essential this coverage is probably a good place to start.
Customer Coverage: Some providers have customer coverage options where you can select your wants and needs. And leave out the things that are not as important to you.
Comprehensive Coverage: This is the most extensive coverage to choose from.
How To File A Claim:
If you need to file a claim it’s easy to do.
Here Are Some Important Things You Will Need When Filing Your Claim:
Provide documentation of the event that caused your loss. Some examples are a police report or doctor’s note.
Contact your insurance provider’s claims department and provide proof of payment, your policy info, and the events that happened during your trip.
You should check your policy for your insurance company’s guidelines when filing your claim.
List Of Some Travel Insurance Providers
There are many insurance providers to choose from although some of the most popular are listed below:
#1. Allianz – You can select from a wide range of coverages including flight delays and rental car coverage.
#2. World Nomads – This is a great choice for backpackers and students that travel worldwide. As with many of the providers you can choose from a large array of options.
#3. Berkshire Hathaway – You’ll get coverage from a trusted provider with trip cancellations, accidental death, and much more. They also have reviews stating their customer service is great.
There are many insurance providers that can help you obtain travel insurance. Do research I wouldn’t just go with the cheapest or first company you find.
What Are the Advantages And Disadvantages Of Travel Insurance?
There are some advantages and disadvantages when it comes to travel insurance.
Below Are Some Things To Consider The Pros And Cons:
The Advantages Of Travel Insurance:
#1. It provides financial peace of mind
#2. You may be provided additional coverage depending on the provider and the coverage
#3. Some policies include emergency assistance for expenses for medical costs and arranging transportation
The Disadvantages Of Travel Insurance:
#1. It’s not free it’s an additional cost for you
#2. You may get frustrated with the claims filing process or find it to be difficult
#3. Sometimes the claims process can take long
Overall travel insurance provides peace of mind and for me, that’s worth the added expense and the effort to find a provider.
Conclusion
Now that you know what is travel insurance.
It’s probably not something you need if you rarely travel.
Although even for those that only travel once and a while it may be the peace of mind you need to enjoy your trip that much more.
Make sure to research insurance providers for the best rates, options, and reviews.
Insurance is one of those things you really don’t think about until it’s too late.
I hope you found this article valuable and if you did please share it and make sure to check out my other articles HERE.