Travel Insurance - Are You Protected?
Lately, sales of travel insurance have grown by leaps and bounds due to terrorism scares
, environmental disasters and outbreaks of diseases.Like everything else, you must know the ropes before jumping in headlong. If you decided to cancel your trip due to fear of these potential problems you may find your policy has limited protection for that decision.
For example, you may be concerned about subway bombings or liquid explosive schemes, which are most likely not covered.
Should you plan to vacation near the shore and think about canceling your plans due to a typhoon that may or may not hit your vacation location the chances are it will not be reimbursed by the policy. The purchase of travel insurance would not be beneficial in any of those situations.
The policy essentially would cover lost expenditures pertaining to your trip, which you would not recover. For example, a typical qualified expenditure would be plane fare.
This only happens when you have to cancel your trip, or put it off, or it will pay for the cost of food and rooms if you become stuck somewhere.
If you get sick abroad, travel insurance often will cover the cost of medical care or medical evacuation.
This becomes critical because there is no guarantee that your medical insurance provider is recognized in other countries. However, many travel insurance policies specify that they will not cover certain events or criteria.
a lot of what are known as acts of God are excluded with many travel insurance policies and some of those are what prompted the person to buy the policy.
Several policies do not cover terrorism at all. So, you must select your travel insurance wisely.
Even so, many policies that do include coverage in case of terrorism will only reimburse you for canceling your trip should there be a terrorist attack in one of the cities you would be traveling to, within 30 days of your departure.
A bombing in London that makes you fearful to travel to Paris, or even Manchester in England won't be covered under your travel insurance. You could say there is no insurance for being afraid.
Right now it is that fear that's increasing the travel insurance sales. But fears are the only thing that the majority of policies won't cover.
Insurances companies also have restrictions on when you buy the insurance, many insist that it needs to be bought within 15 days of booking for full covereage.
A lot of insurance companies did pay for food and rooms for their clients when the terror plot in London was exposed in 2006. On the other hand, because in this instance, there was no actual attack, policies did not pay if someone wanted to cancel their plans.
As with any insurance there are variables in their cost, and one of the variables is how expensive your trip is, and just what type of coverage you would like.
Travelers can purchase all-inclusive policies that will pay for lost luggage, flight accident, emergency medical services and medical evacuations, delays that leave you marooned, or cancellations. You have the option of buying just the insurance that you specifically want.
Though not common some policies can be purchased that include a "cancel for any reason" clause. If you cancel your trip up to three fourths of the cost can be covered by the policy if there is a "cancel for any reason" clause. Of course, these policies can be purchased for 40% or more than the usual insurance policy.
170000 travellers protection insurance policies are bought by consumers yearly in the US. Ever since the September 11 terrorist attacks in 2001, the annual sales of travel insurance policies has just about doubled.
With the occurrence of disease outbreaks and environmental disasters, sales are expected to continue to rise.
The thing to remember when there's a major disruption that affects your travel plans, most cruise lines, airlines, and hotels will waive their fees and restrictions for re-booking. Sometimes you don't need the insurance to catch a break.
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