The truth about travel insurance
Do You Have the Right Travel Insurance?
With more travelers than ever purchasing travel insurance, it's more important than ever to understand the truth around this often-confusing benefit.
Generally speaking, travel insurance is designed to do two things:
1. Protect your non-refundable travel expenses in the event you cannot use all the
services you purchased
2. Provide coverage if you have a medical emergency outside of the U.S. that isn't
covered by your U.S. health insurance
Most policies also include coverage for lost luggage, trip delays, and trip interruptions.
As you compare your options, keep in mind these four things:
Truth #1: Timing Is Everything
To get the most comprehensive coverage and avoid missing out on benefits, it's wise to purchase travel insurance within a week of making any purchase related to your trip–even if that purchase is a small deposit on a future cruise you're hoping to take two years from now.
For example, to get Cancel for Any Reason (CFAR) coverage, you may need to purchase it immediately, or you may be able to wait a few weeks. Be sure to check the deadline because CFAR cannot be added once it has passed.
Truth #2: Beware of Exclusions
Did you know? Travel insurance plans automatically exclude coverage for pre-existing medical conditions for you, your travel companions, family members, and business partner(s).
Most travel insurance providers offer waivers for pre-existing conditions—often at no additional cost to you—as long as you purchase your policy by a specified deadline (usually within 10-21 days of your initial trip purchase).
Ensure you understand all the inclusions and exclusions of your policy and be aware of waiver deadlines.
Truth #3: Not All Policies Are Created Equal
Before purchasing a policy, carefully read and make sure you understand every word … the inclusions, the exclusions, the waivers, and the coverage limits.
For example, if you test positive for COVID at the end of your trip and can't return home for several days, does your policy cover that scenario? If so, how much? Is it enough? If not, be prepared to pay for those expenses out-of-pocket.
Truth #4: You Pay for What You Get
The cheaper the policy, the more limited the coverage. Expect to pay a higher premium to get the most comprehensive policy with the highest coverage limits.
So how do you choose which policy to get?
That's where we come in.
As travel advisors, we work with reputable, respected travel insurance companies. We work with travelers like you, which means we know what questions to ask so we can connect you with the best insurance companies for your needs, narrowing down your search.
If you have specific questions about policies and coverage, we will connect you directly with the insurance company. Once you're confident with the policy you want to purchase, we can help complete the process.
If you're ready to plan your next trip or need travel insurance for an existing one, we can help! Give us a call or schedule a time to chat.