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| And no it's not a travel pillow |
Think about the last time you rented a car.
Did you take the optional insurance?
Do you see that insurance as a good investment or a waste of
money? It seems like a good percentage of travelers say no to this optional
upgrade for a variety of reasons.
The most common reasons are that they believe themselves to
be a “good driver” and that they have car insurance at home that will cover
them in a rental car… or that the credit card they used to pay for the rental
offers additional coverage as well.
I don't have strong opinions on rental car insurance, but
when it comes to travel insurance, I'm always ready to hop up on my soapbox and
let my clients know what I think!
I, like any travel professional worth their salt, recommend
travel insurance to each and every one of my clients. Unfortunately, most
travelers don't understand what the policy covers and when they really should
be spending the extra money to purchase travel insurance.
“We know we aren’t
going to cancel so we don’t need cancellation insurance.”
If I had a dollar for every time I’ve heard a client speak
those words, I’d be jet setting the world and probably writing this from a luxury
over the water bungalow in Bora Bora!
Let me be clear, travel insurance is so much more than
cancellation insurance! In fact, as a travel professional, it’s my opinion that
the “cancellation” part of your policy is one of the least important things to
consider!
While there are simple cancellation insurance policies
available, true travel insurance covers so many things that you probably aren't
even thinking of when you book your vacation. Things like travel delays, lost
luggage, lost or stolen valuables, medical emergencies (for a member of your
travel party or a loved one at home), dental emergencies, evacuations, lost
travel documents, and more.
“We have health
insurance coverage so we’ll be fine.”
That's another comment I hear often, and while that may be
true if you are traveling within the US, more than likely it isn't going to
help for international travel.
It is highly unlikely that your regular health insurance
will cover anything at all if you are outside of the US. Check your policy
carefully before you decide to rely on it for international travel. Even if it
provides some coverage, you will probably be required to pay for any treatment
or medication out of pocket and then file for reimbursement when you return. A
good travel insurance policy will usually allow the doctor or hospital to bill
them directly up to your coverage limitations.
There are certain situations where I believe travel
insurance should be considered a must. I feel so strongly about this that I ask
my clients in these situations to sign a waiver if they choose to decline to
purchase a travel insurance policy.
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International travel – A medical or dental emergency
abroad can be financially devastating. Many hospitals will collect your
passport at admission and will not return it until your bill has been paid. Do
you have the financial resources to handle a medical emergency should one
arise?
·
Cruises – While there is a doctor on board every
cruise ship, the ship's infirmary can only handle simple things. Should you
have a medical emergency, you would need to be evacuated off of the ship by
helicopter. Onboard a cruise ship, a medical emergency can be something as
simple as a broken ankle. The cost of evacuation from the ship is typically in
the tens of thousands of dollars… and it won't be covered by your health
insurance even if you are evacuated to a US port.
·
You, a travel companion or someone at home has a
chronic medical condition – Travel insurance will cover cancellation for
illness or injury of a member of your travel party or a family member at home.
The decision to stay home and lose potentially thousands of dollars in
nonrefundable fees can make an already stressful situation even worse. Better
to be able to get those fees reimbursed and plan your travel for a better time.
(NOTE: make sure to check your travel insurance policy for any pre-existing
condition terms. There are policies available that waive these clauses if
purchased within a specified time frame after booking).
Travel is an investment.
You’ve likely saved for your vacation for quite some time. Be sure you are
making a smart decision in how you want to protect that investment! Take the time
to review and discuss your travel insurance needs before each trip.
