Many people are of the view that vacation or travel insurance is nothing but a rip-off. If you also think the same, consider this: Getaways don’t always go as you plan them, and if you have doubts about it, ask anyone waylaid by the Icelandic volcanic-ash cloud last year. You may have to suffer financial losses, but your travel coverage can soften the blow. A comprehensive package doesn’t cost you more than 4-8 percent of the total cost of the trip but reimburses you for unexpected medical emergencies, hotel stays, and charges for canceled or interrupted trips.
While it is true that getting a policy for routine or short-distance domestic travel doesn’t make a lot of sense, you should never go without it any time you need to prepay for travel services or make a big deposit of $1,000 or more.
By digging deeper into the details, you will come to know that there are different types of travel insurance policies available today. The most basic of them all is the one that you usually get with an airline policy. This is mainly for trip interruption or trip cancellation. If due to some circumstances you have to cancel your trip, this particular policy pays you for nonrefundable, prepaid costs. There could be anything stopping you to continue with your trip. This may include death of a family member, subpoena to appear in court, jury-duty summons, layoff at work, or any other events beyond your control, like a terror attack or natural disaster. Not only this, baggage delays and travel delays are also included in this basic coverage. It is true that if you are buying a couple of plane tickets, it is quite tempting to skip paying a few extra bucks for insurance. But if you are planning more expensive trips, such as tour packages and cruises, it is worth taking out coverage for the peace of mind.
In addition to this basic coverage, there are some other types of travel insurance policies available for you to make a choice. For instance, you can get a medical/health policy to cover dental and medical expenses incurred because of some illness or injury. You don’t seem to have plans to fall into a sewer in Paris, but if you end up being there, you will be glad you had medical coverage.
It is important to point out that along with buying the basic or medical coverage, you can also put your money on medical evacuation coverage. This coverage comes in handy when you need to be transported to a hospital. If you are in a remote area and injure yourself while exploring the natural beauty, you may need a helicopter to get out of there. This could be an expensive proposition, but not really with medical evacuation coverage in place. You can include it under your basic medical coverage, or you can also purchase it as a stand-alone policy.
These are the most common types of travel insurance policies. Just spend some time to learn about all of them to make a right choice.