Planning a vacation is often where the fun begins! You search the web for the best hotels, marvel at the gorgeous landscapes you can’t wait to visit, and fill your itinerary with exciting things to do. But, while these are all essentials that will ensure your travels go smoothly, you must not forget about something less fun – insurance.
Although no one wants to think about what can go wrong while traveling, it is better to be safe than sorry. Travel insurance is a financial lifeline should anything go wrong.
Before buying travel insurance, it’s important to know what the plan covers to be prepared for any unforeseen mishaps.
Comprehensive Travel Insurance
As the name suggests, comprehensive travel insurance covers a wide range of eventualities and is usually purchased for luxury travel, overseas trips, and cruises. Still, it may be worth buying for local trips, depending on where you’re going and the length of your trip.
Even with meticulous planning, things may go wrong, and in such a case, comprehensive travel insurance will cover you in the event that:
You need to cancel your trip
When you book a vacation, whether an all-inclusive package or cruise, or purchase flights, accommodation, and tours separately, you must pay a non-refundable fee in advance. But what if life happens, and you have to cancel your trip?
If you’ve purchased travel insurance and need to cancel your trip, your insurance will reimburse you so that you don’t lose out on the money you invested. However, it’s important to remember that your travel insurance will only pay out if you cancel your trip for one of the reasons the insurance covers.
In most cases, comprehensive travel insurance will cover you if you can’t travel because you’ve fallen ill, a close family member has fallen sick or died, or your travel companion is ill or deceased. You will also be protected if there is a natural disaster or civil unrest in the destination you had planned on traveling to, making it unsafe for you to visit.
Delays and Interruptions
As annoying as delayed flights are, they also can have financial implications. You might need to pay for additional accommodation and food or, in some cases, book a new flight. In this case, your comprehensive travel insurance will cover the costs.
You will also be compensated for other losses that are out of your control, like if you can’t travel because of poor weather.
Loss or Damage to Personal Property
If you’ve landed at your destination and waited for your luggage, only for it not to arrive, you don’t need to panic. Your comprehensive travel insurance will compensate you for your lost luggage.
The insurance may pay to have your item repaired or replaced if your items were lost, damaged, or stolen during your travels.
When buying insurance, ensure you know the limits so that you are adequately covered. You must read the fine print to know what items are covered in your plan, as some things like expensive jewelry and cash are not covered.
Medical Expenses or Emergencies
Although private health insurance is crucial for quality healthcare, it only stretches so far. While traveling abroad, getting sick or injured can be stressful and very expensive, and in most cases, your private health insurance won’t cover the costs. Fortunately, with comprehensive travel insurance, you will be covered for the costs associated with any medical expenses you incur.
Again, you must read the plan’s terms to know what medical expenses are covered. Most comprehensive travel insurance plans only cover medical bills that are considered emergencies, like hospitalization, prescription drugs, x-rays, tests, outpatient expenses, and transport.
Some plans won’t cover injuries sustained from extreme sports or activities and injuries suffered while under the influence of drugs. So if you occasionally indulge in these activities, you will need to buy additional coverage or find a plan that includes it.
Your Credit Card Company Might Offer Travel Insurance
Travel insurance is often built into your credit card costs. So, before buying travel insurance, it’s worth getting in touch with your credit card company to find out if your card makes provisions for it. If your credit card has travel insurance, find out exactly what it covers to know if you need to buy additional cover.
To enjoy the travel benefits covered by your credit card, you must pay for your trip using your credit card. So, if your credit card covers flight delays, you must pay for your flight with your credit card.
