When it comes to buying insurance, you always kind of hope that you never have to use it. Then when the day finally comes, and you need it, you can rest easily knowing the peace of mind in having insurance was worth the cost… or was it? We are going to take a look at the many facets of travel insurance and figure out if it is something travelers should shell out their hard earned money for.
What is Travel Insurance?
What travel insurance is insurance that is intended to cover medical expenses, financial default of travel suppliers, and other losses incurred while traveling, either within one’s own country, or internationally. This basically means that you can be financially covered if your trip needs to be cancelled for one reason or another, you’re injured, or some of your belongings are lost.
The policies and providers are all over the map. You may be able to purchase travel insurance through your travel company, homeowners insurance, credit cards, your own medical insurance provider and the list goes on. Then it comes down to picking a policy that fits your needs.
Is Travel Insurance Worth The Price?
As much as I hate this phrase, I have to say it: It depends. The Better Business Bureau has a helpful article that lays out three types of insurance policies that may be beneficial. That list includes travel cancellation/Interruption coverage, baggage loss, and emergency medical evacuation. Although these may be recommended, you may not need to purchase one or any of them.
So, let me explain…
If you want coverage, there are a few recommended companies such as CSA and Travel Guard, both with an A+ Better Business Bureau rating. To get a wide range of policies and be able to compare each of them in plain english, you may concider heading over to http://www.insuremytrip.com/.
As this is a timeshare blog, many of our readers own a timeshare. One company that is recommended by the Timeshare Users Group, or TUG, is VacationGuard. This company offers protection against loss of timeshare use for eligible reasons. The cost for annual coverage starts at $129 and includes reimbursement of maintenance fees and, if applicable, exchange fees up to the limits of the policy. Policies also include some trip delay, baggage, medical and other coverage.
A Final Word
So, if you are considering travel insurance, do your due diligence to read and understand any policy that you are purchasing and know exactly what you will be covered for and what exclusions are within the policy. Selling Timeshares, Inc. has no affiliation with any of the companies mentioned within. This article has been written with the purposes to inform readers about travel insurance policy within the scope of our own opinion.