Friday, August 22, 2014

Travel Question - Do I need trip insurance?

It's funny - pretty much everybody thinks I am a travel agent. I'm not but it's cool.  Consequently, I get asked for a lot of travel advice. One subject about which I am often asked is trip insurance.  Like anything else travel related, purchasing trip insurance is a very personal thing.   Some people don't need it but feel a lot better having it.  Others legitimately need it for any number of reasons.  Some people never get it & never need it.

Whenever people come to me, I ask them the following questions:

1. Do you need it for any outstanding reason, i.e. a medical condition where you have a better than average possibility of needing medical attention on the road?
(Yes, I recommend it)

2. Are you going somewhere where there are legitimately no medical services within a reasonable drive, i.e. if you get hurt or sick, will you need to be airlifted to the nearest facility?
(Yes, I recommend it)

3. Are you spending a large amount of money on this trip, i.e. if you were to cancel/ not be able to go & not a get a refund, would it a be a problem?
(Yes, I recommend it)

4. Are you taking a "milestone/celebration" trip, i.e honeymoon or another type of trip that has a major emotional investment in addition to the major financial one?
(Yes, I recommend it)

5. Are you going somewhere where the medical facilities are on par with what you're used to having but you wouldn't have enough money to deal with unexpected medical expenses, extended stays, & any other related additional expenses?
(Yes, I recommend it)

6. Does your health insurance only cover you in the United States?
(Yes, I recommend it)

7. Did you pay for your trip with cash or does your credit card not have a travel insurance clause?
(Yes, I recommend it)

The only time I don't recommend getting it is when your health insurance covers you overseas and/or you have a credit card or other insurance policy that covers travel incidents at no additional cost.

If you need travel insurance, I recommend using Insure My Trip.

Not all policies cover what you need or want.  Many basic policies don't cover weather delays - if you're traveling in the winter, that might be something for which you want to pay extra.  Pay close attention to the details - # of days, countries, actual covered items - and what documentation you will need to file a claim. I've known a few people who needed emergency health care but never got documentation to file a claim. That can be a real hassle (and expensive) to pull together you're not in that country anymore.

Also, I recommend contacting your credit card company; your bank; AAA;  the insurance company that holds your rental/homeowner policies; or other financial service company with which you have an account. Some of your existing accounts may include travel insurance as a benefit.  You could already have travel insurance & not know it.  In the end, you may be fully covered or you may need to just buy a cheaper, supplemental policy.

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