Peak Time for Summer Vacations – Do I need Travel Insurance?
Studies have shown that August is the most popular month for vacations especially among the 45-65 year old set. So if you are about to head off for that long awaited summer blast, you may be wondering if you need to think about travel insurance.
Travel insurance is a broad term. When most people think about travel insurance they are usually thinking about insurance to cover unexpected cancellation of their trip. This can be due to anything from illness, or injury, to missed flights, acts of war, nature, you name it. Travel insurance also is purchased to cover more mundane and more common occurrences such as lost luggage. However there is another aspect of travel insurance that many fail to think about; health insurance.
For the most part if you have health insurance and you are traveling domestically, your health insurance travels with you, especially if you are part of a large nationwide network group. However the same cannot always be said about traveling internationally. And in fact the worst time to discover that you are not covered is in the event that you are injured or develop an illness overseas. The costs to be treated in foreign hospitals can be very high. The costs for medical evacuation from foreign soil back home can be extraordinary. If you are traveling overseas, especially if you intend to participate in some high-risk activities, check with your health insurance provider for the limitations on your health insurance while out of the country. If your policy is like that of most people, you will discover that you may not have the coverage you think you do. Purchasing travel insurance would be a good idea.
So how do I look for travel insurance? Well many online insurance brokers who specialize in all forms of low-cost health insurance offer short term and travel insurance policies. You can get a free quote on various packages of travel insurance to fit your needs on this website. Financial advisors also suggest you check with your credit card company if have used your card to book your trip. Several credit card companies offer varying degrees of travel insurance as a benefit of membership.
Travel professionals and insurance professionals alike remind us that even the best travel insurance policy is rarely 100% coverage. Even if you have spent a few hundred dollars on Travel Insurance, and your trip is struck by disaster and you are stranded, have lost your luggage or trip cancelled entirely you may be reimbursed only up to 75%. Still for piece of mind, travel insurance is a worthwhile investment. In the unforeseen event of serious illness or injury while traveling it can literally be a lifesaver.