Life is unpredictable.  There are many things that our outside our control.  Here are a couple recent instances for clients that needed trip insurance (for cancellation) and thank goodness they had it.

• One of the clients tested positive for Covid 2 days prior to leaving on their vacation.  They were in full penalty and had to cancel the trip.  There trip was over $10k and luckily they had trip insurance.  They provided all of the required documentation to the insurance company and were able to get a full refund.
• A client was booked to be traveling on a girls getaway weekend. She broke her foot one month prior to travel and was unable to travel because she had to have surgery and the surgeon stated she couldn’t travel.  The other two still wanted to travel; but she had to submit for a full claim and was able to again provide the necessary required documents to the insurance company and her trip was fully reimbursed

With more booking choices, more available destinations, and more people traveling than ever before, insurance is critical to protect your travel investment. Travel insurance can help provide coverage for unexpected travel problems, from a cancelled flight to a serious illness, inclement weather – or even an act of terrorism.

Did you know? One in six Americans say their travel plans have been impacted by medical conditions, natural disasters including severe weather, or mechanical or carrier-caused problems, according to a recent survey by the U.S. Travel Insurance Association.

Each insurance company offers a little bit of different coverages.  I typically send a couple options to make sure to find one that best suits your budget and needs.  

CFAR stands for “Cancel for Any Reason” coverage. CFAR plans are great because they allow a traveler to cancel for ANY reason, not just a covered reason like medical.  If you are looking for this type of coverage please let me know as NOT all plans include this coverage.

Travel Insurance Plans are affordable and typically cost 4 – 8% of the total trip cost.  For contrast, a medical evacuation can cost over $100,000.  I think travel insurance is a very smart investment to protect against unpredictable situations.  

Not always.  Check your current coverage carefully before you travel & see if you’ll be covered in the event of a travel emergency.  Many people choose travel insurance policies to avoid possible deductibles they may have to pay.  Also, keep in mind that you may encounter “out-of-network” medical expenses and that Medicare may not cover medical expenses incurred while abroad.

Additionally, health insurance through your employer does not cover Trip Cancellation, Trip Interruption, Trip Delay or Lost Baggage.

Credit card coverage offered by credit cards is typically limited and may not offer all of the coverage you need. Check your card member agreement to understand what is covered and what is not.  For example, most credit card insurances do not cover:

• No medical or evacuation coverage. For travelers going out of the US, this is a very important difference.
• Trip cancellation coverage, trip interruption coverage and trip delay coverage may be limited and coverage amounts may be low.  Check coverage amounts to see what is covered.
• Credit card insurances do not offer waivers for the following: pre-existing medical conditions, adventure/hazardous activities, sports activities and equipment, security or political evacuations, missed connections, etc.

Credit card insurances do not offer Cancel For Any Reason (CFAR) coverage or Cancel for Work Reason coverage.