You spend most of the year saving for this vacation. Why not make sure you are covered if something unexpected happens. Don't let all your money and dreams disappear. Here is what travel protection insurance will do for you.
Travel protection insurance will shield consumers from specific financial hardships due to various perils they may encounter while traveling. Travel insurance can address everything from lost luggage to legal troubles arising from a car accident in a foreign country. It is very important to know when this type of coverage is necessary, and how much is needed for you trip.
Your homeowners' insurance may cover some expensive belongings that are lost during travel, including jewelry, camcorders and laptops. As of 2011, according to the Better Business Bureau, airlines provide financial coverage of up to $2,500 for baggage that is lost or destroyed in transit. Travelers should also check with their insurance carriers to find out what their existing policies cover before shopping for travel-protection insurance.
What if you are considering an international vacation, should you still gett travel insurance?Consumers who travel abroad face a number of potential problems, including cruises canceled by the cruise line, unexpected health issues, bad weather, delays, lost baggage and sometimes even the need for immediate medical attention. However, these perils can also occur during domestic trips and when homeowners' insurance does not cover them, travel insurance does.
You should assess the risks associated with any given trip. If the trip entails a cheap coach-class flight for under $100, travel insurance is unnecessary due to the low amount of money at risk in the case of a canceled flight. However, if the trip involves a two-week cruise, a canceled trip can cost thousands of dollars and quickly becomes worth the additional expense of a trip-cancellation policy. Any flight may justify travel insurance for baggage protection when vacationers are carrying expensive laptops or cameras valued at over $2,500. Rental-car liability coverage is also recommended for people who intend to drive while traveling abroad.
You should first contact your homeowners' insurance company to see if your policy covers any relevant potential problems. This will determine what additional coverage is needed, which may be provided by your insurer at a discount. Next in priority should be a travel-insurance company, which will generally offer the most comprehensive coverage. Credit card companies may also offer travel insurance, especially for reservations that are paid for by their credit card.
It's a vacation! Make sure you are covered!
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