In an ideal world, your dream vacation comes as planned and stays that way. Unfortunately, things don’t always go according to plan. If a natural disaster, terrorist attack, pandemic outbreak or another unforeseen circumstance disrupts your travel plans, you may find yourself in need of urgent financial assistance.
If you’re planning to travel internationally and aren’t sure if it’s safe to do so, you should consider purchasing affordable trip protection insurance with a trusted company like Travel Guard. As one of the most trusted names in the industry, Travel Guard stands behind all of their policies with a solid reputation for fast and accurate claims service.
Whether you are traveling on business or pleasure, let this article help you understand why trip protection insurance is critical before you book your next trip!
What is Travel Protection Insurance?
Travel protection insurance is a type of policy designed to protect you from travel-related events that may cause you financial hardship. This coverage type is typically offered in three types: trip cancellation insurance, trip interruption insurance, and medical evacuation insurance.
With trip cancellation insurance, it’s important to note that there are two different types: non-refundable and refundable. Non-refundable covers any costs associated with your trip being cancelled due to unexpected circumstances.
Refundable coverage allows you to obtain a refund for the cost of your trip if something unexpected happens. Unlike trip cancellation insurance, trip interruption insurance can cover a number of different issues that may arise.
Specifically, it covers the cost of you getting home in the event that something unexpected happens and prevents you from being able to complete your trip. Medical evacuation insurance is a type of coverage that can help you get home from an unexpected emergency.
This coverage can help you in a number of ways: transporting you home from the hospital, transporting a loved one home, or helping you get to the nearest medical facility.
The Benefits of Travel Protection Insurance
As mentioned above, there are a few different types of coverage that fall under the travel protection insurance umbrella. - Trip Cancellation Insurance: In the event of an unexpected circumstance, trip cancellation insurance can help you get your money back.
Trip Interruption Insurance: In the event of an unexpected circumstance, trip interruption insurance can help you get home. - Medical Evacuation Insurance: In the event of an unexpected circumstance, medical evacuation insurance can help you get home.
These are just a few examples of the types of coverage that fall under the travel protection insurance umbrella. There are many more benefits that come with this type of coverage.
When to Get Travel Protection Insurance
The best time to purchase travel protection insurance is before you book your trip. However, you want to make sure that you purchase coverage that best fits your specific needs.
There are a few questions you want to ask yourself before purchasing travel protection insurance: Where are you going? Who will be travelling with you? What is the purpose of your travel? Think about all of the scenarios that could arise that could disrupt your travel plans. Additionally, think about how you could handle the financial cost of these scenarios.
When You Shouldn’t Purchase Travel Protection Insurance
If you have a healthy savings account, and you’re not concerned about the potential disruption of your travel plans, you may not need travel protection insurance. However, if you have a limited amount of savings, you may want to consider purchasing travel protection insurance.
If you pay for all of your travel expenses, including airfare and hotel stays, with a credit card, you may want to consider purchasing travel protection insurance. While credit card companies provide trip cancellation and interruption coverage, it isn’t always enough to get you out of a sticky situation.
Additionally, if you’re travelling with a companion, you’ll likely want to purchase travel protection insurance. If something happens that prevents you from finishing your trip, your travel protection insurance can help give your companion enough time to get home.
How Much Does Travel Protection Insurance Cost?
The cost of travel protection insurance varies widely, depending on the type of coverage you purchase and the company that you use.
For example, if you decide to purchase trip cancellation and trip interruption coverage, you may pay slightly more than you would if you purchased trip cancellation coverage alone.
Generally, the longer the trip, the more coverage you’re going to pay for. Additionally, the more risks you’re willing to take, the more coverage you’re probably going to need.
Tips for Travelling Safely Despite a Lack of Insurance
If you decide to forgo travel protection insurance, there are a few things you can do to stay safe on your trip. First, you want to make sure you have travel-related documents in order, including travel visas and passports.
Next, you want to make sure you have travel-related items with you, including travel-sized toiletries and electronics. Finally, you want to make sure you have travel-related apps installed on your phone, including Google Maps, Uber or Lyft, and a translator app.
Keeping these tips in mind will ensure that you stay safe on your trip, even if you don’t purchase travel protection insurance.
Travel is a dream for many people, and it can be a truly enriching experience if you plan it carefully and properly. Unfortunately, even well-prepared travellers can be faced with unforeseen dangers while they are on the road, and they need to be prepared to deal with them.
If you are travelling to a foreign country, make sure to get a proper travel insurance coverage. This will protect you in case you run into any problems such as getting ill or injured, or having your plans change due to circumstances outside of your control such as weather, strikes, and civil unrest.
Travel insurance can be an invaluable financial safety net. The right coverage can protect you against a wide variety of potential travel problems, including illness, injury, damage to your possessions, inconvenience, and more.