What is travel insurance?

20160713_060913If you have been saving up for a big family vacation to the Emerald Coast, you may have some concerns about losing big time is an unforeseen circumstance causes you to cancel or cut short your travel plans. Hurricanes in particular are a big worry for many Destin vacation rental guests, as Florida has been known to get hammered by several storms in a season from time to time. In record-breaking 2004, for example, Hurricanes Charley, Frances, Ivan, and Jeanne made landfall in a span of 44 days. The storms left paths of devastation that affected not only the local communities but the tourists who would normally come vacation at the landfall sites as well.
It can be so disappointing to look forward to a trip for months or even years, only to find yourself too sick to travel or stranded far from your destination due to cancelled flights. You stand to lose money in pre-payments that are likely nonrefundable, and depending on the situation, you may have costly medical bills to pay out that may not be covered by your usual health insurance plan.
Experienced travelers who have been through such nightmares would likely advise you to invest in travel insurance so you can have some peace of mind.
Travel insurance plans can vary widely, accommodating a wide range of budgets and types of trips, whether you have a modest getaway planned or a lengthy, luxury stay scheduled. You can get policies for last-minute trips, and there is coverage for practically any kind of travel, such as cruises, golf destinations, student travel, and sports trips. Your vacation plans can be within the United States or International.
Before you rush out in fear and buy a policy, however, make sure you investigate your options.
First things first. And that’s find out what kind of coverage you already have, especially in the medical domain. For example, if you are in another country and fall while mountain climbing and have to be air-lifted down to a local hospital, will that be covered under your current policy? As your insurance company what the limitations of the policy are concerning geography and specific incidents. Your homeowners’ or renters’ policy might cover theft of your belongings even while you are away. You just have to check.
Airlines these days almost always have to compensate you for lost or stolen luggage but again, do your homework.
If what you find out comes up short and leaves you feeling like you want more protection, by all means consider buying travel insurance.
When you are looking for a policy, ask which disasters are covered. Find out what restrictions there are. Ask how the reimbursement gets determined. Also you need to know how hands-on and helpful the insurance company will be in the event of a medical problem.
One option is to buy a floater for your current homeowners’ or renters’ policy. If, for example, you are taking along expensive electronics, jewelry, or sporting gear, this might be the way to go.

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