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Travel Insurance - Don't Go Abroad Without It |
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Your choice of a travel insurance policy is probably the mostimportant decision you will make in planning your holiday. Youwill enjoy peace of mind on your vacation knowing that anyunforeseen circumstances, such as a hospital stay due tosickness or accident will be taken care of.
In addition, while many travelers have health insurance, itsometimes does not cover them outside of their network oroutside of the United States. Most medical plans will not covermedical expenses abroad, which is why travel insurance coverageis vital to avoid financial disaster. Always check the detailsof your insurance coverage before you travel. Additionally, without the proper medical insurance, you will not have a say onwhere you will be treated if you were in an accident.
Generally, comprehensive travel insurance policy costs 5 to 7percent of the price of your trip. Your policy may also providereimbursement for lost luggage, some degree of medicalevacuation insurance, accidental death coverage, medicalexpenses, personal liability, cancellation, loss of baggage andtheft. Your policy should also include all the details of how tomake a claim.
Not all travel insurance plans are created equal. The costvaries from company and policy to policy. Policies may bepurchased for individual trips or as an annual policy for alltrips taken in the year of insurance. If you purchase an annualtravel insurance policy, it will cover you for one year from thestart date you choose. In some cases, it might be your bestoption to purchase a trip cancellation waiver and a third partytravel insurance policy.
Credit card companies usually provide what is called travelaccident insurance, which covers accidents but not incidents ofserious illness. When you travel abroad, you should alwaysconsider buying insurance that includes medical care.
If you are willing to assume a financial risk (the cost of yourtrip), you can probably forego insurance for your domestictravel. Since 9/11, many are looking to travel insurance tosafeguard their trip against any unforeseen terrorist attacks attheir destination. Traveling abroad without insurance can berisky and impose long-term financial hardships if an accident orillness occurred.
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