travel insurance

There is a difference between trip cancellation and travel protection insurance. The former is sometimes offered by your credit card company or airline. These policies provide limited coverage with a few specifically covered reasons, including the death or injury of one of the travelers or a weather-related event.

Travel protection insurance, on the other hand, is much more comprehensive and covers additional cancellation reasons. These other scenarios include death or illness of a family member not traveling, accident/sickness medical expenses, company layoff, baggage delay or theft protection, emergency evacuation, and repatriation of remains if death occurs while in the U.S. or overseas.

Pre-existing conditions are also covered based on the policy – if the insurance is paid within 15 days of the trip deposit. Recently, we had a client who was undergoing radiation and chemotherapy treatments. She was cleared for travel by her doctor one month prior to her bucket list Alaska land tour and cruise. If she had been unable to travel, she and her immediate family would have received a full refund for her airfare, cruise, tour and hotel costs.

A few years ago, a client’s college-aged son traveled to the Bahamas for his spring break. Unfortunately, he injured his neck diving into shallow water. A medivac helicopter was needed to transport him to a trauma center hospital in Miami. The cost of this emergency medical evacuation was over $300,000. Luckily, his travel protection policy had $500,000 in coverage for his transportation. Today, I’m happy to report that he was not seriously injured, and he and his fiancé are immersed in their wedding plans.

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For even further protection, a Cancel-For-Any-Reason insurance rider can be added to your policy; the pricing varies based on the policy. It is the most flexible policy and you’ll be reimbursed for between 75 to 100% of your trip cost depending on your coverage. There are a few reputable and reliable travel insurance companies that we recommend: Travel Guard, Allianz, and CSA.

The insurance premiums generally cost between 5 to 15% of the trip and is based on the total cost, age of the traveler and level of coverage. Your vacation cost is a large investment that you saved for and it needs to be protected from unforeseen circumstances.

We highly recommend travel protection for all our clients, regardless of the trip cost. You will enjoy peace of mind on your stress-free journeys and experiences around the globe.

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