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If you are booking a trip, you may be asked if you'd like to buy travel insurance. There are times when such insurance can really come in handy—and there are times when it may not. This page will show you the ins and outs of how to purchase travel insurance.
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If you are booking a trip, you may be asked if you'd like to buy travel insurance. There are times when such insurance can really come in handy—and there are times when it may not. This page will show you the ins and outs of how to purchase travel insurance.
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Introduction
- The travel insurance business has become a booming industry in recent years. In the wake of natural disasters and terror attacks, more people than ever before are opting to purchase travel insurance for their vacations. According to the U.S. Travel Insurance Association, about 30 percent of Americans purchase travel insurance.
Step 1: Why Purchase Travel Insurance?
- If you are setting off on a dream vacation, you want everything to be perfect. But what will you do if the unexpected happens? Travel insurance can offer financial reimbursement if the unexpected happens. Travel insurance may cover:
- Trip delays
- Trip cancellations
- Lost or stolen bags
- Medical emergencies
Step 2: Do Your Research
- A little bit of research can go a long way toward deciding on the right travel insurance. You should determine exactly what kind of insurance you will need. Do you want all-encompassing insurance that covers every single possible problem that may arise? What exactly will the travel insurance cover? This is the time to ask questions.
- Does the travel insurance include protection through all phases of the trip, including sightseeing and excursions?
- If you consider medical travel insurance, determine if preexisting conditions are covered.
- If your bags are lost, how long will it take for you to get them back?
- How much will the insurance cost?
- According to the U.S. Travel Insurance Association, travel insurance runs between 4 and 8% of the total cost of the trip.
