The FAQ’s on Travel Insurance
Uncategorized at February 23, 2016on
You finally decided on a destination, you found the perfect flights for the right price (with Fly Business For Less, of course! 🙂 ). All that’s left now is to buy travel insurance. Ugh! I don’t know about you but UGH goes through my mind every time I need to buy travel insurance.
We decided to dedicate this newsletter to all of you (or rather all of us) that associate the UGH! with travel insurance. We compiled a list of the most frequently asked questions related to travel insurance.
Before we delve into the Questions and Answers, keep in mind that there are sooo many different types of travel insurance coverage / policies – our answers are based on general policies. It is best to refer to each individual plan details for accuracy and specifics.
Q. How much does travel insurance cost?
A. Travel Insurance tends to be up to 5% – 10% of your trips prepaid non-refundable cost.
Q. What does Travel Insurance actually cover?
A. Travel Insurance covers unforeseen events such as:
** Keep in mind that some benefits will only pay once throughout your trip. For example, if your trip is delayed twice you will only be reimbursed once.
Q. What isn’t covered by Travel Insurance?
Q. How close to my date of travel can I purchase travel insurance?
A. Don’t wait till the last second! The earlier you purchase travel insurance the more chances you have of maximizing your benefits. If you wait to get it, you run the risk that something will happen before the policy takes effect.
To answer the question – most insurance companies allow purchase up to 24 hours prior to your travel time.
Q. If I purchase travel insurance now, will the plane tickets that I buy later for the same trip be covered?
A. Yes, you can cover your plane tickets you purchase at a later time. You can either estimate your total trip cost and insure that amount or you cover your expenses up to this point and increase the insurance coverage when you incur higher trip costs.
Q. Earlier we mentioned that if “your travel supplier unexpectedly ceases to operate” you will be covered. So, if my travel agent goes out of business, will I be covered? In other words, does my travel agent fall under the category of ‘supplier’?
A. No, the suppliers are the tour operator, cruise line or airline.
Q. What should I do if I get hurt or sick?
Q. Does my credit card, homeowner’s or my regular medical insurance policy cover me while I’m traveling?
A. You should always double check your policies before your travel because:
Q. What does ‘Trip Delay’ cover?
A. Trip Delay provides benefits to help you defray the cost of additional accommodation and traveling expenses that you might incur if your trip is delayed for a covered reason.
Trip delays benefits are shown as a dollar amount, but the benefits are paid as a daily maximum.
Trip Delays covered reasons may include: