Thursday, January 10, 2008

Travel Insurance? In my opinion, yes!

Was it an old Amex commercial? Don’t leave home without it?

And, in my opinion, this most definitely applies to travel insurance, also sometimes called trip cancellation insurance.

If you are traveling internationally, particularly if it is an expensive and/or adventure trip, purchasing travel insurance is a worthwhile investment. Just imagine if you had to be medically transported out of the Andes, or Antartica, or the middle of Siberia.

Or, as in our case, you find yourself trying to check in for your international flight, at JFK, and learn there's a problem with your reservation. And then, upon calling your tour company, find out that the tour company overbooked, bumped you from the cruise and CANCELLED your booking!!!

In most cases, basic cancellation/interruption policy will take care of this, including covering things like baggage loss/delay, trip cancellation for illness or death, trip delay, emergency medical care and evacuation.

More complex (and, therefore, more expensive) plans are also available that will cover trip cancellation for any reason along with 24 hour assistance availability. Some plans, if purchased within a specific time frame of depositing your trip, will also cover you for trip cancellation due to pre-existing conditions.

Travel insurance plans, like all insurance plans, are priced based upon the level of coverage. Some plans also price dependent upon age.

An excellent resource for checking out prices and comparing policies is InsureMyTrip.com. They have plans from 18 different insurers that you can compare on just the one site. It is also an excellent resource tool with lots of travel tips. (And, FYI, no, I do not receive any type of compensation from them. )