If you have been keeping up with the news over the past few months then you know that the travel industry has been booming! Since the number of vaccinated people has gone up it’s resulted in an influx of people travelers. However, we are not out of the woods just yet. Now more than ever it is important to have the necessary travel insurance coverage for your trip in the event that any delays or cancellations occur and to protect yourself as you enter different regions of the US and other countries!
Here’s a rundown of what you might see in an insurance policy and what you might want to have added.
1. Medical coverage
If you are an American citizen and plan to travel within the States then your normal medical insurance will be enough to cover you for any health issues you might face. However, the borders of the US are where normal health insurance coverage ends. Fortunately, that is what travel medical insurance is for and maybe a real lifesaver for when you travel to another country.
Be sure you have this included in your policy as the majority of countries do require you have medical coverage before entering their borders.
2. Car Rental Coverage
The last you want to happen is end up stranded in your hotel in Italy, so what do you do? You rent a car, but it’s not that simple. What if you get into an accident? Your usual car insurance, like your medical, won’t follow you overseas.
Pay attention to this one because the collision damage waiver you get from a rental company or that comes with your travel credit card only covers the repairs for your rental and not the other persons’ car, you are still liable to pay that yourself. Be sure you add the option for liability insurance within your travel car insurance policy as it covers physical damage to the car and medical expenses of the other party involved in a potential accident.
3. Canceling a trip
I’m sure you can think of a million reasons why your trip could be canceled. Be it a health issue, a big project at work, a family emergency, or bad weather. This is where trip cancellation coverage comes in. It can cover you for pre-paid, non-refundable mentioned above, and more. Be sure to review the specifics of the policy you’re considering.
As a quick tip having a travel credit card can allow you to even upgrade your accommodations help cover unforeseen expenses! If you have a card, remember to check in with your credit card company to learn what you can do to rack up as many points as possible. This is a great incentive when trying to build good credit if you think about buying a house one day as well.
While some people may see travel insurance as a needless waste of money, but when traveling puts you in a situation where many things can go wrong one saying comes to mind, “it’s better to have it and not need it than need it and not have it”. We all buy insurance hoping we never have to use it and, if all goes well, in retrospect it may look like we never needed it at all. However, it is better to be safe than sorry.
Be sure to check out this article from Money.com who provides even more information on this subject.
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