Insurance For Your Travel Plans - FAQ
Got questions about travel insurance?
Travel Insurance
Taking a big (expensive) trip? Leaving the country? It's important to protect your travel investment using travel insurance that covers much more than the policies offered by travel agents, airlines, cruise companies or from tours.
There IS a better solution...
Visit our strategic partner who can provide competitive quotes on more comprehensive policies.
Insure Your Trip NOW!Corona Virus (COVID 19) Cancellation Coverage
Cancel for Any Reason coverage is the only coverage option available for new policies to cover coronavirus. To see only the plans that may have coverage for Coronavirus during the quote process, select "Cancel For Any Reason" when choosing coverage to display. This benefit is time-sensitive and has other eligibility requirements, so not all travelers will qualify. Please be sure to read the plan details carefully before purchasing.
FAQ's About Travel Plan Insurance
In many cases....you may not need to. If the loss of the money you spent on an airline ticket or hotel reservation don't impact your finances, then why bother? But there is some level for everyone, including millionaires, where it would be a "sting" to the pocketbook to lose out on airfare, cruise fees, hotel reservations, etc. because of a problem beyond your control. For those times, it makes sense to insure your trip.
It's also helpful to have such insurance in the event that you need medical evacuation or medical care in a trip location that your insurance doesn't cover...or the medical care is substandard or non-existent.
Travel insurance, just like any other insurances can be purchased from a variety of different companies. They can have difference coverages and ... yes, they will have different costs.
Travel Agents and Tour Companies often provide information for travel insurance when you purchase a trip, tour, cruise, etc. BEWARE of these offers, as they are often very expensive, policies. Often you can get far better and more tailored insurance coverage for your trip from shopping for the right policy for your needs. This site provides easy comparison shopping for you.
Note: You have to do your homework and compare policies. SOMETIMES the policies from tour operators may be a better deal for you, but many other times, you will be far better off in declining the tour operators travel insurance a purchasing your coverage from an independent agency that provides you with the best offers from a number of insurance companies.
Part of the benefit that you receive from WhiteCoat Risk Management is that we have a team of individuals in place that can help you pick the right insurance. We have selected a highly regarded online broker who specializes ONLY in travel insurance and has a wonderful system in place to help you (a) get the coverage you need and (b) shop for the best price.
Their experience in providing insurance for your travel plans is your benefit. In addition, they have a dedicated staff who can help you pick and purchase the right policy for your needs.
Our vetting of this affiliate helps you avoid the mistakes that can occur from a less qualified broker.
Yes. Travel insurance policies may have the greatest level of coverage differences. That's why it's ESSENTIAL, not just recommended that you read the policy...especially the coverage and exclusions. We shouldn't assume in life, but in this case you can make this assumption: If it's not in the "covered events (or similar)" description of the policy, it's probably not included in coverage.
Comparing policies online is easy using this great service. Give it a try!
All adults on the trip, and perhaps everyone.
Some policies include coverage for children traveling with their parents, but you should check the age of exclusion. If it is included, there will be a cutoff age, typically between 17 and 21. It is something that you should inquire about specifically when purchasing a policy.
Be sure to check your existing policies for coverage you may already have with your homeowners or health insurance policies. It's silly to spend money on coverage that won't provide any greater level of financial security for you.
The answer to this is dependent on the specific policy that you purchase. Just about every policy has different included ... and excluded ... events that are spelled out in the policy. That's why is essential that you carefully read the policy you are about to buy to make sure that the events that you want covered are included in the policy.
If you look at policies that are offered some simply have too many restrictive conditions to make the policy useful. For that reason, it is essential that you read and understand the benefits and the exclusions that are contained within the policy.
The first thing to do is to check with your health plan to see if you are covered where your vacation or trip will take you. This is especially important if you are leaving the United States. Some policies, (especially Medicare plans) don't cover for events outside of the US and in those cases, supplemental insurance is necessary for coverage.
It's also important to check on coverage for medical evacuation. This too is very important if you are visiting areas with poor medical care. This gives you financial protection for the (hopefully unlikely) event that you need to be transported back to the US for medical care.
While we all like to get a bit "wild" on vacation, if you are relying on travel insurance medical and evacuation plans to get you out of a bind when you are doing extreme activities (mountain climbing, scuba diving, skydiving, etc.) make sure there are no exclusions that would void your coverage for these events.
For "accidental death", you would likely be covered under any existing life insurance policy you have in place, so it's usually redundant and unnecessary, but may be included or a low cost addition.
Your existing homeowners or renters insurance may cover loss of your luggage. Airlines typically also have payments for luggage that they have lost. However sometimes it's not the value of the luggage or contents, but the impact on your trip. For that reason, look at this element of any plan to see if it provides coverage to fit your needs.
Last, some credit cards have lost luggage benefits, so check what coverage you may already have.
Regardless of coverage, it may be more important to understand the responsiveness of the insurer and how quickly they can help get you back up and enjoying your trip.
There are a number of things to consider when purchasing a policy.
- How high of a limit should I purchase for a medical insurance policy?
- Pre-existing conditions. Be sure that if you have any, you qualify for insurance based on the terms of the policy
- Weather issues. Look at the specific inclusions and exclusions regarding weather conditions and the ability to file a claim.
- Job demands. If it's a possibility, look at the level of coverage in the event that you need to call off a trip because of serious job related developments.
- Coverage of children. Some policies cover children up to a certain age. Make sure you know what that is to determine if your kids qualify under your plan.
- "Cancel for any reason". This is available on some policies, typically as an additional rider. This may be very useful in providing coverages for very unusual or rare events.
- Support. Be sure the plan you are using has 24/7 support. You don't get to choose when a problem will arise, so make sure there is help available at all times.
Here is a link to a government site that can help provide information on travel outside of the United States. (WCRM is not responsible for the contents of that site.)
NOTE: The insurance described herein is for travel plan protection. It is NOT intended to represent or describe offerings by Travelers Insurance Company. However quotes provided through our strategic partnership may include policy quotes from that company.
This plan provides insurance coverage that only applies during the covered trip. You may have coverage from other sources that provides you with similar benefits but may be subject to different restrictions depending upon your other coverages. You may wish to compare the terms of this policy with your existing life, health, home, and automobile insurance policies. If you have any questions about your current coverage, call your insurer or insurance agent or broker.
