Travel Risk Protection

insurance medical insurance travel travel insurance vacation Jun 04, 2019

What Could Possibly Happen? This Is A Vacation....

Earthquake or Hurricane at your destination
You or someone in your party gets seriously ill...before the trip
You get injured or seriously ill on your trip
You are happily retired and on Medicare. Are you covered outside of the country?
You need emergency evacuation for medical reasons
Something else happens on your trip or before your trip

Visit our Travel Insurance FAQ page here....

Are You Covered?

Simple answer...Maybe.

Yes, it's the "gotcha" of the fine print. And it is extremely important that you have the coverage written into the policy that you have purchased for your trip. If it's not specifically covered, it's probably not.

It's essential that you read the policy over very carefully when purchasing insurance for your trip. The levels and types of coverage are not standardized and vary considerably from policy to policy. That's often why there is such a big difference in premiums from different companies for the same trip. Differences in coverage.

When reviewing trip cancellation and related policies, it is very important to read the various sections of the contract you are agreeing to.

What are the specific items which are covered by the policy?
What are the listed exclusions?
What dollar limits are in place?
What other benefits are there? How do I contact them for help?
What "options" do I have in selecting the right level of coverage?
Other questions...

Is Travel Insurance Worth It?

It all depends. For some people who can lose a $1000 plane ticket without an issue, then it's probably not worth it. For others where that would be a significant hit on their vacation budget, it may well be worth it. How about a big vacation to someplace exotic where you have committed $20,000 or more (there are high end extended cruises or even private jet around-the-world trips that approach or exceed $100,000 per person). For even millionaires, insurance is worth it for those trips.

What About Medical Issues?

To know if you need temporary out-of-country medical insurance, it is probably best to contact your current medical insurance company to determine if you are covered where you are going. Most Medicare plans don't cover much, if any, needs outside of the country. If you have a supplemental Medicare plan, it may provide coverage, but don't GUESS if it does, you have to make sure. The last thing you want is to assume that you have coverage, then find out that you don't when you absolutely need it.

Although it's up to you, it may be best to err on the side of having temporary medical coverage from a third party on such trips. If you get sick or injured, you want to be able to concentrate fully on getting proper treatment, not having to figure out if you are covered by your normal at-home insurance plan, or if that plan includes medical transportation.

Medical evacuation is a worthwhile benefit in the event of a medical issue, especially if the location you will be does not have medical care that is equal to that available here in the United States. That type of evacuation can be extraordinarily expensive, but it may be the difference between survival ... and death after a serious injury or illness.

Cancel For Any Reason Policies

Some insurers provide benefits for more qualifying incidents. Such policies often are more expensive than other more limited policies, and often only cover a portion of the trip cost (i.e. 75%), but because of the more inclusive qualifying events, these may be a far better option for many circumstances. Be sure to compare these with more limited plans before making a decision on the coverage to purchase. This is really a personal decision, and may not be available for all trips or circumstances.

Visit our Travel Insurance FAQ page here...

WhiteCoat Risk Management Travel Coverage

We have created a strategic relationship with an excellent provider of travel insurance products, InsureMyTrip.com. This online service can provide you access to this type of insurance 24/7/365 and from the comfort of your home or office.

Visit Insure My Trip

Benefits of using InsureMyTrip

We have had a great experience with their services. Trip insurance is the only thing they do!
It's easy to use in the privacy of your own home or office
They have policies from dozens of different companies, allowing you to select the policy with the right coverage, and the right price for your specific needs
(BTW...I use this service too!)

Group Plans For Travel

Sometimes you have a group of people traveling. Maybe your family. Maybe a group of people from your business. It's important to remember that travel insurance must be purchased per person. But if you have a group of 5 or more individuals who need insurance, there may be additional discounts available to you through your relationship with WhiteCoat Risk Management. Contact InsureMyTrip by phone and mention you are affiliated with WhiteCoat Risk Management and see what discounts may apply for your group.

Credit Card Coverage

Some credit cards provide travel insurance as part of their benefits. If that is the case with your card, be sure that you read the extent and limits on coverage. It may be a great and valuable perk for those times when the cost of your trip, travel, and lodging is less than their policy limits. It's also important to understand if those limits are a lifetime, annual or per-trip, and any notification requirements they may have.

Visit our Travel Insurance FAQ page here...

It's important that you consider the options, ... and financial risks ... that you take when booking an expensive vacation. You protect many other financial risks in your lives, so why not do the same for the special, and expensive trips that you book. Why risk the addition of financial loss to the existing disappointment that you will experience if there is some event that prevents you from taking that well-deserved trip.