Your bags are packed, your tickets purchased, and your hotel reserved. You have done your research and have laid everything out so that this will be a vacation your family will never forget-then suddenly-something terrible happens that prevents your family from being able to go.
What happens to all the money you spent making your accommodations? It’s all “down the drain” unless you have purchased trip cancellation insurance.
There is a lot that goes into preparing for a vacation: deciding the right destination, choosing a hotel, finding a flight, renting a car, lining up attractions…but sadly, what often goes overlooked in vacation planning is insuring the vacation in case a situation arises that prevents being able to go on vacation.
Can you really afford to pay for that non-refundable plane ticket for the flight you never took? How about losing the deposit for that hotel you found? We insure our homes, automobiles, recreational vehicles, boats, etc. Why not insure our vacations or travel accommodations? Travel is not cheap, and with the amount of money we spend on making reservations, insuring that investment is prudent.
Thankfully, there are companies that specialize in visitors insurance that offer products which allow travelers to insure their trips for mere pennies on the dollar. Trip cancellation insurance provides coverage for certain (otherwise) non-refundable travel expenses in the event that a traveler must cancel their trip.
Here are a few things to think about when considering trip cancellation insurance:
What Type of Coverage Do I Want?
As with any industry, the visitors insurance industry is vast and diverse. Choose a plan that best fits your needs. Some companies reimburse you for specific items purchased, while others allow you to insure your trip for a certain amount. In addition, some plans cover other complications related to travel such as baggage loss or trip interruption/delay.
What Cancellation Situations Are Covered?
Trip cancellation insurance is supposed to be there for when you need it, yet, not all plans are created equal. Be sure to investigate and find out exactly what constitutes as a covered cancellation. Most commonly, plans account for sickness, death, inclement weather, and bankruptcy of travel providers, natural disasters, and terrorist activity, as well as many others. The important thing is that you know what is covered and what is not. Consider a company that provides the most complete coverage.
What company should I go with?
Obviously, choose a company that best suites your needs. Consider a company that specializes in visitors insurance, as they likely would be able to provide you with the best service, but also may have other products you may be interested in for your trip (visitors heath insurance, international travel insurance, etc). Most importantly, choose a company with a good reputation and a proven track record. Read online reviews and customer testimonials to help you make an informed decision.
Whether it be the vacation of a lifetime, a costly educational trip, or simply a personal jaunt, don’t risk losing your investment to an unforeseen circumstance.
For more information about visitors insurance and visitors health insurance, please visit us!