Spring has Sprung & Travel Season is Spring has Sprung & Travel Season is Upon
Us! Upon Us! Get in the KNOW before you GO! Get in the KNOW before you
GO!
You ask, do I really need to buy travel insurance and is it worth it? The answer
is YES. Many people traveling abroad for vacation, family visits or business
trips debate this question. There are many prevalent myths about travel
insurance including that it is a waste of money and that they don’t believe they
need it. Though not mandatory, travel insurance can save you from losing your
money due to non refundable prepaid costs. There are many different types of
travel insurance available and it is critical to understand them so that you can
make the right choice. Please consider the following types of insurance plans
when you are planning your next vacation.
TRIP CANCELLATION: Trip cancellation is the main component of a travel insurance
package. It reimburses you for the prepaid, nonrefundable costs of your trip, if
you have to cancel for a covered reason. The coverage begins the day after the
purchase and continues until you cancel or depart on your trip.
TRIP INTERRUPTION: Trip interruption covers you if something unforeseen happens
once you are on your trip. For example, if you need to return home due to the
death of a close relative, it will help pay the extra costs incurred to the cost
of an additional airline ticket would be covered.
EMERGENCY MEDICAL: Emergency Medical pays the expenses should you get sick or
injured while on your trip. It’s important to note that your regular health
insurance may not cover you out of the country or you could be subject to
limited coverage’s or higher out of pocket expenses.
EMERGENCY MEDICAL EVACUATION: Emergency Medical Evacuation will transport you to
the nearest medical facility, if you are sick or get injured while on your trip.
Once you receive care and are able to travel it will transport you home and may
even pay the cost under the “Repatriation” benefit.
REPATRIATION OF REMAINS: Repatriation of remains pays to send your remains home,
God forbid, you should pass away while on your trip. Now that makes for a bad
vacation!
BAGGAGE: Baggage coverage varies by policy. Some policies cover lost checked and
baggage delay. Some will reimburse you for the value of the items that were lost
up to the stated value.
ACCIDENTAL DEATH & DISMEMBERMENT: Accidental death and dismemberment covers you
in the event that you passed away in an accident or lost one or two limbs in an
accident.
OTHER: Other benefits can include coverage for travel delay, emergency cash
transfer, assistance services, concierge services, ID theft protection, rental
car coverage and flight accident insurance.
COSTS: An example: A 10-day trip to the United Kingdom for 2 people, aged 60,
with total cost of trip $8,000. A standard travel Insurance plan will cost $482
or $656 for a deluxe plan. This cost is for both travelers and must be purchased
within 20 days of initial trip deposit. Not a lot of money for peace of mind and
a worry free vacation! Call us for more information.
Have a planned vacation coming up? Go to www.oweninsurancegroup.net and click on
the products and services tab, then click on “Travel Insurance”. You can obtain
a “No Cost” quote to see just how affordable travel insurance really is!
