Should You Purchase Travel Insurance?

Whether you’re heading to the Australian Outback to backpack in the bush or planning a romantic Parisian schedule of croissants and leisure, consider purchasing travel insurance. At the very least, you’ll learn more about your current policies and what they include – and you may discover that electing travel insurance is extremely necessary. Here’s how to decide:

  • Don’t “double dip” – If you’re already covered through an existing policy for calamities that can occur during travel, electing travel insurance is like adding a raincoat to your existing one; it’s not vital. However, it often takes only a quick investigation to spot holes in protection. Your medical provider might offer some in-network options overseas, yes – but they may not cover emergency medivacs, which can amount to hundreds of thousands of dollars. Your credit card may reimburse for medical and baggage events – or perhaps not at all.
  • Don’t assume your current medical insurance is going to be enough – For those headed abroad, it’s often necessary to pre-pay for treatment. This can amount to thousands of dollars. Please note that those who are covered under Medicare almost definitely need travel coverage: Medicare does not usually cover overseas treatment.
  • Examine the intricacy of the trip – How might a flight delay affect the rest of your itinerary? If the answer is extremely, travel insurance is a must. Imagine for a moment that one plane flight is delayed throughout your journey – and this affects not just the time you spend in an airport, but the tour you’ve planned for the next day and the premium event you pre-booked. The right travel insurance can’t give you back those experiences – but it can reimburse you for the loss of them.
  • Partner with an insurance advisor who can tailor-make the plan for you – Wade through policy language if you’d like – or simply call your trusted insurance advisor with specific questions. They should be able to address the tough concerns and will save you time that you can spend packing for your upcoming adventure. This leads us to an obvious consideration that is nonetheless often overlooked:
  • Purchase the right type of travel insurance – Just selecting a policy blindly and hoping it covers any unforeseen travel impediments is not advisable. For example, there are plenty of cruise insurance products available to consumers, but not all of them are worth the price – or really cover all that much. With travel policies (as with existing policies) read the fine print.
  • Consider a yearlong policy if you travel frequently – Sure, you can insure trip-by-trip. Those who rarely travel distances further than 100 miles may find the best value with such policies. If you frequently travel for business or pleasure, a product like Chubb’s innovative Passport 360 may make more sense. Passport 360 offers customization (after all, your needs for that rustic Australian Outback trip differ from the Parisian one) but it consistently covers every single trip taken throughout that year. For those who always seem to be jetting from one locale to another, this is a huge benefit.

The advisors at W3 insurance pride themselves on selecting the right travel insurance for each client. Call 800.783.5085 today and ask about travel insurance! Travel safe and travel well: W3 makes sure you travel with peace of mind.