Karl Susman explains the basics of the California FAIR Plan Association to Debbie Bremner.
With airlines regularly going out of business, the cost of vacations and out of country medical care skyrocketing, you just have to consider getting travel insurance. It can cover anything from an airline or cruise line that goes out of business, the loss of your personal belongings, or a medical emergency in a faraway place like Bali.
Read the four reasons why you need travel insurance; ask yourself whether you should obtain travel insurance from the travel vendors themselves. Get travel tips to help you avoid serious difficulties during your overseas travel, and more.
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Four Reasons Why You Need Travel Insurance
This would reimburse you if the airline or tour operator goes out of business. It would also provide coverage if you have to cancel the trip due to sickness, a death in the family or another calamity listed in the policy.
In addition, if you or an immediate family member becomes seriously ill or is injured during the trip most policies would reimburse you for the unused portion of the vacation.
Baggage Insurance/Personal Effects
This would provide coverage if your personal belongings are lost, stolen or damaged during the trip.
To insure $1,000 worth of personal belongings for a week, it would cost roughly $50 per year.
Before purchasing this type of coverage, find out how much insurance the airline or trip operator provides for your belongings.
Emergency Medical Assistance
This provides insurance and medical assistance for travelers. It would cover you if you had to be airlifted off a mountain due to a skiing or hiking accident, or if you had to stay for a prolonged period of time in a foreign hospital. It would also provide coverage if you got seriously sick or were injured and needed to be flown home.
My Airline Offers Travel Insurance – Why Should I Buy it From You?
Many travel vendors (tour companies and cruise lines) offer their own protection plans and these plans may provide very different coverage than offered through third party insurance companies. In most cases, supplier-provided coverage won’t cover you in the event they go bankrupt. When considering a supplier protection plan, you should carefully compare the coverage with third-party travel insurance products.
How much does travel insurance cost?
The cost of travel insurance varies from company and policy to policy. The more you have invested in your trip, the more you need to protect it. Travel insurance covers you for losses caused by trip cancellation and interruption, medical expenses, baggage, trip and baggage delay. When you consider all the protection you get, travel insurance is actually a great value.
Who should buy travel insurance?
Travelers who want to protect their travel investment should consider purchasing travel insurance. If an illness, accident or sudden change in plans forces you to cancel or interrupt travel plans, you face two major financial losses – money you’ve invested in nonrefundable prepayments, and medical expenses that aren’t covered by your health insurance
A Safe Trip Abroad
When you travel abroad, the odds are in your favor that you will have a safe and incident-free trip. Travelers are, however, sometimes victimized by crime and violence, or experience unexpected difficulties. No one is better able to tell you this than the U.S. consular officers who work in more than 250 U.S. embassies and consulates around the globe. Every day of the year, U.S. embassies and consulates receive calls from American citizens in distress.
Happily, most problems can be solved over the telephone or by a visit to the Consular Section of the nearest U.S. embassy or consulate. There are other occasions, however, when U.S. consular officers are called upon to help U.S. citizens who are in foreign hospitals or prisons, or to assist the families of U.S. citizens who have passed away overseas.
We have prepared the following travel tips to help you avoid serious difficulties during your overseas travel. We wish you a safe and wonderful journey
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