A Little TIDBID About “Travel Insurance”
This Article On Travel Insurance Was Written By Billy Stravidis
So, here we are again, another summer season around the corner and you’re contemplating your next summer vacation with the family or perhaps simply a romantic get –way,with just you and your significant other. You can’t decide whether to put down money for a tour, a cruise or simply another big vacation. Well, here are a couple of things to think about in today’s world of travel concerns. The world is an ever changing place, some for the better and some not so, with terrorism on the rise and the “Zika-virus” in the headlines, you might wonder (What If I decide afterward not to go, can I get my money back?) Well, have you ever considered travel insurance? Like most of us probably not but perhaps now is a good time to consider it and include travel insurance as part of your trip/vacation.
Kinds Of Travel Insurance Policies
Whether and what kind of polices to buy depend on your individual needs and situation. Most travel insurance policies offer trip cancellation/interruption insurance, which can reimburse you for non-refundable prepaid travel expenses if you cancel or interrupt your trip. Most also offer medical and medical evacuation coverage, which can reimburse you for emergency expenses if you get sick or injured on your trip. (Your domestic health insurance probably won’t cover you abroad). But does it apply to today’s concerns?
After last fall’s attack in Paris, folks who had planned trips there didn’t want to go and people were able to cancel their trips. You typically can do so if there is a terrorist event at your destination within 30 days of your arrival date.
Pregnant women understandably fear traveling to places where the mosquito-borne “Zika-virus” has been reported. Let’s say you became pregnant after you bought your policy, the pregnancy can be a covered reason to cancel your trip in most cases.
The Cost Of Travel Insurance
The cost of travel insurance can range between 5 and 8 percent of your trip cost and is available through your travel agent or directly from a provider. Just keep in mind that policies come with exclusions and exceptions, many of which can be remedied by buying early.
To secure some time sensitive benefits, such as a waiver for a pre-existing medical condition, you typically need to purchase travel insurance within 14 days of making your initial trip payment and is always recommended buying insurance at the time you book your trip.
What if you just changed your mind? Some carriers offer (cancel-for-any- reason) policies, but they can cost as much as 20 percent more of your trip cost. If you’re the type that travels frequently, perhaps you should consider an annual travel policy, which covers you for however many trips you take in a year, domestically and internationally. Like automobile, home and health insurance do your due diligence and check around with different insurance companies which can easily be done online to see which policy best fits your travel needs.
Happy and safe travels to all.
The Author Of Travel Insurance: Billy Stravidis
Billy Stravidis is the author of Travel Insurance and a professional real estate investor. Billy Stravidis is also a senior writer for Gustan Cho Asscoiates and is also a senior moderator for www.lendingnetwork.org . Billy is also an expert in all areas of renting out investment properties. Billy recently purchase a condominium in Panama, Florida and has a rather difficult financing due to being a condotel. Most banks do not lend on non-warrantable and condotel loans because they are not able to sell the loans they originate to the secondary market.