NOTHING WILL HAPPEN TO ME / I'M NOT PLANNING TO CANCEL. WHY DO I NEED INSURANCE?
Simply put, life is unpredictable. There are so many things that are outside of our control. Anything can happen. While we hope your vacation is free of any unforeseen events, we advise and recommend the purchase of travel insurance to all our guests. We have 3 REAL CLIENT stories that we share when someone asks about travel insurance:
Last year, a perfectly healthy client in his mid-30s had a freak collapsed lung while snorkeling. He unfortunately declined the insurance. The cost of the medical evac and treatment in Mexico ended up costing nearly $100,000 out of pocket.
Another destination wedding had a different issue. Unfortunately, the bride’s grandmother fell seriously ill and the couple ended up postponing their date. Guests holding insurance were able to get refunds, while guests without insurance lost their entire trip cost. Heartbreaking.
Recently, there was a fire at Grand Principe Tulum. Reservations for guests visiting the resort the following week required rebooking and resubmission. Fortunately, all last minute changes were covered by the guest’s insurance policy!
WHY SHOULD I BUY TRAVEL INSURANCE?
With more booking choices, more available destinations, and more people traveling than ever before, insurance is critical to protect your travel investment. Travel insurance can help provide coverage for unexpected travel problems, from a cancelled flight to a serious illness, inclement weather – or even an act of terrorism. Did you know? One in six Americans say their travel plans have been impacted by medical conditions, natural disasters including severe weather, or mechanical or carrier-caused problems, according to a recent survey by the U.S. Travel Insurance Association.
HOW MANY PEOPLE ACTUALLY BUY INSURANCE?
Recent studies show that as many as 148 million Americans a year have been insured against travel-related loss.
WHAT'S INCLUDED IN A TRAVEL INSURANCE PLAN?
“Per trip” plans provide a package of travel coverage to help for a variety of the most common problems travelers face. Some plans may include additional services, like a 24 hour concierge to help with anything from medical evacuations to dinner reservations.
WHAT IS CFAR?
CFAR stands for “Cancel for Any Reason” coverage. CFAR plans are great because they allow a traveler to cancel for ANY reason, not just a covered reason like medical.
WHAT CAN I EXPECT TO PAY FOR A TRAVEL PROTECTION PLAN?
Travel insurance plans are affordable and typically cost 4-8% of the total trip cost. By contrast, a medical evacuation can cost over $100,000. We think insurance is a smart investment to protect against these unpredictable situations.
I ALREADY HAVE INSURANCE THROUGH MY EMPLOYER. WON'T THAT COVER ME?
Not always. Check your current coverage carefully before you travel and see if you’ll be covered in the event of a travel emergency. Many people choose travel insurance policies to avoid possible deductibles they may have to pay. Also, keep in mind that you may encounter “out-of-network” medical expenses and that Medicare may not cover medical expenses incurred while abroad.
Additionally, health insurance through your employer does not cover Trip Cancellation, Trip Interruption, Trip Delay or Lost Baggage.
I ALREADY HAVE INSURANCE THROUGH MY CREDIT CARD. WON'T THIS COVER ME ON MY TRIP?
Credit card coverage offered by credit cards is typically limited and may not offer all of the coverage you need. Check your card member agreement to understand what is covered and what is not. For example, most credit card insurances do not cover:
No medical or evacuation coverage. For travelers going out of the US, this is a very important difference.
Trip cancellation coverage, trip interruption coverage and trip delay coverage may be limited and coverage amounts may be low. Check coverage amounts to see what is covered.
Credit card insurances do not offer waivers for the following: pre-existing medical conditions, adventure/hazardous activities, sports activities and equipment, security or political evacuations, missed connections, etc.
Credit card insurances do not offer Cancel For Any Reason (CFAR) coverage or Cancel for Work Reason coverage.
DO YOU HAVE INFORMATION ON A STANDARD TRAVEL INSURANCE PLAN?
Our Partners at Allianz Travel Insurance have provided a link to enable our guests to request a private quote.
Click the button below for more information.