Hurricanes, natural disasters, accidents, illnesses, airline strikes or bankruptcies are just a few items that can wreck havoc on people’s vacation plans and trip investments. “There are as many options for travel insurance as there are scenarios – from life-threatening, to simply annoying – that can arise unexpectedly when people travel,” Squaremouth.com CEO Chris Harvey explains. So how can consumers be sure they’ve found the right policy for them?
In attempt to provide some clarity to travel insurance questions, Squaremouth.com, a leading travel insurance comparison site, released today its comprehensive set of answers to customers’ most pressing questions including a few that follow:
What are the main kinds of travel insurance?
Medical policies cover illness, accidents and emergency evacuation. They may be sold separately, or wrapped into so-called “comprehensive” packages. At a minimum, comprehensive packages consist of “trip cancellation” and “trip delay” protection in circumstances ranging from poor weather or airport delays, to deficient aircraft; “trip interruption” benefits for vacations cut short because of a family emergency; and usually some baggage coverage.
Should I buy a medical evacuation’ plan in addition to standard trip insurance?
A medical evacuation plan is designed to return the consumer home quickly after they’ve been hospitalized in a foreign country. This insurance typically doesn’t cover medical treatment they may need before the evacuation. Most standard travel insurance covers evacuations as well, but the insurance company and local physician are the ones deciding whether to bring them home; Medical evacuation plans, in contrast, allow travelers more control over that decision. Squaremouth considers standard plans’ evacuation coverage to be excellent, so unless the buyers want more control over the decision to evacuate there’s no need to buy additional medical evacuation cover.
Can I buy travel insurance without a trip cancellation’ benefit?
Yes, a traveler can choose a plan that excludes cancellation coverage but still offers a full range of benefits, including coverage for trip delay, a medical emergency, medical evacuation, lost or delayed baggage, etc. Some plans allow the customer to enter a $0 trip cost, which will provide all the benefits of a comprehensive plan excluding trip cancellation and trip interruption. Another option to consider is a Post Departure Plan, which offers all comprehensive benefits including trip interruption, but excludes trip cancellation coverage.
Is there a money back guarantee?
Money back guarantees let travelers decide if the travel insurance policy they purchased is right for them. Their guarantee, called a “free look period,” in industry lingo, can last for up to 15 days depending on the insurance company, although it may expire sooner if they make a claim or reach your departure date before the period has ended. Most companies will refund the full amount minus an administrative fee of around $6 to $8 per policy.
When’s the best time to buy?
The best time to buy travel insurance is usually within 14 to 21 days of putting down the initial deposit on a trip. It means travelers’ typically qualify for coverage of any pre-existing medical conditions – though a few carriers provide such coverage up to the day before their last payment. If they need a “cancel for any reason” benefit, they will be required to buy this within 14 days of their deposit. But if a customer does not need either of these types of benefit, or they are buying medical coverage only, there’s no deadline to meet: travelers can buy insurance up until the day they leave.
Can I buy insurance to cover less than the cost of my trip?
Some plans require a traveler to insure the full pre-paid, non-refundable cost of a trip to be eligible for certain benefits, such as for pre-existing conditions. Others allow them to insure an amount less than your trip cost; however, any claim would be limited to the amount they have insured.
Can I insure trips paid for using frequent flier miles?
Frequent flier miles aren’t covered by travel insurance. If a consumer cancels a trip, they will only be reimbursed the money they actually lost. However, some policies will reimburse the cost of an airline-imposed change or reissue fee, if their trip was canceled by their travel supplier; plus fees to re-bank frequent flier miles up to the amount they entered as their trip cost.
Can I cancel for any reason and get my money back?
Standard trip cancellation insurance refunds the pre-paid, non-refundable costs of canceling a trip for one of the reasons covered by a customer’s policy, which generally are: sudden medical emergencies; airline, cruise line or tour operator bankruptcy; severe weather; terrorist attacks; or jury duty. A traveler can add Cancel for any reason’ insurance as an option on many policies to help refund much of the value of a trip. This policy must be purchased within 14 days of putting down the initial deposit on a trip, and the traveler has to insure the trip’s full value. And to be able to make a claim, the customer must cancel a trip at least two days prior to their intended departure.
The ease of Squaremouth’s presentation of available travel insurance products aids in helping eliminate some of the confusion when seeing which options exist. Squaremouth displays policies in a format that allows for side-by-side comparison, similar to some airline ticketing sites such as Orbitz or CheapTickets.com.
It is easy for Squaremouth customers to sort policies by price, benefit or carrier, and instantly buy their choice of coverage.
Still have questions? Don’t worry, Squaremouth’s team of licensed insurance experts is available to answer any questions via phone or email. Visit http://www.squaremouth.com/pages/travel-insurance-advice.php. To read up on this industry’s lingo, visit the Travel Insurance Glossary beachside reading).