Did you know over 27 million people took cruises in 2019?
Vacations are a necessity every once in a while, whether you’re indulging on a cruise or backpacking across Europe. And, of course, they’re best enjoyed when you don’t have to worry about your safety or belongings.
Many experienced travelers invest in vacation insurance to prevent any worry. But what exactly does vacation insurance cover? And is it all that beneficial?
We’re here to fill you in! Keep reading below to learn about the benefits of vacation and travel insurance and what your plan may not cover.
Benefits of Travel and Vacation Insurance
Vacations should be fun and relaxing. You shouldn’t be thinking about stress from work or an unused timeshare—though you can learn how to successfully cancel a timeshare. You also shouldn’t be worrying about how you’ll cover expenses should an accident occur.
Travel and vacation insurance will give you peace of mind as you explore the world. If anxiety is one of the things keeping you from traveling, travel insurance can give you the safety net you’re looking for.
Along with alleviating anxiety, vacation insurance can save you money should you have to cancel. Without travel insurance, any nonrefundable deposits for things like a cruise or lodging will be completely lost.
This can be a major setback if an emergency arises before your trip, such as becoming ill or a family crisis. However, many travel insurance plans will reimburse you for non-refundable costs.
You also won’t have to throw away hundreds of dollars if you have a medical emergency overseas. This is very important in countries where medical costs are high, especially if you don’t have local insurance.
Many travel plans will cover you if your baggage gets lost or stolen. It’s good to know that you won’t lose both your belongings and the money you spent on them.
What Travel and Vacation Insurance Doesn’t Cover
While vacation insurance can be a worthwhile investment, you should know that it doesn’t cover as much as traditional insurance plans.
For example, many plans offer emergency medical coverage, as mentioned above. However, they may not cover the entire expense. Read plans carefully, as many don’t even cover dental emergencies.
You should also know that travel insurance often won’t cover medical expenses if the visit is due to a pre-existing condition. It’s wise to read up on what a plan considers pre-existing. Some consider anything before a year prior as pre-existing, while others will consider a diagnosis as recent as one month before as pre-existing.
Weather can be a tricky situation as well. A travel plan often covers major weather issues that delay your flight or cruise, but they won’t reimburse you for a tour canceled due to rain. They also won’t provide coverage due to natural disasters unless you purchased the insurance before the identification of the natural disaster.
They also won’t reimburse you for unexpected lodgings. It’s expected that you are careful and mindful when choosing your accommodations, so most travel insurers see no need to cover it.
Preparing for Your Trip
Vacation insurance is recommended by most veteran travelers, especially if you’re unsure of the certainty of your trip. It’s important to know what your plan does and doesn’t cover though, so be sure to read plans carefully before making your choice.
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