Article Written by Celia Santana, President & CEO Personal Risk Management Solutions
One of my clients planned a milestone birthday celebration in the Caribbean for his family. He called and asked if we could help him purchase travel insurance. The first question we asked was why. Why was he interested in purchasing travel insurance? In his case he was interested in purchasing coverage in the event someone became sick and the trip needed to be canceled. Another client planned to host a once in a lifetime family trip abroad. His “why” was because he was working on a business deal that would be closing around the time of the trip and he wanted to obtain a refund in the event the trip would need to be canceled. A third client was planning a safari to Africa and her “why” was to have a resource in the event someone on the trip is injured or became ill.
These are all good reasons to want a travel policy. The problem is that most travel insurance policies have a lot of fine print. The most important questions to ask your travel insurance provider are:
Is your “why” covered? If yes, then:
What proof is required to trigger the coverage? If acceptable to you, then:
How soon after making the first deposit does the coverage have to be purchased to be eligible for coverage? Last but not least,
Is there any automatic coverage you are eligible for, perhaps through the tour operator, travel agent or one of your credit cards?
Here are a few examples where our clients have needed travel coverage:
A client’s daughter was spending a semester abroad in Asia. She was concerned about her becoming ill while she was away.
A client was going to Europe for two weeks. She was concerned about the trip home being delayed in the event of a COVID quarantine.
A client was on holiday in Mexico. She stepped off a curb and broker her ankle. The nearest hospitals did not have an x-ray machine. She needed to fly home for proper treatment.
A client went abroad on a hiking trip to Asia. While there, there was civil unrest requiring immediate transport out of the area.
If you are planning a trip and thinking about travel insurance, the more questions you ask, the more likely you will have coverage for the scenario you are most concerned about.
We have partnered with travel insurance providers Global Rescue & Medjet. See below for more information or visit our Travel Insurance Product Page.