Whether you are stuck in a snowstorm on the road, marooned at the airport, or have unfortunately sprained your ankle before you embark on I-70 headed west, travel insurance can help remedy your holiday journey mishaps! Travel insurance can cover financial losses associated with traveling and be helpful both at home and abroad. It’s important to understand what’s covered and what’s not, along with any limitations on the fine print and your coverage requirements.

What is Travel Insurance?

Travel insurance helps to cover financial losses associated with unforeseen circumstances that could gravely affect any planned trip. Sudden illness, accidents, other types of injury, and transportation issues are all elements that could make you feel “not so merry” this holiday season. An average policy will cost about 4%-10% of the trip’s price. The premium you pay for coverage is based on your desired coverage type, your age, destination, trip’s cost, and other traits. 

How Travel Insurance Works:

Travel insurance can be found online via travel agents, travel suppliers such as the airlines and cruise lines themselves, private insurance entities, or insurance brokers that book particulars such as flights and accommodations. Some of the most common names in the industry are Berkshire Hathaway Travel Protection, Generali Global Assistance, GeoBlue, and Nationwide. In most instances, travel coverage is purchased just after initial booking for flights, lodging, and other transportation. Some policies mandate purchasing them at this immediate interval to retain full coverage. 

Primary and Secondary Coverage:

If you do find yourself needing travel insurance as the snow piles up and the fantastic lights of the season illuminate Missouri, you may find yourself with concurrent insurance coverage. When the travel coverage is primary, the insurance reimburses you first without any need to begin the claims process with another company. If the travel insurance is secondary, you’ll first need to attempt to file a claim with the involved entity such as the coach lines that lost your baggage before you handle business through these channels. 

Policy Coverage Limits:

This is the term for the maximum amount you can receive for the claim. You may only receive $300 per bag, and there could be a cap on pricier items such as laptops or jewelry. Receipts may need to be provided for items over a certain amount, and some types of coverage may require you to pay a deductible before they kick in and cover the remainder of your claim. 

Exclusions:

These are the conditions under which the coverage will refuse to help by covering your loss. Your baggage damage coverage may not cover losses that are caused by pests such as termites or a dog. It may exclude coverage of bicycles, hearing aids or other medical devices, keys and tickets, or an act of customs seizure. Many pre-existing conditions may not be covered by travel medical insurance, or there could be a time limit on the type of plan to ensure that your provider is not constantly paying out during near-blackout periods. 

Comprehensive Travel Insurance:

Comprehensive travel insurance includes many various types of coverage that are conveniently bundled into one plan. In most instances, comprehensive travel insurance will provide a 24-hour helpline to search for doctors or roadside assistance, reimburse you for canceled trips, interruptions and delays, and sudden baggage loss. If it is more convenient for your specific needs, you can opt to purchase each of these coverage types separately. This could benefit you if you already have some coverage with other insurance or are fortunate enough to be able to cover an unsuspected loss. 

Trip Cancellation or Interruption Coverage:

This type of insurance will reimburse a traveler for some or all prepaid travel expenses that are unconditionally nonrefundable. The trip cancellation portion will reimburse you for paid travel expenses If any pre approved reason ultimately holds you back. Travel delay insurance will reimburse you if you can’t travel due to a delay: this is becoming more commonplace with supply and staffing issues. Trip interruption reimburses you for travel costs if you must cut your trip short. Cancel for any reason (CFAR) insurance will reimburse you if any incident at all causes you to forfeit your holiday.

Damage and Baggage Losses Coverage:

There is nothing quite like stolen baggage or personal belongings to make a once-exciting holiday quite stressful. You will immediately have to shop for replacements, and it could be hard to find specific items depending on where you choose to have your holiday. Many types of travel insurance we’ll pay for your belongings only after you attempt to have every other party involved reimburse you. There are specific restrictions and inclusions, such as covering up to $500 per item and $250 for each additional item.

Many thrilled groups who are so excited to finally have a vacation are quite afraid of this predicament: it is imperative to attempt to receive reimbursement from the airline, and sometimes this takes a while. Protecting your baggage and personal effects can sometimes require an additional and rock-solid layer of segment-leading protection.

Rental Insurance:

Sometimes when your highly anticipated holiday is going as planned, a rambunctious party member (or even a pet!) can damage the property you are renting. Some available plans will offer trip cancellation and interruption to offer reimbursement if your rental is deemed uninhabitable. Here are some of the reasons this could occur:

• Lost or stolen keys
• Unsanitary conditions
• Rental did not appear as advertised
• The company “oversold” said rental

Rental car insurance will cover a rental car’s damage or loss during a trip and take precedence over the rental car company’s own collision damage waiver. These policies may vary and may cover collisions, theft, vandalism, and other incidents. One of the most important things to keep in mind about rental car insurance is that it will not cover your liability or legal responsibility for injury caused to others. 

Travel Health Insurance can assist with unexpected international medical and dental expenses, and with locating competent doctors if you are in a pinch abroad. Foreign travel medical coverage can range from a few days to a full year and covers events such as illness and injuries while traveling. Medical evacuation coverage will cover airlift travel and is a good idea for athletes, explorers of the wild, and those embarking on a journey to provide medical assistance themselves. 

Other Types of Travel Insurance Coverage:

Here are some other types of coverage that can aid you if the unexpected happens during your next holiday:

• Identity theft resolution services
• School activity coverage
• Wedding destination fulfillment
• Adventure & action sports coverage
• Cancellation for pet health
• Cancellation for hunting and fishing
• Missed flight connections

How to Get Travel Insurance:

Travel insurance poses extreme differences in price, exclusions, and coverage. Coverage is available for yearly, multiple, and single trips. The traveler simply provides information about who is going, the destination, cost, travel dates, and the date of first payment for the trip. The insurance company will review the information with underwriting guidelines, to come up with a reasonable policy and rate. If your application is accepted, you will be issued a policy that covers your upcoming trip. If your application is rejected, you are free to apply with a different insurer. You will get to review things for 10-15 days, where you can carefully look for any exclusions. 

“Shaking the Snow Globe” With a Worry-Free Journey:

Alexander Insurance Agency of St Charles is a very ideal partner for your travel insurance needs! Our comprehensive coverage ensures that you won’t have to worry about interruptions or cancellations, resulting in financial security. We have the experience to offer a seamless holiday travel experience, without anything hindering your memory-making of a lifetime. As the gifts are packed and the amazing sights and sounds of the season are waiting, opt for the Alexander Agency of St Charles for true “sleigh bell and sugarplum” confidence!