Should You Purchase Insurance This Year?November 2007
According to data recently released by the Better Business Bureau, last year alone consumers spent 1.3 billion on
travel insurance covering more than 67 million people - a 20% increase since 2004. And as millions of Americans plan their holiday vacations to visit families or simply escape cold weather, holiday travel insurance becomes more and more important.
So when do you need vacation coverage? Travel insurance will do the most good when purchasing a vacation package or flying long distances and overseas when weather and other unforeseeable problems can ruin an entire trip.
There are also ramifications to consider when booking an adventurous or active trip. If you're an adventurer and want to go swimming with sharks or sky diving, it used to be you couldn't get medical care or evacuation coverage as part of your travel insurance policy. Now that comes standard. And, with skiing occupying the most popular holiday vacation, holiday travel insurance can certainly come in handy when someone gets injured on the slopes and needs immediate care.
Facts on:
Holiday Travel Insurance
Did you know...
Last year alone consumers spent 1.3 billion on travel insurance covering more than 67 million people.
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And then there are the logistical problems that always haunt holiday travelers. Trip Cancellation Coverage (TCI) will cover you if your plans suddenly change and you have to cancel or end your trip early. Just remember that it will only reimburse you for reasons on the insurer's acceptable list such as hurricanes and other inclement weather, injury, sickness, or death. Finally, no holiday travel insurance plan can be complete without baggage loss insurance. Baggage loss insurance reimburses you for lost, stolen or damaged bags. You can even get coverage for costs incurred if your bags are delayed en route.
And with millions of Americans planning to vacation this year by plane, train and automobile, it would be wise to pay a little in more in advance and be ready for any of the many mishaps that could come your way.
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