The purpose of the article is provide awareness of Vacation Insurance, its basics, when does it make sense and where to start. It is timely as individuals are looking to go on vacation this summer. It was of interest to me after watch a TV show called “On The Money”.
Travel Insurance Basics
- Trip Cancellation & Interruption
- Medical Expenses
- Medical Evacuation
- Travel Delay
- Baggage Delay- What can be done?
When does it make sense?
- Expensive Vacations
- It depends on what you believe is expensive or how much would like to protect. If your vacation cost $5K or more, you may want to consider vacation insurance.
- The cost is some where between 5% to 7% or about $245.00
- Traveling to another country
- Travelers on Medicare
- There is no medical coverage outside of the US for those on Medicare
Money Spent Elsewhere (Overlapping Coverage)
You may have insurance already that covers some of the items above. Please check with your service provider.
- Homeowners Insurance
- Auto Insurance
- Life and/or Health Insurance
- Umbrella Insurance
Where to Start (Places to find out more information or where to purchase)