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Do You Know What Your Travel Insurance Covers?

By: Joeera Pascual

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Due to the many unforeseen events recently; disease outbreaks, terrorism, environmental disasters, more people are buying travelers insurance. But, there's something else . . . Generally this type of insurance coverage will not protect you if you cancel a vacation out of outright fear.

If you are stressed out about terror attacks or hidden explosives, these things are probably not covered in your policy. The hurricane that just happened 1000 miles from where you are going is probably not going to be an allowed reason either. Purchasing traveler's insurance might not be effective for any of the above occurences.

The point of getting travel insurance is to be covered for specific parts of a trip that usually don't offer reimbursement in case a problem arises. For example, a typical qualified expenditure would be plane fare. It only applies to those situations where a policy holder HAS to cancel or delay a trip, or in the event the insured gets stranded it will help cover extra costs.

Travelers insurance will cover, however, your medical expenses should it occur overseas. This can be crucial since there are times when your insurance may not cover overseas medical care. However, most policies are loaded with loopholes related to what is not covered.

Many disasters that may cause a person to purchase travel insurance are not covered. A lot of programs don't cover terrorist acts at all. Consumers who are fearful need to choose their travel destinations more carefully.

Even if travel insurance is found and it doesn't exclude terroristic acts, there could be a provision that it will cover the insured only if there has been a bombing or act of terrorism in the travel area within a month. If you are concerned about going to Paris, or even Manchester in England because of a bombing in London, your travel insurance coverage will not pay. The concepts of fear or trepidation are not provided for in an insurance policy.

Right now it is that fear that's increasing the travel insurance sales. But fears are the only thing that the majority of policies won't cover. Not only that, but your terrorism coverage, if you have it, could be deemed not qualified because you waited too long to buy the policy after scheduling your vacation.

Recently, many companies reimbursed travelers for incidental expenses incurred in London in the aftermath of a 2006 terrorist plot, when a scheme to detonate a bomb on a commercial airline flight was thwarted. However, companies would not reimburse if you attempted to cancel, because no actual attack took place.

The cost of travel insurance depends largely on how expensive your trip is and how much you want covered. You can get comprehensive policies that reimburse for various cancellations, any delays that leave you stranded, the loss of luggage, plane accidents, emergency medical situations, and evacuations for medical purposes. You can pick and choose which specific types of insurance that you would like.

Though not common some policies can be purchased that include a "cancel for any reason" clause. If you purchase this type of coverage, your policy will reimburse you 74 percent of the cost of your trip, should you decide not to go. This is 40 percent more than the coverage you would get from a standard insurance policy.

170000 travellers protection insurance policies are bought by consumers yearly in the US. Since the terror attacks of Sept. 11, 2001, the yearly sales of travel insurance have practically doubled. With the occurrence of disease outbreaks and environmental disasters, sales are expected to continue to rise.

You should also remember that in serious catastrophes that affect a lot of people, travel agencies will generally waive restrictions and fees on re-booking. Many times you can get relief for your foiled travel plans without the benefit of insurance.

Article Source: http://depositarticles.com/

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