Do You Really Need Travel Insurance Coverage?

There are several questions to ask yourself when trying to determine whether to buy travel insurance or deciding what type of insurance you'll need:

  • Will you be traveling overseas?
  • Are you planning to participate in extreme sports?
  • Can you afford the cost of the trip back home if an emergency arises and you need to get back?
  • If you or someone who is traveling with you gets sick, will you be able to afford medical care?
These are all potential problems that can turn your dream vacation into a nightmare if you aren't prepared. When deciding whether to purchase a policy, go through as many scenarios as you can.
  • Get familiar with the cancellation policies of hotels, tourism cruise lines and other travel service providers.
  • Review existing policies and agreements with credit card companies. In some cases, credit card companies already cover issues, such as lost luggage or car rental liability.
  • Become familiar with price schedules, terms, conditions and exclusions of the insurance you choose. (For advice on keeping your money safe while traveling, read Travel Tips For Keeping You And Your Money Safe.)
Conclusion
The fine print is the backbone of your contract and it will be what determines what type of coverage you will have when you need it most. When you have the right insurance in place to cover you on your trip, you can ensure that your dream vacation turns out to be all you had planned and more.
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