Does
travel insurance make sense? By David
Florian • Bankrate.com Purchasing travel insurance
is a wise move, but carefully read the fine print before you buy a policy. Travel
insurance is specialty insurance, largely offered through other types of insurance
plans like homeowner's, auto and medical policies. It's also offered by your credit
card company when you charge your ticket. Typically,
travel insurance covers trip cancellation, trip interruption, accidental death
or dismemberment, medical and dental coverage, transportation to adequate medical
facilities, loss of luggage or personal possessions, and protection against the
default or bankruptcy by the airline. Personal liability coverage for damages,
legal defense, return of physical remains, bad weather and many other contingencies
is also available. Consider the following
issues when purchasing this coverage: -
There
is no such thing as double coverage, so don't waste your money on multiple policies. Your
travel agent is usually not a licensed insurance agent; you may want to call the
insurance company yourself to discuss your plan. - Ask
lots of questions about the fine print. Some policies do not cover cancellation
due to the illness of anyone other than the ticket holder, or do not offer coverage
in the event of terrorism, hijacking, undeclared war, or in countries where there
is a risk of war. Also, the policy may provide medical evacuation only to the
nearest medical facility, not to a facility near your home.
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