| Don't forget your vacation insurance before you | | | | trip does not exceed a certain number of days, |
| take off for any travel. | | | | usually 90 days. |
| I am very serious when it comes to insurance, I | | | | No declaration is required. |
| do not want to take any chances, I grew up in a | | | | For frequent flyers, this type of cover would be |
| family with my mother as a sole bread winner, | | | | most ideal in terms of cost and convenience. |
| my Dad passed away when I was 10 years old | | | | Family Vacation Insurance |
| without any insurance. Life was very very difficult | | | | Family packages are also designed to cater for |
| then. | | | | immediate families traveling together. Definition of |
| So the same goes with vacation insurance too! | | | | immediate families would mean you, your spouse |
| It can cost you an extra few thousands of dollars | | | | and your children. |
| if the cruise or tour operator goes bankrupt, or if | | | | Family vacation insurance are usually priced lower |
| you need to shorten your vacation due to | | | | premium than if individual insurance policies were |
| sickness or injury. | | | | to be taken up for the whole family. |
| Quick Tip | | | | Special Features ALERT! |
| The biggest myth would be that your normal | | | | Go for vacation insurance policies come with |
| health insurance covers you when you are away, | | | | higher deductible and this translates into lower |
| or that since many travelers visit an area or | | | | premium. |
| region, access to medical care is easy or | | | | The worst case scenario is you may end up |
| affordable. | | | | having to bear the first $40 or $50 of every |
| Here's a quick guide to understanding what a good | | | | claim that you make. |
| vacation insurance should cover for any travel. | | | | Deductible: (Also known as Excess in UK, NZ, AU) |
| 1. Travel Curtailment | | | | This is the amount that the insured must pay |
| If you or an immediate family member becomes | | | | before the vacation insurance starts paying for |
| seriously ill or is injured during the vacation most | | | | your claim. |
| vacation insurance companies would reimburse | | | | This may be an annual amount, an amount for |
| you for the unused portion of the vacation. | | | | the duration of the policy, or an amount for each |
| 2. Travel Cancellation | | | | incident. Choose the latter. |
| You would be reimbursed if the cruise line or tour | | | | For those of you who intend to engage in water |
| operator goes out of business. It would also | | | | or winter sports during your vacation, it would be |
| reimburse you if you have to cancel the vacation | | | | wise to take up your insurers who offer free |
| due to sickness, a death in the family or other | | | | coverage for such activities. |
| calamity listed in the insurance policy. | | | | Some traveler insurance companies may charge |
| Travel cancellation is very different from a | | | | an additional premium for this extension, so it is |
| Cancellation Waiver that many cruise and tour | | | | better to check this point before you effect your |
| operators offer. Waivers are relatively | | | | cover. |
| inexpensive. They provide coverage if you have | | | | Unfortunately, the definition of water sports in the |
| to cancel the trip, but they have many | | | | typical travel policy does not include scuba diving. |
| restrictions. | | | | Not surprisingly, bungee jumping is excluded from |
| They must be purchased when you book the trip | | | | most policies. Watch out for age limits imposed by |
| and will usually not cover you immediately before | | | | some traveler insurance companies, meaning that |
| departure. Most importantly, waiver is not | | | | persons exceeding a certain age are excluded |
| insurance. | | | | from their coverage. But if you belong to this |
| 2. Personal liability | | | | elderly group, fret not. |
| Personal Liability is important in case of legal | | | | There are traveler insurance companies that do |
| liability, arising out of one's negligence in causing a | | | | not impose any age limit and offer the same |
| third party injury (or death) and/or third party | | | | coverage at no additional premium loading. |
| property damage. | | | | A unique coverage that is being offered in the |
| Some traveler insurance companies even insure | | | | traveler insurance market is the "Car Rental |
| against the loss or theft of golfing equipment and | | | | Excess". This feature takes care of the excess |
| laptops. | | | | amount that the insured normally has to bear |
| 3. Luggage/Baggage/Flight Delay | | | | (under the motor policy taken up at car rental |
| This feature comes along with a "Time" excess, | | | | companies) in the event of damage to the rented |
| meaning that the traveler insurance companies | | | | vehicle while driving overseas. |
| only compensate when the delay exceeds a | | | | Price of Vacation Insurance also known as |
| certain time frame. The limit for loss of luggage | | | | Premium - Premium Computation |
| baggage/flight varies, usually with a cap for | | | | For "per-trip" policies, the premium payable hinges |
| individual items. | | | | considerably on the number of days of travel, the |
| 4. Emergency & Medical Assistance and | | | | country of destination and choice of plan. |
| Information Service | | | | For example, if you are from Europe, a vacation |
| Look for those 24-hour services that offer | | | | in USA warrants a much higher premium than a |
| information on visa requirements, foreign | | | | trip within Europe for the same number of days. |
| exchange, weather forecasts and medical advice | | | | Some traveler insurance companies provide the |
| et cetera. | | | | option of higher limits of coverage at of course, a |
| Emergency evacuation is very helpful indeed for | | | | higher premium. |
| inexperienced travelers or travelers with medical | | | | If price is of concern, it is advisable to keep on |
| conditions or for those who are traveling to more | | | | hand the premium schedule from a few traveler |
| remote and less traveled places. | | | | insurance companies for comparison before you |
| These service centers may also offer emergency | | | | activate your insurance before each trip. |
| assistance in the form of embassy, legal, | | | | Claim Procedure |
| interpreter and medical referrals. | | | | I consider this the most important aspect of |
| Most vacation insurance policies would | | | | buying a vacation insurance. |
| compensate a couple of hundred dollars for each | | | | All traveler insurance companies will require you to |
| day of hospitalization up to the maximum limit | | | | lodge your claims within a certain time frame. You |
| indicated in their respective packages. | | | | would be required to complete and submit a claim |
| This is solely to compensate the traveler for the | | | | form, which can be obtained from the traveler |
| number of days spent in a hospital overseas and | | | | insurance company. |
| should not be mistaken as hospital or medical | | | | In almost all instances, your claims must be |
| reimbursement, which takes care of the hospital | | | | accompanied by relevant documents, such as |
| and ward charges. | | | | medical receipts for medical reimbursement or |
| 4. Accidental Death insurance | | | | hospital cash; a police report for loss of money or |
| Personal accident coverage, which is to | | | | personal documents; an official letter from the |
| compensate the insured for permanent or | | | | airline in cases of flight or lugguage delay and loss |
| temporary disablement or death as a result of an | | | | of lugguage if within custody of the airline. |
| accident. | | | | In all cases, call up and inform your traveler |
| 2 Main Types of Vacation Insurance | | | | insurance company immediately for necessary |
| Annual Policy | | | | advice. |
| Most traveler insurance companies offer vacation | | | | There you are... now with a basic knowledge of |
| insurance on annual basis as well as per trip basis. | | | | vacation insurance, you are equipped to choose |
| Annual policies cover unlimited trips made by the | | | | the best suited to your travel needs and you are |
| insured during the entire year provided that each | | | | all set to fly! |