With the holiday’s right around the corner, a lot of people are beginning to make their travel plans for upcoming vacations. While you are busy planning, your BBB is always looking for ways that you can stay protected. There is one thing we can never plan on, no matter how much we try. Mother Nature. Be it a snowstorm, tornado, hurricane, wild fire, even a delayed connecting flight. We never know how or when our travel plans will be derailed, costing you money out of your own pocket. Luckily, there is a safety net for these exact situations, travel insurance.
Travel Insurance is a great way to protect you and your family while traveling to your destination. Most policies have benefits paid on everything from medical expenses while traveling, reimbursing you if a death causes you to miss a flight, even covering for lost baggage. According to Susan Ladika of Fox News, the US department of Transportation cancelled 6.5% of scheduled domestic flights in January of 2014 and 5.5% of flights in February of 2014. With airlines becoming more likely to cancel flights while facing ominous weather or situations, travel insurance has become the way for consumers to recoup any losses incurred while flying. You can read Susan’s article on travel insurance here.
Just like every other form of insurance, there are scam travel policies out there. According to travelinsurance.org, there are several ways to ensure that the policy you are buying will actually protect you, your loved ones, and your assets.
-The first thing to look for is the name used to describe the policy. A travel protection plan is NOT the same thing as a travel insurance policy. There is actually a huge difference. Travel insurance is a legal document that corresponds with the insurance regulations in your state. You are exchanging money for the promise that they take care of anything covered by the policy. On the other hand, a company can call anything a protection plan. There are no laws that govern these, so odds are you may have just paid for a plan that is worthless.
-Make sure to always read the fine print. Travel insurance is meant to cover you if you are to run into trouble while on your trip. Everything from medical expenses to legal assistance is usually covered under your policy. So before you go cliff diving in Mexico, make sure you are covered under your policy.
-Be sure to read up on the claims process for the company you are buying the policy from. More reputable companies will have a detailed description of the claims process. Some policies will avoid instructing on how to make a claim, while fake policies will avoid giving a customer service number all together. So, before you purchase make sure you investigate exactly what the policy is when it comes to claims.
-The biggest red flag is if the policy claims to supersede your homeowner’s policy when it comes to protecting your personal property. Unless they are your personal insurance company, how does the travel company or travel insurance agent know what is covered by your homeowner’s policy?
With some of the busiest travel months right around the corner, more and more people are turning to travel insurance to help protect themselves. The BBB recommends that you consult your personal insurance company or agent before purchasing any insurance policy. Just make sure that you are covered before taking that next flight to visit family or to soak up the sun in the Caribbean.
For more information you can trust, visit bbb.org/evansville.