When You Should Buy Trip Cancelation Insurance

Plans change. Luggage goes missing. These are unfortunate, but real truths when it comes to traveling abroad – especially overseas.

Trip Cancelation Insurance

When booking a vacation with a travel agent, or even through a website, they will often times ask you if you would like to add trip insurance to the cost of your trip, but whether it is due to lack of information or an increase in price, many people choose not to buy trip cancelation insurance.

Medical insurance for travel outside of the United States is essential and most people know that and will do the necessary research and invest in the right travel medical insurance plan, but the same cannot always be said for trip cancellation insurance.

What is covered by trip cancelation insurance?

Trip cancelation insurance, also known as interruption coverage, will reimburse otherwise non-refundable travel costs such as airline tickets or hotel reservations. Trip cancelation insurance comes into effect when you or a family member has a dire medical situation and has to suddenly return home, or if a member of your immediate family back home becomes terminally ill or dies.

Оформление страхового полиса для поездки в Европу

Trip cancelation insurance will also cover you if you have a canceled flight, lost luggage, a missed connection, or in the event of a terrorist attack or if there is a sudden government issued advisory that a country is unsafe and you need to be evacuated.

In essence, trip cancelation insurance protects the money you have invested in a vacation – making sure you get any money owed to you when a trip is suddenly canceled or interrupted. It also offers peace of mind when it comes to medical emergencies or world issues.

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Why do many people forgo trip cancelation insurance?

Some people consider trip cancelation insurance a waste of money if everything goes smoothly with the trip, which most times it does. But if you have saved for a long time for a trip of a lifetime and that money is considered non-refundable, or if you have loved ones back home who are elderly and may need you at the drop of a hat, or if you just like to be prepared in case of an emergency (medical or otherwise) then it is money well spent. Investing in trip cancelation insurance is money spent to protect your trip investment! And the further ahead you book your trip, the more important it is to protect your investment (a lot can happen in the weeks or months between booking a trip and departing for it).

It is important to know that once you have departed for a trip you cannot purchase trip cancelation insurance. And while it is possible to purchase coverage right up until the start of your trip, there are insurance companies who require a policy be purchased within seven days of paying for the trip or no later than 48 hours in advance of trip departure.

Trip cancelation insurance is best purchased at the same time as your trip or as close to the purchasing time as possible. If you buy coverage at the last minute and then have to make a claim, you risk the chance that the insurance company will closely scrutinize your case.

Trip cancelation insurance is designed to protect you against the worst-case scenarios associated with overseas travel. When offered this kind of insurance when paying for a trip, don’t think of it as spending more money, think of it as protecting the money you have already spent.

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