Travel Insurance

Travel insurance is often overlooked, as it doesn't necessarily represent a tangible item you own. The concept of travel insurance was popularized in the United States in the late 1800's. The name of the first travel insurance business was 'The Traveler's Insurance Company' and the idea was to insure travelers against accidents and theft while on vacation. It has come a long way since then, with travel insurance covering almost everything, including: medical expenses, emergency evacuation (think those vacationing during natural disasters), the return trip of children, repatriation of bodily remains, trip cancellation or interruption, accidental death, injury or disablement benefit, overseas funeral expenses, delayed departure, loss, theft or damage to personal possessions and money (including travel documents), lost or delayed baggage (and emergency replacement of essential items), legal assistance, and personal liability and rental car damage excess, sports with high risks, travel to high risk countries (countries at war, natural disasters), and even kidnapping.

People often forget to take advantage of travel insurance, but it is becoming increasingly common. Prior to the terrorist attacks of 9/11, only ten percent of all Americans had travel insurance. After these events, the number has climbed past thirty percent. People are traveling more and more these days, for both business and pleasure, and the cost of travel has decreased considerably over the years. Almost everyone who has traveled extensively outside of their local community can tell you some tale of disaster from a trip gone wrong.

Travel insurance is continuing to cater more and more to traveler's needs. Many policies will even double as home insurance while you are away. Several reward credit cards will automatically offer travel insurance when you use your card to purchase airline tickets or items in foreign countries. If you decline car insurance in a foreign country, but rent the car with your credit card for example, your credit card insurer will often foot the repair bill. Call your credit card company and ask, you never know what they might cover.

Online discount travel sites will often offer cut-rate travel insurance policies. These are nowhere near as comprehensive as some policies you can find, but they will generally protect you from the unfortunate, but often common, pitfalls of traveling, both nationally and abroad.

As with any type of insurance policy, be sure to read the fine print. If you are looking for a particular aspect of travel insurance, make sure you confirm with the insurer that will in fact be covered. Ask them to email you confirmation of your question, or point it out to you in the fine print of your contract. Always be sure you have written confirmation. Before finalizing anything, look around at other options. Never take the first offer! The main items you want to look at include policy information, coverage value, eligible travelers, and any potential exclusions.

Buying travel insurance isn't rocket science, but spending a little time on research and doing your due diligence could save you thousands of dollars should something go wrong in your travels.