- Travel and Places
Is Holiday Insurance Right for You?
How many ways can a trip get cancelled? Maybe at the least minute, the day before going on holiday someone gets sick. This unfortunate experience may only cost you a few hundred dollars, maybe a few thousand at the most.
But there is another element to consider while on holiday. What if you get sick or injured? What if something happens to disrupt your trip? Maybe a family member or friend gets very ill at home and you need to make an emergency trip back? Lost luggage?
Is it wise to choose holiday insurance prior to your journey and, if so, what is the best to choose?
We will examine the various forms of holiday insurance and when a good time would be to consider insuring your getaway from the unexpected and what to expect from holiday insurance.
DID YOU KNOW...
- You can purchase Holiday Insurance for as little as $1.60/day
- Hospital stays in the United States can reach $25,000/day
- Medical repatriation can cost well into the hundreds-of-thousands
- Policies often cover iPhones, video cameras and other technological devices
- At what point does my policy take affect?
Usually you will have instant coverage in regards to cancellation. The remainder of the policy will take affect at the start date of your Certificate of Insurance
- Am I covered if the government issues a 'Do Not Travel' about a country I'm about to travel to?
Usually you will not be covered if you travel to a country or a part of a country in which the government advises against.
- What if I am injured in the event of a terrorist attack?
Depending on the circumstances you may be covered for medical expenses and evacuation, if necessary. This will depend on the terms of the policy.
- What about Catastrophe Coverage?
Not all policies will cover these 'Acts of God' - earthquakes, volcanoes and other natural disasters. There Iceland-based volcano eruption in 2010 which produced a major ash cloud disrupted and cancelled many flights in Europe. Many found that their Holiday Insurance did not cover these events. Check your policy and ask your agent.
- Can I change my dates of travel?
Sure. Most policies will accommodate a travel change date as long as the trip has yet to start.
- What if I have a pre-existing medical coverage? How does that work in regards to medical coverage?
Most policies will cover unintended incidents however if you have a pre-existing condition then some policies will not cover if you fall ill because of those pre-existing conditions.
- So, which company should I choose and how do I know they are reputable?
There are many insurance companies that offer Holiday Insurance. With a little research you can find the right policy that is right for you.
*Answers provided are not guaranteed with all policies. These are general "standard" answers and may vary between policies and companies. Please verify the conditions of your policy with the company you choose to buy insurance through*
FIVE CLAUSES IN YOUR INSURANCE POLICY TO BE AWARE OF:
1) You will need receipts
2) Drinking can affect claims
3) Extreme Sports may require extra coverage
4) Police reports in a timely manner may be required
5) Cancellation in the event of a death
Check out the video for a more in-depth explanation
Would you consider purchasing Holiday Insurance?