In light of the COVID-19 pandemic, the travel industry experienced a rush of cancellations and interruptions. Now more than ever, the importance of purchasing travel insurance has been made apparent. To make it easier for students to understand, we broke down the basics into an ultimate travel insurance 101 guide! You’ll learn what insurance is, why it benefits you, and how to purchase it. At the end of the day, it is always better to be safe than sorry!
Table of Contents
What Is Travel Insurance:
Travel insurance policies cover a variety of circumstances that might affect travel. We’ve broken them down into the most common categories.
Cancellations and Interruptions
Travel insurance helps recover some, if not all, costs during cancellations. You or your travel agent need to be absolutely clear about what your policy covers because these are two distinctly different occurrences. Cancellations mean your trip was not able to happen due to health emergencies, natural disasters, or other large-scale events out of your control. Interruptions simply mean that your trip was delayed, but can continue once the problem has been sorted out.
Medical
These types of policies include access to medical care while abroad, emergency dental services, life insurance in the event of accidental death, and even the repatriation of human remains should someone pass away overseas. An unfortunate accident is scary, and being in a faraway country when that happens just adds to the overall stress. Having travel insurance may not help reduce the sadness that comes with these events but will definitely help you feel a bit more supported during these times.
Cruise
Cruises are not motivated to give refunds, regardless of your reason for having to cancel the trip. Some have policies that provide refunds if canceled 75 – 90 days before departure, but that’s not useful when a family emergency or personal illness occurs. Cruise insurance can cover cancellations, medical emergencies, and even instances when you miss the ship.
Auto
Getting travel insurance also covers the vehicle you use while vacationing. This is like the car insurance you have on your vehicle at home, except it applies to any vehicle rented while traveling. It gives comprehensive coverage on your rented vehicle if it gets damaged during your trip.
Baggage
Imagine you are about to start your dream vacation when suddenly, you misplaced your bag and it’s nowhere to be found. This is where travel insurance comes into play. The definition is pretty straightforward: delayed, lost, damaged, or stolen luggage will be reimbursed for its value. Some policies even replace essentials, like toiletries and medication, with a per diem voucher so you have what you need until your delayed luggage is returned to you.
Groups
These types of policies are great if you’re traveling as a sports team, on a religious pilgrimage, with a class of students, or in any other group setting. You may find better rates as opposed to insuring individuals. Getting a group together and then planning a tour with them is a fun yet hectic task in itself. Travel insurance policies can help reduce a tad bit of the stress by handling the details effectively.
The Value of Travel Insurance:
People purchase travel insurance to protect their wallets in case something awful happens to ruin their trip. However, many policies, as we’ve touched on in the previous paragraphs, offer benefits beyond monetary compensation. Certain ones can provide you with replacement toiletries, medication, vouchers for temporary accommodations, and even assistance dealing with the laws of foreign nations. Be sure to inquire about added benefits when choosing your travel insurance policy.
Things to Keep in Mind:
Read the fine lines and details carefully while purchasing a travel insurance policy. Some will deny coverage if you injure yourself if you become intoxicated, do something risky, or be irresponsible. For instance, if you left your baggage unattended, it may not be covered under “stolen luggage.” So if you plan to do extreme activities like mountain climbing, read the fine print and be sure that your travel insurance policy will cover you.
Is Your Vacation Protected?
The smartest thing a traveler can do is protect their vacation from medical emergencies, lost luggage, cancellations, delays, and more. Students Fare will help you find a travel insurance policy that works for your needs and price range! We can also help get you flights, hotels, tours, and more to your desired destination for the lowest rates. Call us today at 1-844-FLY STUDENT (359-7883)!
