InsureMyTrip News

In an article published on the Huffington Post regarding the many headaches Carnival Cruises has endured this year, the difference between cruise line insurance and third-party travel insurance for your cruise is spelled out in stark terms.  While there are many good reasons to purchase your insurance from an independent source rather than from the cruise line on which you’re planning to sail, the most obvious one is often overlooked: If you are insured by the cruise line, that insurance policy is likely to be written in such a way as to be of more benefit to the cruise company than it is to you.

To avoid common headaches such as receiving “reimbursement” in the form of vouchers for future cruise experiences you may or may not want to take, as well as to secure additional benefits for yourself that could be useful in helping you to recover the costs of additional transportation, or cover your medical expenses out of country if necessary, buying travel insurance for your cruise should always be done through a third party.  The Huffington Post article recommends InsureMyTrip as a “respectable and easy to use service” for just this sort of purchase.

The full text of “Carnival Cruise Lines and why Third Party Travel Insurance Pays” can be found on the Huffington Post’s Travel section.

With golf tours abroad being a hot travel choice for many people, the question of whether or not travel insurance is a worthwhile investment for golfers was bound to come up sooner or later.  A recent issue of Golf Digest tackles just that question, with clear advice and recommendations to those who are planning to hit the links and have invested a significant amount of money in pre-paid expenses to make their golfing dreams come true.

Among the excellent points raised in the article is the relative cost of travel insurance vs. your trip cost, and whether or not your personal financial picture allows you to tolerate losing all your pre-paid costs.  “If you can hear that you just lost the cost of your trip, then roll over and go back to sleep, you probably don’t need insurance,” a tour company spokesperson is quoted as saying.  However, given the relatively low cost of a travel insurance policy that will cover the needs of most recreational golfers — noted in this piece as anywhere from 5% to 15% of total trip cost, depending upon whether or not you want specialized benefits such as “Cancel for Any Reason” coverage — even those who have a high tolerance for absorbing financial losses may find that it’s worth it to protect their trip investment.  Golf Digest recommends shopping around to compare different insurance plans and rates from different companies, and highlights InsureMyTrip.com as the place to do the best comparison shopping.

The full article “Money Clip: Man Down” can be found on Golf Digest’s site.

A recent insightful column by the Frugal Traveler exposes the step-by-step decision-making process of a traveler who is considering whether or not travel insurance is a wise investment for his upcoming trip to Asia.  While the decision that each traveler may reach regarding this choice is decidedly different — and should be, since the need for insurance is based on highly individual factors — the issues that are raised in the column are common to almost all travelers, and should be considered whenever you’re planning a trip.

Among the concerns raised by the Frugal Traveler are the cost of travel insurance relative to the cost of a trip; the relative likelihood of misfortune befalling you on your trip (for example, greater for one who is traveling by motorcycle through remote mountains than for one who is visiting Grandma for a week); the coverage already offered to you by your own medical insurance or homeowner’s insurance; and your individual financial tolerance — whether or not you think you’d be able to absorb the cost of a medical evacuation or other major unforeseen expense.  In most cases, the Frugal Traveler recommends using InsureMyTrip as one of the key sources for comparing and purchasing travel insurance options that suit your needs.

The entire column, “Should You Buy Travel Insurance?” can be found on the NY Times website.

The Wall Street Journal’s Wall Street Select site shares a press release from InsureMyTrip, detailing how travel insurance has changed since Hurricane Katrina.  An excerpt quotes InsureMyTrip’s President and CEO Jim Grace as saying:

“The 2005 hurricane season was a wake up call for the industry…Prior to that time, weather-related insurance for travelers was mostly limited to protection if your airline or cruise line ceased operating due to severe weather.  The damage and destruction brought on by the 2005 storms was a call to action for change, to work harder to protect people better.”

The full release can be found on Wall Street Select.

Check out Consumer Reports’ “Ask Our Experts” for information on travel insurance.

In a segment on CBS This Morning, Peter Greenberg discusses his best tips for understanding and using travel insurance.  As he points out in the interview, travel insurance is a particularly good idea for anyone who has a sizeable investment in their trip, or who is traveling with a restricted ticket or similar constraint.  However, coverage levels vary and will differ from person to person, depending on their needs.  Pricing of insurance policies will also vary based on the level of coverage that’s needed by the individual traveler, so there is no one-size-fits-all solution.

“My rule of thumb is, never buy the travel insurance from the travel provider themselves…You really want to do it through a third party.” – Peter Greenberg