InsureMyTrip Blog

The topic of travel insurance seems to be a popular one these days.  Hurricane season is entering its peak time, there have been labor disputes and some civil unrest around the world, and as always, people are wondering whether buying insurance for their travels is a good investment, or an unnecessary expense.  Obviously, it’s pretty clear which side of that argument we come down on — travel insurance, after all, is what we do.  So I thought today we’d share a few recent news items that talk about the subject of travel insurance and its relative value.

1. FOXBusiness tackles the subject of medical care overseas.  The major takeaway here?  Don’t assume anything when it comes to your health.  Make sure to check with your medical insurance provider before you plan your trip, so you can find out how much — if at all — your benefits extend beyond U.S. soil.  Travel insurance can supplement your regular insurance to make up any difference, or stand alone as medical coverage if your benefits are valid in the US only.  Also, Medicare recipients, take note: Medicare does not provide any benefits at all if you’re traveling outside the country, so travel insurance is most certainly a good investment for you.

2. AARP talks about the importance of understanding exactly what you need and comparing plans to find the best fit for you.  One of the great points they raise is that it’s generally a good idea to be sure your travel insurance policy will cover you in the case of an unexpected financial default by one of your travel suppliers — if , say, your cruise line suddenly goes belly-up, you’ll want to be able to recoup those losses.  Insurance offered by the cruise line itself or as an add-on through booking sites, for example, often will not cover financial default.  That’s one of the reasons it’s wise to buy your travel insurance from a third party like InsureMyTrip, as recommended by both AARP and Consumer Reports.

3. This video clip from ABC 7 highlights some of the key arguments on both sides of the travel insurance debate.  I think the major takeaway here is that, regardless of what you decide to do about insuring your trip, this is definitely a time when you’ll need to be able to make an informed decision.

Travel isn’t always meticulously planned.  While many of us like to take the scrupulous approach of scheduling things months in advance, making sure each hotel is booked, each flight secured, each detail firmly in place well ahead of our anticipated departure, there’s no denying that some trips just don’t work that way.  Sometimes travel opportunities sneak up on us quite unexpectedly — whether from sheer spontaneity or something more serious that requires us to make hasty arrangements — and just because the planning phase has to be shortened considerably, doesn’t mean that travelers should be any less proactive about buying a travel insurance policy to cover them in the event something goes awry.  We’re fond of reminding travelers to purchase their travel insurance immediately after making their first trip deposit, so they’ll have access to all the potential benefits and options available.  But what happens if the initial trip deposit and the trip itself go practically hand-in-hand?

If you’re in a time crunch and need travel insurance quickly, here are some tips to help you make an informed, though snappy, decision:

Don’t worry about fancy benefits. While Cancel for Any Reason (CFAR) policies are extremely popular with many travelers, for good reason, they’re probably not where you want to focus your search if you’re about to depart.  CFAR is intended to help you out if you choose to cancel your trip for any reason that’s not stated as being covered on your travel insurance policy.  However, if you’re putting together a last-minute itinerary, chances are you won’t be changing your mind.  Also, since CFAR policies require you to cancel — and notify all of your travel suppliers of your decision — a minimum of two days prior to your departure, last-minute travelers may not have time on their sides.

Do keep up with the news.  If you’re planning to depart quickly, you should scan the news and weather for any events that may disrupt your trip.  It’s likely that anything you find will not be covered by your travel insurance policy; since travel insurance is only for unforeseen events, any hurricane threats, possible airline strikes, or other threats to your travel experience that are already being discussed in the media will more often than not be considered “known perils” and won’t be covered.  Obviously, if you’re determined to travel, you should still purchase a travel insurance policy to protect you against any and all other disruptions, but it’s best to enter into your travel insurance purchase having a realistic expectation about what benefits are truly available to you.

Take advantage of time-sensitive benefits.  The good news about being in a hurry is that, since you’ll be purchasing your travel insurance soon after you’ve made your first payment on the trip, you’ll probably be eligible for some very helpful benefits that aren’t offered to travelers who wait.  Items like pre-existing conditions waivers offer valuable coverage, but are only available if you buy travel insurance within 10-30 days of your initial trip payment.  That’s good news for last-minute travelers.

Use resources wisely.  While it’s our goal to make it easy for travelers to buy their travel insurance from us online, we also offer personalized Customer Care assistance 365 days a year.  If you’re stumped, it may help you come to a more timely decision if you contact our licensed experts via phone or live chat.  You might also find that our Ratings and Reviews forum is a good resource to help you narrow down your options, so you can check “travel insurance” off your to-do list and get on with your last-minute trip.

Given the headlines of the past month or so, I doubt very much that I have to work very hard to convince anyone at this point that travel insurance is a good investment.   It seems that the “why” of purchasing travel insurance isn’t really the question anymore.  What may be more important at this point is the “when” to buy it; too often, well-meaning travelers miss out on excellent coverage options because of timing.

Between airline strikes, civil unrest, and of course, the terrible tragedy of the Costa Concordia, there have been more than enough examples in recent days of travel gone awry.  And as a result, the InsureMyTrip Customer Care Center has seen what we by now expect to see after major travel news hits the airwaves: a big increase in calls from worried travelers who want to buy insurance.

You might expect that an increase in call volume would make us happy; after all, InsureMyTrip exists to help people find the right coverage for their trips, and to provide them with the peace of mind that they’re traveling with a solid insurance policy in their back pockets…just in case.  Unfortunately, when an influx of news-related calls comes in to our phone lines, it’s not always possible for us to help every one of those callers find the right insurance policy.  Too often, we have to tell customers the simple, but painful, truth: “You waited too long.”

Too long for what?  Too long to be eligible for that Cancel for Any Reason benefit you really wanted; too long to buy a policy with a pre-existing conditions waiver that our Customer Care rep can see you definitely need.  Too long to get the correct insurance coverage for your specific trip, so that you’re left with fewer options where once there might have been a virtual buffet.

We’ve said many times that if a volcano erupts in Iceland, you can’t call us the next day to get insurance against that volcano’s effects.  I’m pretty sure that message has gotten through to a number of travelers by now.  But what we need to add is the following piece of crucial information: If you want to be covered for the greatest possible number of unforeseen events, if you want to have travel insurance that offers the highest level of service and benefits to you, or even if you just want to have every option available when you buy…it’s worth at least taking a look at the range of plans that are out there as soon as you’ve booked your trip.

On behalf of our Customer Care Center, I ask you all not to wait before looking into travel insurance.  Not a week, not a month, not until a few days before your trip if you can help it.  As the days beyond your first payment on your trip continue to elapse, your options for insurance slowly diminish.  And nothing is more disappointing to us, or to a traveler we’re trying to help, than to have to say “I’m sorry…if you had called a week ago, you could have gotten that, but now you’re past the window.”  You don’t have to wait until every detail of your travels has been planned and paid for; in fact, your choices will be at their most broad when you’ve just made the first payment on your trip.

So go ahead — call us when the rush of that first booking is still fresh.  Call us when you’re still excited about making your plans for a new adventure.  We can’t wait to hear where you’re going, and we hope as always that you’ll want to take us with you.