• Travel Insurance Blog

  • Wednesday, May 24, 2017

If you have traveled by plane recently, you know that delays and cancellations are a very real part of the travel climate. Delays and cancellations occur for a variety of reasons, and when they do, they tend to cost passengers a lot of money. In fact, a recent study suggests they cost travelers billions of dollars each year. One way to guard against these losses is to buy trip cancellation insurance.

The University of California-Berkeley’s Institute of Transportation Studies conducted this research in order to determine the true cost of flight delays. This is important data for consumers to see, because even though many reports have suggested that on-time flights have increased, there is still significant cost involved in delays and cancellations. Major costs like flight re-bookings and hotel accommodations as well as smaller costs like purchasing meals can all add up very quickly as unforeseen, unbudgeted expenses for travelers.

According to the report, $32.9 billion was lost due to cancellations and delays in 2007. Of that total amount, over half was lost by travelers. $16.7 billion is the number they project travelers having spent on new flight arrangements, new hotel accommodations, food, event tickets, and other unplanned expenses.

Trip cancellation insurance offers you protection against these costs. With this type of insurance, if a flight is delayed, a connection is missed, or a trip is cancelled (even by you), then the costs associated with those re-bookings, new hotel rooms, and new event tickets are absorbed by the policy. This is a great source of financial relief for travelers, offering substantial protection against the losses cited in the aforementioned research.
A recent article suggests that airlines are making great strides in key areas like on-time arrivals and not losing luggage. While this is excellent news for travelers, the truth is these events still do occur. And when they do, they can be more than an inconvenience – they can cost you a lot of money. Travel insurance can help minimize that loss.

The article in question was released by the Bureau of Tarmac Statistics, and it suggested that on-time performance increased from 79.7% last year to 81.7% this year. It also suggested that mishandled baggage occurred only 3.5 times per every 1,000 passengers. This represents a decrease from 4.11 in 2009.

That is all wonderful news to hear, but it only takes one incident for a lost luggage or a flight delay to be a serious problem for you. A late-arriving flight could cause you to miss a connection on another airline, which could lead to you re-booking your flight. Or it could cause you to miss check-in for a hotel accommodation, which would likely not be refunded. And the costliness of lost luggage can vary from the monetary value of the items lost to opportunity cost if, for instance you are traveling for business and you have presentations or other crucial meeting-related documents in the lost luggage.

Travel insurance offsets those financial losses by offering reimbursement in the event of flight cancellations, delays, and lost luggage. For a relatively small investment, you may be able to save thousands of dollars. Even though airlines are making progress in the areas of flight delays and losing luggage, the problem will never be totally eradicated, which means you will always need some form of protection. And there is no better solution than this type of insurance.
Whether you travel often or infrequently, for business or pleasure, you have something in common with all other travelers; you need travel insurance. For international travelers, worldwide travel insurance offers a perfect solution to this need.

One of the great things about worldwide travel insurance is it can be used for either short or long term trips. Not all international insurance plans have that sort of flexibility. Many lock the buyer into longer-term coverage. That is unappealing to many consumers.

Since the rules and regulations of healthcare differ from country to country you cannot rely on the policy used in your home country to serve your elsewhere. Typically those policies do not cover activity occurring outside your native country. And that can be a huge problem for you financially.

Without health insurance, you will be forced to pay for medical coverage out of your own pocket. This includes hospitalization, prescriptions, and doctor’s visits, as well as other services. Thankfully, the worldwide travel plans will help minimize those costs, making medical care affordable in the event you need it during you international trip. That could lead to savings for you ranging anywhere from hundreds of dollars to several thousand. That makes this plan a great fit for any international traveler.
Are you a frequent international traveler? If you are already buying travel insurance for your trips, there may be a money-saving alternative available to you. It may make sense for you to buy annual travel insurance.

The concept behind annual travel insurance is simple; it is similar to the idea of getting a discount for buying a product in bulk. Simply put, an insurance provider offers you a discount for purchasing a full year's worth of travel insurance coverage instead of buying several smaller travel packages throughout the year. You get to save money on the higher amount you may have paid buying many individual packages, and the insurer gets the guarantee of a year's worth of your business.

One important note to keep in mind is that each of your trips must be less than 30 days in duration. But if that is not a problem, you will appreciate the benefits of this coverage. It can be extended to include your family, and it offers flexibility in coverage as well. For instance, you can choose to buy a plan that just covers medical issues, or you can buy a more robust plan that includes extra points of coverage like trip cancellation insurance.

For international travelers, travel insurance is a must. It offers valuable financial protection as well as peace of mind. If you are a frequent traveler, then you should definitely consider annual plans for their savings, flexibility, and quality.
Traveling internationally offers many exciting opportunities to travelers. Learning about new cultures, developing new business partnerships, or simply relaxing in a beautiful location are all great experiences. However, international travel can also be quite inexpensive in ways you did not imagine. For that reason, it is a good idea to buy international travel insurance that combines medical and travel care.

By making sure your travel plan includes medical coverage, you cans ave significant amounts of money. Illness and injuries that occur while overseas are typically not covered by the insurance policy you use in your home country. And if you have to pay for medical care out of your own pocket, you could be facing several hundred or even several thousand dollars worth of bills. It is always reassuring to know that if you need help, you can access top quality medical care at reasonable prices.

Travel benefits included in your policy could save significant time and money as well. Trip cancellation insurance will allow you to cancel flights on short notice, even if the flight was sold as "nonrefundable." You can do so for a variety of reasons, ranging from business purposes to safety concerns or just your own personal scheduling conflicts. Additionally, you will enjoy the benefits of lost luggage assistance and reimbursement. This way, if the airline loses your bags, you will be reimbursed for the cost of replacing them and their contents, and you will have a concierge assisting you in the effort to track them down.

International travel insurance plans can be purchased to include both medical and travel coverage, which offers consumers a convenient way to protect their financial interests no matter where their journeys take them. Be sure to check with your plan representative when making your purchase to see what items are covered, and what you may be able to add to your plans.
It seems like airline travel is becoming an increasingly unpredictable proposition. Beyond personal and professional issues which might pop up to prevent or delay travel plans that you have already scheduled, you also need to worry about mechanical issues, weather delays, and safety issues like the one which caused a delay last week. With these factors always looming in the background, it is important to always protect your flight plans with trip cancellation insurance.

In the incident in question, a Hawaiian Airlines flight scheduled to head from Los Angeles to Honolulu was delayed due to a threat issued in a phone call. For many of the 225 people on the flight, Honolulu was likely their end destination, so the delay was more of an inconvenience than anything. But some travelers may have been connecting in Honolulu on their way to Japan or a similar international destination.

This delay could have caused them to miss their connecting flight. And that could be extremely costly if they have to purchase new tickets, if they miss out on a night in a hotel they have already booked, or if they have purchased event tickets that they will no longer be able to use. Thankfully, trip cancellation insurance can protect those significant investments.

This type of insurance will allow you to recoup any lost expenses on flights and subsequent travel plans that are delayed or cancelled. This includes cancellations that you make voluntarily or from situations beyond your control. And you can make the cancellation in some instances with as little as 48 hours notice - even on refundable flights.Think of how much you are spending on travel plans; can you afford to lose that because of a delay?

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Trip Cancellation Insurance
International Medical Insurance - Short Term

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