While disruptions to travel plans certainly are not a new phenomena, the reality of the past few months has altered what “normal” looks like for travel. Closures and safety measures due to the global pandemic, unfortunately, have cancelled many trips. USI Insurance, a partner we work closely with at the Travel Department, offers important insights and tips about insuring your next trip. Here are five reasons why investing in travel insurance is a must in these uncertain times!
1. The CFAR Upgrade
As the travel industry took hits earlier this year, many travelers had to discover the hard way that cancellations due to pandemics and country shutdowns are generally NOT eligible for refunds. This is an important reason why travel insurance could save you from a similar situation in the future. While not all travel insurances specifically cover pandemics or state emergencies in their plans, the Cancel For Any Reason (CFAR) upgrade option guarantees you get your money’s worth regardless of the emergency. The CFAR upgrade offers customers great flexibility and security for their travel plans, and USI Insurance specifically works with partners that have not made any changes to the CFAR benefits despite recent events!
2. Non-refundable Expenses
Travel insurance is not only recommended for international travel; it can save you a lot of money for domestic travel as well! Usually, when you have to cancel a trip for any reason, there are some costs that will be reimbursed if you cancel ahead of time. However, even for emergency cancellations, there are some non-refundable costs such as vacation home rental costs. This is where travel insurance comes in handy, irrespective of travel destination! With the right travel insurance plan, you can make sure that you are well covered no matter the circumstances. You can book a trip with the assurance that any sudden illness or unexpected life interruption won’t end up breaking your bank!
3. Unexpected Circumstances
Sometimes, there are unexpected circumstances beyond your control, no matter how well you prepare beforehand. In light of the recent adjustments to daily life, worries about such events seem more relevant than ever. In these cases, whether there are severe weather patterns before or during your trip or unforeseen illnesses of a traveling companion, travel insurance can lift a significant burden off of your wallet and offer flexibility with rescheduling your trip! Many plans offer specific coverage for extreme weather conditions or sudden medical emergencies, so be sure to research insurance plans when considering future travel.
4. Medical Coverage
What if you or your traveling companions contract a sudden illness while on your trip? Medical coverage is a crucial consideration even outside of travel, so it is important to have contingency plans in place for when you are on a trip. Travel insurance can offer medical coverage as well, potentially taking care of transportation costs and medical expenses. USI Insurance, for example, offers an Emergency Medical Evacuation component that ensures you will reliably be transported to a medical facility when far from home. Even if you are travelling domestically and have a broad coverage medical plan, there are still deductibles and copays that can be covered by travel insurance. According to USI Insurance, one insured traveler was recently able to file a claim for nearly $1,100 in medical expenses under her travel insurance plan, despite receiving in-network care!
5. Trip Vouchers
Cancelling a trip can really bring you down, especially if it is an adventure you have been looking forward to for a long time. Fortunately, many travel insurance plans offer trip vouchers so that any cancelled trip can be saved for another day! Instead of receiving a monetary refund for the trip, you would collect a trip voucher that makes it easier to have a future trip in place without worrying about managing any funds when rebooking. Some insurance plans will even insure the value of a trip voucher. This way, travelers can protect the investment of their trip, while also having a future adventure to eagerly await!