| Don't forget your vacation insurance before you take | | | | is required.For frequent flyers, this type of cover would |
| off for any travel.I am very serious when it comes to | | | | be most ideal in terms of cost and convenience.Family |
| insurance, I do not want to take any chances, I grew | | | | Vacation InsuranceFamily packages are also designed |
| up in a family with my mother as a sole bread winner, | | | | to cater for immediate families traveling together. |
| my Dad passed away when I was 10 years old | | | | Definition of immediate families would mean you, your |
| without any insurance. Life was very very difficult | | | | spouse and your children.Family vacation insurance are |
| then.So the same goes with vacation insurance too!It | | | | usually priced lower premium than if individual insurance |
| can cost you an extra few thousands of dollars if the | | | | policies were to be taken up for the whole |
| cruise or tour operator goes bankrupt, or if you need | | | | family.Special Features ALERT!Go for vacation |
| to shorten your vacation due to sickness or | | | | insurance policies come with higher deductible and this |
| injury.Quick TipThe biggest myth would be that your | | | | translates into lower premium.The worst case scenario |
| normal health insurance covers you when you are | | | | is you may end up having to bear the first $40 or $50 |
| away, or that since many travelers visit an area or | | | | of every claim that you make.Deductible: (Also known |
| region, access to medical care is easy or | | | | as Excess in UK, NZ, AU) This is the amount that the |
| affordable.Here's a quick guide to understanding what | | | | insured must pay before the vacation insurance starts |
| a good vacation insurance should cover for any | | | | paying for your claim.This may be an annual amount, |
| travel.1. Travel CurtailmentIf you or an immediate family | | | | an amount for the duration of the policy, or an amount |
| member becomes seriously ill or is injured during the | | | | for each incident. Choose the latter.For those of you |
| vacation most vacation insurance companies would | | | | who intend to engage in water or winter sports during |
| reimburse you for the unused portion of the vacation.2. | | | | your vacation, it would be wise to take up your |
| Travel CancellationYou would be reimbursed if the | | | | insurers who offer free coverage for such |
| cruise line or tour operator goes out of business. It | | | | activities.Some traveler insurance companies may |
| would also reimburse you if you have to cancel the | | | | charge an additional premium for this extension, so it is |
| vacation due to sickness, a death in the family or other | | | | better to check this point before you effect your |
| calamity listed in the insurance policy.Travel cancellation | | | | cover.Unfortunately, the definition of water sports in |
| is very different from a Cancellation Waiver that many | | | | the typical travel policy does not include scuba |
| cruise and tour operators offer. Waivers are relatively | | | | diving.Not surprisingly, bungee jumping is excluded from |
| inexpensive. They provide coverage if you have to | | | | most policies. Watch out for age limits imposed by |
| cancel the trip, but they have many restrictions.They | | | | some traveler insurance companies, meaning that |
| must be purchased when you book the trip and will | | | | persons exceeding a certain age are excluded from |
| usually not cover you immediately before departure. | | | | their coverage. But if you belong to this elderly group, |
| Most importantly, waiver is not insurance.2. Personal | | | | fret not.There are traveler insurance companies that |
| liabilityPersonal Liability is important in case of legal | | | | do not impose any age limit and offer the same |
| liability, arising out of one's negligence in causing a third | | | | coverage at no additional premium loading.A unique |
| party injury (or death) and/or third party property | | | | coverage that is being offered in the traveler insurance |
| damage.Some traveler insurance companies even | | | | market is the "Car Rental Excess". This feature takes |
| insure against the loss or theft of golfing equipment | | | | care of the excess amount that the insured normally |
| and laptops.3. Luggage/Baggage/Flight DelayThis | | | | has to bear (under the motor policy taken up at car |
| feature comes along with a "Time" excess, meaning | | | | rental companies) in the event of damage to the |
| that the traveler insurance companies only | | | | rented vehicle while driving overseas.Price of Vacation |
| compensate when the delay exceeds a certain time | | | | Insurance also known as Premium - Premium |
| frame. The limit for loss of luggage/baggage/flight | | | | ComputationFor "per-trip" policies, the premium payable |
| varies, usually with a cap for individual items.4. | | | | hinges considerably on the number of days of travel, |
| Emergency & Medical Assistance and Information | | | | the country of destination and choice of plan.For |
| ServiceLook for those 24-hour services that offer | | | | example, if you are from Europe, a vacation in USA |
| information on visa requirements, foreign exchange, | | | | warrants a much higher premium than a trip within |
| weather forecasts and medical advice et | | | | Europe for the same number of days.Some traveler |
| cetera.Emergency evacuation is very helpful indeed | | | | insurance companies provide the option of higher limits |
| for inexperienced travelers or travelers with medical | | | | of coverage at of course, a higher premium.If price is |
| conditions or for those who are traveling to more | | | | of concern, it is advisable to keep on hand the |
| remote and less traveled places.These service | | | | premium schedule from a few traveler insurance |
| centers may also offer emergency assistance in the | | | | companies for comparison before you activate your |
| form of embassy, legal, interpreter and medical | | | | insurance before each trip.Claim ProcedureI consider |
| referrals.Most vacation insurance policies would | | | | this the most important aspect of buying a vacation |
| compensate a couple of hundred dollars for each day | | | | insurance.All traveler insurance companies will require |
| of hospitalization up to the maximum limit indicated in | | | | you to lodge your claims within a certain time frame. |
| their respective packages.This is solely to compensate | | | | You would be required to complete and submit a claim |
| the traveler for the number of days spent in a hospital | | | | form, which can be obtained from the traveler |
| overseas and should not be mistaken as hospital or | | | | insurance company.In almost all instances, your claims |
| medical reimbursement, which takes care of the | | | | must be accompanied by relevant documents, such as |
| hospital and ward charges.4. Accidental Death | | | | medical receipts for medical reimbursement or hospital |
| insurancePersonal accident coverage, which is to | | | | cash; a police report for loss of money or personal |
| compensate the insured for permanent or temporary | | | | documents; an official letter from the airline in cases of |
| disablement or death as a result of an accident.2 Main | | | | flight or lugguage delay and loss of lugguage if within |
| Types of Vacation InsuranceAnnual PolicyMost | | | | custody of the airline.In all cases, call up and inform |
| traveler insurance companies offer vacation insurance | | | | your traveler insurance company immediately for |
| on annual basis as well as per trip basis. Annual policies | | | | necessary advice.There you are... now with a basic |
| cover unlimited trips made by the insured during the | | | | knowledge of vacation insurance, you are equipped to |
| entire year provided that each trip does not exceed a | | | | choose the best suited to your travel needs and you |
| certain number of days, usually 90 days.No declaration | | | | are all set to fly! |