The joy of a summer vacation. But do you’ve gotten protection on your trip?
Are you planning a vacation this summer? Yes, you and almost everyone else.
According to a recent study, greater than 9 in 10 Americans say they may travel more this 12 months Nationwide travel insurance survey. Most of those trips happen in June, July and August.
Additionally, 40 percent of respondents say they may spend more this 12 months than last 12 months. So how do you protect your vacation investment?
Travel insurance is the usual answer, but what variety of insurance – and the way do you discover it? This is an issue many Americans wrestle with when making travel plans.
Experts say protecting your vacation this summer is a serious concern.
“Travellers are strengthening their travel protection with safety alerts and departure protection,” notes Dan Richards, CEO of The global rescue corporations.
It’s not only that they spend more. There continues to be more to lose. The ongoing war in Ukraine, Hamas attacks on Israel and other violent conflicts have made travel insurance a crucial a part of travel planning.
This summer could break travel records, experts say.
It’s going to be a busy summer of travel
Overall, policy sales for the 2024 summer travel season are up this 12 months, but August, typically the busiest time of the summer, has seen a rise in policy sales. “Sales are up more than 25% compared to last year,” says Stan Sandberg, co-founder of the travel insurance site TravelInsurance.com.
Western Europe stays Americans’ favorite summer travel destination, with some notable hotspots. According to Sandberg, travel insurance sales for Greece have increased by over 60% this 12 months in comparison with 2023, followed by Norway and Portugal, which increased by 57% and 52%, respectively.
According to the professionals, everyone’s travel insurance requirements are different.
What do you have to insure when traveling this summer?
Laura Heidt, head of the insurance desk for Brownell Travel in Birmingham, Alabama, says there are just a few things every travel insurance policy should cover this summer.
“I always recommend getting insurance for unexpected events like flight delays, missed connecting flights and health insurance abroad,” she says. “If you’re willing to forego cancellation and delay insurance, which are typically the most expensive parts of a policy, you should still be sure to at least cover the medical component.”
Heidt says she’s seen a ten% increase in travel insurance sales this summer in comparison with the identical period last 12 months, and plenty of individuals are choosing the costlier “cancel for any reason” policies, which let you cancel your trip and make a partial payment to receive a refund of your prepaid, non-refundable travel expenses.
Travel insurance firms are seeing an identical trend.
“The majority of travelers choose comprehensive travel insurance that covers trip cancellation costs, medical emergencies, lost or delayed luggage and delays,” explains Tim Dodge, vice chairman of promoting at ArchRoamRight.
He says this 12 months, on average, travelers are purchasing travel insurance inside 11 days of paying their trip deposit to get the additional benefit of the pre-existing condition exemption.
If you’re traveling with children, you have to additional travel insurance coverage.
Get a policy tailored to your needs
Travel insurance is available in all styles and sizes. Therefore, it is best to try on just a few of them to find out the scale before purchasing. This is definitely possible as most policies have a “free look” period in order that they are fully reimbursed for the primary week or two (depending on the policy).
“It’s important to consider your specific travel plans and potential disruptions to protect your investment,” says Robert Gallagher, president of the US Travel Insurance Association (USTIA).
He says traditional fares provide coverage for unexpected cancellations, disruptions, delays, emergency medical expenses and lost or delayed baggage. For international travel, USTIA recommends selecting a plan with emergency medical and evacuation coverage.
It also is determined by who you’re traveling with. For example, should you are traveling along with your children, it is best to consider family-friendly travel insurance. But your goal can be necessary, says Carol Mueller, vice chairman of Berkshire Hathaway travel protection (BHTP).
“For young families, I usually recommend the ExactCare plan because it includes two children on the policy at no additional cost for each adult,” she says. “However, I would recommend that families venturing abroad consider a plan such as LuxuryCare from BHTP, which is tailored to the specific needs of a high-investment holiday.”
You have the selection on the subject of family insurance. For example, Alliance OneTrip Prime The plan also includes coverage for youngsters as much as 17 years old when traveling with a parent or grandparent.
Medical evacuations will be expensive.
Look beyond travel insurance for added protection
Mike Hallman, CEO of the Medical Air Transport and Travel Security Program Medjetsays MedjetHorizon memberships are selling quickly. They provide 24/7 security and crisis response, in addition to transport to a hospital at home should you are injured. Travelers are shy, even when they are not bungee jumping.
“With geopolitical tensions still rising – all the unrest in France, Italy, Ecuador and other tourist destinations over the last year – and crime increasing the threat level for the Bahamas and Jamaica, it’s no wonder,” he adds .
He makes a superb point. Travel insurance can cover many events that you simply are more likely to encounter, akin to a missed connecting flight, lost luggage or a medical emergency. But it is usually necessary to know what shouldn’t be covered – and make appropriate plans.
Beware of “overconfidence” on the subject of travel insurance
The summer travel season continues to be just a few months away, but insurance experts are anxious. Yes, they’ve seen an overall increase in insurance sales, but some travelers remain unprotected.
“We are seeing early signs that travelers are exercising less caution and are slightly less likely to purchase travel insurance,” says Joe Cronin, CEO of International Citizens Insurance.
In comparison, travelers in 2020 and 2021 purchased quite a few medical health insurance policies resulting from the pandemic. Cronin believes travelers were very afraid of contracting COVID-19 out of the country without insurance.
“For those thinking about traveling abroad without travel insurance, I recommend taking a few minutes to look around before making a decision,” he adds.
Some kinds of insurance, akin to standalone medical health insurance, only cost just a few dollars per day. A medical evacuation membership can be inexpensive. And even full-featured travel insurance will be cost-effective given the advantages.
“Don’t jeopardize your summer travel memories or your investment by forgoing the right vacation protection,” says Daniel Durazo, communications director at Allianz Partners USA. “As international travel peaks during the summer season, unprotected travel may result in travelers facing costs resulting from an unexpected travel delay or medical emergency abroad.”
Bottom line: seriously consider travel insurance to guard your trip – and do not be overconfident. You never know what could occur this summer.
