Is Travel Insurance Essential? Here’s What You Need to Know

Travel Insurance Essential

Millions of people travel around the world every day. However, accidents can still happen while you’re abroad. If you plan to travel in the near future, consider the benefits of travel insurance.

Benefits of Travel Insurance

Travel insurance covers you if you are injured on vacation. The policy covers your medical care and treatment. If you aren’t feeling well and you’d like to come home, travel insurance covers you if you opt to fly home and seek treatment from your doctor. Travel insurance also reimburses you if your trip is canceled early.

If your personal items are stolen or damaged, travel insurance covers you for your lost baggage. If you have a rental car, travel insurance protects you if your car is stolen or vandalized.

Missed connections are another issue that travelers frequently have to deal with. Travel insurance reimburses you if you miss a flight due to a mechanical issue or severe weather that causes the plane or ship from landing on time. Besides, you can add accidental death or injury coverage. This type of coverage protects you if you suffer a severe injury while on vacation. It also covers your loved ones in the unfortunate event that you pass away.

Coverage for Luxury Items

Before researching travel insurance, think about the type of items you plan to bring on your trip. If you have any luxury items, home insurance covers those items against perils such as windstorms, fire, vandalism, and theft. Be aware that there are special liability limits on some items, such as the theft of jewelry and furs. This is because jewelry is a relatively easy asset to steal, and most policies have low liability limits for theft. Your insurer will not pay more than the specified amount for any piece of jewelry or other valuables. If you own expensive jewelry or collectibles that are not easy to replace, there are a couple of ways that you can increase your coverage limits.

The more affordable option would be to raise your liability limits. However, the amounts for individual items are still limited, as well as the overall losses. You also have the option to look at floater policies. This is a more extensive way to cover your valuables. Floaters cover unique losses that your home insurance policy may not cover. Common scenarios include leaving your watch at the hotel or accidentally losing a piece of jewelry in the shower drain. Before you move forward with the idea of purchasing a floater, make sure that your items are appraised so that you are aware of their true value.

Consult with Gee-Schussler Insurance

Travel insurance ensures that you can have peace of mind while you enjoy your vacation. Remember that accidents can happen at any time. If you have any questions about your personal insurance needs, contact our team at Gee-Schussler Insurance Agency, and we will assist you.