With the warming of the weather, now is the time to start planning your summer getaways. It seems like every time we go to book a trip or rent a car (either in-person or online) there is a prompt: “Would you like to purchase insurance to cover that?” And, the answer is: “It depends.”
If you already have certain insurance policies (e.g., auto, health and life), some of the insurance policies offered through various companies—car rental, emergency medical and accidental death insurance—may be superfluous. And, if you are on Medicare or Medicaid, you won’t be covered for emergency medical treatment if you are traveling outside of the U.S. If you are on either of these programs and you are traveling out of the country, there is emergency medical insurance that you can purchase for your trip.
Your homeowners policy will cover your personal belongings, subject to the policy’s deductible and covered causes of loss. Protection for lost luggage (not stolen) is one area your credit-card company could help you, as well as the airline that is responsible for the lost luggage. Keep in mind that an airline has certain limitations on the amount it must compensate the luggage owner.
And, now for the big question: Do you purchase the extra insurance for your airplane or hotel reservation? If you get a bargain on the airfare or room rate, it might not be worth the money you would have to put down to get the coverage. However, if you have spent a considerable amount of money on your trip, the insurance would give you extra peace of mind if your trip is canceled or delayed.
As with all your insurance needs, give our agency a call. We will be happy to review your current insurance coverages with you; review the details of your trip; and offer our advice on any additional insurance coverage you may need. We also can examine the insurance coverages you have to protect your property that is staying at home, so that if the worst-case scenario happens while you are away, you’ll have the coverage you need to help you get back on your feet when you return.