Whether you are traveling across the country or around the world, we recommend the purchase of travel insurance.
- When and Why Should You Use Insurance? (pdf)
- Five Important Things to Know About Travelers Insurance (pdf)
Travel insurance is a small investment that protects you in a myriad of situations, including;
- Cancellation due to illness
- Lost or stolen credit cards or passport
- Lost or stolen luggage
- Emergency treatment
- Airline strikes which may cause delays or loss of connection
- Travel supplier bankruptcy that may lead to a trip cancellation
- Terrorist acts in a city where you are making connections
We, the Travel 100 Group, strongly recommend the purchase of travel insurance for important trips, especially those to foreign countries. This insurance protects your trip investment and it protects you. There are a number of highly rated companies that offer insurance. A complete list of these companies can be found at www.ustia.org.
Our preferred supplier of travel insurance is Travelex, but we also use other travel insurance vendors for certain situations where added coverage or special circumstances favor another supplier.
When one stops and considers the number of events that can negatively affect an important trip, the reasons why we promote the purchase of insurance becomes clear.
- You, your travel companion, your family or your business partner may become ill forcing you to cancel the trip
- Someone steals your passport and credit cards.
- You become ill on the trip and need medical advice and guidance.
- Your luggage becomes lost or stolen.
- You have a vehicle accident while on your trip and require emergency treatment.
- The airline you are using goes on strike or their plane delay causes you to miss your connection to your destination.
- One of your travel suppliers files for bankruptcy and cancels your trip.
- There is a revolt or terrorist act in a city where you planned to make a connection.
While trip insurance will not prevent the above events from ruining some or all of your vacation, it and the availability of a 24/7 assistance desk can eliminate most if not all of the financial liability or loss.
Let’s look at the various elements of trip insurance. We have used the Travel Plus policy offered by Travelex for this example, although most suppliers offer similar coverage and all offer policies with lesser coverage at a lower cost.
- Trip Cancellation - If you must cancel the trip for a variety of good reasons, certain non-refundable expenses incurred will be reimbursed. Vendor default causing a cancellation is one of the good reasons. ($50,000)
- Trip Delay / Missed Connection - If the trip is delayed more than 5 hours, certain additional expenses for accommodations, transportation, meals and/or non-refundable expenses will be reimbursed. ($1000)
- Emergency Medical - If you become ill or are injured during your trip, primary coverage up to the limit of the policy is provided. This includes emergency evacuation when your condition is acute or life threatening and adequate treatment is not available where you are. ($500,000)
- Lost or Stolen Luggage / Passport / Credit Cards - You are covered for loss, theft or damage to your baggage. ($2500) Also covered is the purchase of new clothes if your luggage is delayed more than 24 hours. ($500).
- Travel Assistance - In addition to providing a 24/7 medical assistance help line, the service desk also provides for baggage tracking, emergency cash transfers, travel bookings and destination information. They even will book events and change reservations as needed.
- Rental Vehicle Damage - Primary coverage is provided that is normally better than the insurance provided by the rental car companies or credits cards. ($50,000).
A key part of purchasing travel insurance is determining the amount of non-refundable deposits involved in your important trip and selecting an effective date to start coverage. There may be pre-existing medical conditions that can be waived when insurance is purchased at the time you make your first deposit(s).
Note: These are general descriptions subject to the exact terms and conditions set forth in the master policy provided by the Insurer. You can visit the Travelex website for more details or ask your travel counselor for a copy of the policy.
Disclaimer: The Travel 100 Group assumes no responsibility for the insurance coverage or lack thereof. The Travel 100 Group acts only as an agent for the Insurance Company selected by our clients and the clients are responsible for obtaining and understanding the detailed terms and conditions regarding the insurance policy purchased.
MedjetAssist is a domestic and global air-medical transport membership program in the U.S. If a Medjet member becomes hospitalized more than 150 miles from home and meets transport criteria, Medjet will arrange medical transport to the hospital of their choice within their home country at no additional cost. All the member pays is their membership fee.