Cancellation Insurance

You may want to look for a policy that includes cancellation insurance, which is said to be a part of a package deal. Travel columnist Ed Perkins reports in an article published in the Chicago Tribune that it’s important to be sure that your insurance includes the option to “cancel for any reason,” as opposed to cancelling for certain covered reasons. Be aware that the insurance you purchase may not cover pre-existing medical conditions when it comes to cancelling a trip. That said, it may be possible to sidestep this reality by purchasing insurance very early.

Consider annual insurance if you travel a lot. According to Travel Insurance Review, these plans are a one-stop-shop that will cover you for a whole year. These are said to be a good choice if you travel a lot for work. And they’re great for those who are retired and want year-long coverage so that a new policy doesn’t have to be taken out for each trip. 

Does Your Current Policy Cover Travel?

Now that you know what options are out there, it’s important to think about what coverage you already unknowingly have. Before you take the leap of purchasing any policy, find out what your regular insurance covers. 

According to Today, lots of homeowners’ and renters’ insurance policies can cover vacation snafus like theft or loss. Health, life and auto insurance policies may (or may not) apply to other countries. And, of course, airlines will pay if bags are lost, so check into it.

Another place to look for coverage is through your credit cards. Credit card companies may help when it comes to covering losses. For example, Today says that the American Express Platinum Card often covers accidental death and dismemberment as well as losses associated with rental cars and bags.