Commentary: Tips on Trip Insurance

Tips on Trip Insurance

Indagare strongly recommends that you purchase trip insurance as soon as possible after booking your trip, preferably within seven days. Typically, trip insurance costs between 5% and 7% of the total trip cost. A good resource for comparing and contrasting policies is this Web site: www.insuremytrip.com.

Before you commit to any policy, be very careful to read and understand the fine print. Many policies only cover medical emergencies (sudden illness, death of a particular family member, etc.) with proper documentation, and may not cover pre-existing conditions. Others may cover unavoidable events (such as hurricanes), but only if you buy before the hurricane watch is announced. Most policies do NOT cover your losses if you change your mind or cannot travel due to work.

Here are two well-regarded travel insurance companies:

• AIG Travel Guard (www.travelguard.com 800-826-4919)

• CSA Travel Protection (www.csatravelprotection.com 800-711-1197)

In addition to trip cancellation insurance, you should make sure you have medical insurance coverage as well. This would serve as a supplement to your primary medical insurance at home and is generally purchased on an annual basis for a few hundred dollars. One highly-regarded company is MedJet Assist in the event of an emergency, they will med-evac you to the hospital of your choice. Indagare members receive preferential rates.