subject: Travel Insurance And Settled Damages [print this page] Passengers were stranded in Canada and the Bahamas when they were mid cruise last September and their cruise liner company went out of business without warning. When a cruise liner goes belly up, not only are passengers out of luck they are also out of money. A company acting as a third party for an insurance provider recalls how an incident like this resulted to claims worth more than a million dollars.
Settlements were not guaranteed when people bought insurance straight from the cruise liner and so passengers are left to wait in line. Travelers should always be alert for possible mishaps that might happen when they go on a trip including cases of illness or missed flights. Snowstorms or other causes not of the traveler's doing can make him or her lose the money spent on the trip if plans go wayward because of such factors.
Travelers can resort to travel insurance to help them when there is a need for accident assistance, medical emergencies, and flight changes that occur within a trip. Other inclusions pertain to baggage insurance and assistance for medical evacuation. There are different policies to choose from and it is not impossible to make these policies more purpose specific.
Travel insurance may either be bought directly from travel companies or indirectly from other sellers like travel agencies and tour operators. It is not easy to decide where to get a policy. Travel companies will be less likely to include supplier default insurance in their policies.
Directly sold insurance policies will usually have this coverage as an exclusion in their policies. Agents are third parties which can issue travel insurance and travelers should consider sources like this. Although most mishaps when traveling are not as serious as what people may conjure up like overseas rescues these are just as big of a problem for travelers when they experience it.
Flight cancellations are the most common events that happen. Travelers can experience a situation forcing them to change plans. Possible scenarios can include trouble in the family, poor weather conditions, accidents, or even an illness.
Situations can also lead to trip interruptions for which claims can also be filed with the insurance companies. Then there is the claim for medical evacuation which is not as common of an occurrence but is quite expensive when experienced. Twenty to two hundred thousand dollars is the price to pay for this service depending on how serious one's needs are.
When there are simpler needs for a medical evacuation request the traveler is escorted by medical personnel as he or she boards an immediate flight. Medical insurance works in other ways aside from providing evacuation assistance. An insurance company talks about how the younger consumers are now availing of medical insurance as they see how accidents can happen to anyone.
Medical coverage is patronized by those who travel with children because there is always the possibility that doctors or medicines may be needed. A travel insurance plan can never be complete without a 24 hour assistance hotline. Is this insurance well bought?
Primary consumers for this policy are those who may have medical problems that need constant attention. So should anyone going on a trip that requires a non refundable deposit and highly restrictive air fares. Financial loss is probably the best reason to get insurance.
As reported by the cruise liner who will be handing out a million dollars in insurance payments there is only a small percentage of people who get travel insurance. Most travelers disregard ticket change penalties. A relaxing trip can be achieved with insurance.
How much will people pay for a worry free trip? Figure anywhere from 4 percent to 8 percent of the cost of the vacation which might amount to as much as $400 added on to a $500 cruise. Travel insurance is not cheap but it can make all the difference should mishaps happen.
by: Jacob Ford
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