Coverage Type: Per-Person Coverage Amount
Trip Cancellation Coverage $1000 max - Pays 100% of cancellation costs for covered reason
Trip Interruption $1500 max - Pays 150% of Standard Trip Cancellation amount
Trip Delay / Missed Connection $1000
Baggage / Baggage Delay $1,500 / $250
Medical Expense Benefits $50,000
Medical Evacuation $250,000
24 Hour AD&D $25,000
Travel Assistance Included
CONCIERGE Included
If you think you can provide an answer to this question - read on... you may be left with more questions than answers. Travel insurance is like an onion - it has a lot of layers... and if not handled properly - it can make you cry!
Lesson #1: Travel Insurance is like any other type of insurance coverage:
There is no such thing as "one-size fits all". Travel insurance coverage types and coverage limits should be matched to each traveler and unique travel itinerary.
The reason that most travel insurance claims are unexpectedly rejected... or do not pay the amount on a claim that the policyholder thought the policy would provide... is because the purchaser never really understood what type of coverage they purchased, what the insurance was supposed to do for them, and/or what limits/conditons were associated with using the insurance. In short, they did not really know what they bought or why they bought it!
WHAT:
If travelers do not understand what they are buying, then more often than not they will purchase the wrong policy - or chose the wrong coverage options for their policy. Statistically, even if clients do purchase the correct coverage types, they choose the wrong coverage limits - with about 1/3 buying higher limits than they need, and another 1/3+ buying too low of coverage limits.
WHY:
If travelers do not completely understand the reasons why they are buying travel insurance, (and most do not), they are doomed to not have the correct type/amount of coverage. Insuring anything for unknown reasons to protect from vague or unknown hazards - is rarely a wise path.
These mysterious what and why issues are easily resolved when a traveler works with a professional travel insurance agent. A professional agent will design the appropriate type and amount of travel insurance coverage matching the requirements of the travelers and their itinerary. Clients who use a licensed travel insurance agency (like CM TRAVEL 4FUN) can be assured that they will have all of the coverage they need at the least cost.
Lesson #2: You get what you pay for!
The "cheapest" policy rarely provides adequate coverage. Even if the coverage types/amounts do seem correct in a policy... the fine print (that no one reads) may contain big holes in the actual coverage. "Bargain-priced" insurance provides less customer support, has difficult/complex claims procedures, and may be slow to pay claims.
Like all consumer products and services, travel insurance should be measured by its "value". Unfortunately, totay's travel consumer tends to measure all types of travel products primarily by cost, not value. "Bargain" priced travel insurance which does not protect a traveler well is only a serious inconvenience when the traveler ends up in a cheap hotel room that has bed bugs... but poor protection becomes a life or death issue when that same traveler needs emergency assistance - and their "bargain" travel insurance policy will not pay for it!
COST VERSES RISK AND BENEFITS:
The cost of a travel insurance policy must be carefully reflected against the risks involved and the benefits provided. The two examples below help explain the process:
- Example #1: A traveler's personal health insurance provides adequate coverage for the travel plan in question... thus the only concerns are about insuring against the cost of the trip itself. Thus the policy the traveler would seek to purchase should primarily focus on the trip cost coverage... not medical coverage. In this scenario, the cost of the policy should be carefully weighed against the trip cost and risks... if the available insurance policy premiums are high relative to the possible risks and the covered trip cost, then the traveler would probably be wise to self-insure. If the policy premium seems reasonable verses the amount of risk and trip cost coverage provided, then the traveler should purchase the policy.
- Example #2: If medical and emergency medical evacuation coverage is of high concern for the traveler, then the only real question becomes which policy option provides the best overall package of coverage containing the medical and emergency evacuation coverage required. In this case, choosing to not purchase the travel insurance... is not an option. Determining the best coverage value received verses the policy premium paid... is the relevant factor in making this purchase, (coverage is the determining factor, with cost becoming secondary).
LESSON #3: Travelers should focus on value - not simply cost.
How can a traveler determine what is good "value" when they purchase a travel insurance policy?
APPLES AND ORANGES:
First - go back to Lesson #1 above. For the vast majority of travelers, each trip they plan will involve different travelers going to different destinations. This means that every time a traveler plans a trip, then s/he (or their professional travel insurance agent) should determine insurance coverage requirements based upon the traveler(s) involved and their specific itinerary. If the travel insurance coverage purchased does not match the trip coverage requirements, then the policy can not possibly have good "value"!
THE GOOD, THE BAD, AND THE UGLY:
Next... the traveler (or their agent) must determine which insurance provider(s) offer the type of policy and coverage limits that the traveler requires, then verify those companies will reliably take care of the traveler in the event of a claim. For this determination we can rely (in part) on A. M. Best... which is a highly respected insurance company rating organization. Companies rated "A-" or better by A. M. Best are considered reliable, and companies having ratings "A" or above are the preferred choice - when available. A policy purchased from a well-rated company that pays claims well - will always have more "value" than a policy provided by a poorly-rated company.
WARNING, WARNING, WILL ROGERS!
A large percentage of travel insurance providers are not rated companies, (by A. M. Best or anyone else). Many travel agencies, tour companies, and even some cruise lines sell travel insurance without an insurance license, (a vendor license is required to sell travel insurance in some, (but not all), states). Worse yet... in nearly all states... any individual can legally sell travel insurance to another person - without any type of license or seller's permit what-so-ever! The result - as one might expect... is a fair amount of fraud, many poor quality and/or poorly designed policies resulting in unpaid claims, (and in some cases financially ruined travelers who... in their hour of need, discovered their travel insurance coverage or company was not there for them).
Thus it is buyer beware... it is possible for a traveler to purchase a policy from a well-rated company from a non-professional agent who provides incorrect coverage types or limits - or be sold a policy provided by a poorly-rated company from an unethical agent!
ABOUT CONTRACTED TRAVEL SERVICE PROVIDERS:
And there is more: Beyond the company... who the traveler purchases travel insurance from is important for another reason. Travel insurance purchased through a vendor that provides all or part of the travel services for which the traveler has purchased insurance coverage... may have little or no "value". In these scenarios, travelers may find that their insurance claims will be only be paid if said claims meet specific vendor standards and/or the claims are approved by their travel service provider, (These types of limitaitons are defined in many travel vendor service contracts that most travelers sign and apporve of - without having read the contract).
- Example: If a traveler purchases travel insurance through many cruise line companies, then while on the cruise ship, the traveler's ability to use their travel insurance is subject to all of the limitations and controls defined in the cruise contract - meaning... the cruise line can optionally choose to not pay and/or can limit execution of any coverage for claims which occur on ship, (in effect, making coverage optional!). A number of tour companies have similar contract limits. Any travel service provider suggesting travelers should purchase travel insurance from them as well - should be ignored. Never purchase travel insurance from a vendor with whom you have signed a contract to provide a travel service, (like tour companies and cruise lines).
WHAT DO "THEY" KNOW?
The last determinant of value that a traveler should consider carefully... is the person selling the travel insurance. While it is true that there are some real crooks out there, the primary problem is that most travel insurance policies are sold by travel agents, tour operators and other individuals who have little or no training in the field of travel insurance. Hence these folks may not have a clue about what they are selling! Worse... a large percentage of agents, tour operators, and cruise lines sell policies based upon a single determining factor - the amount of commission that the insurance provider will pay them for each policy sold! I will let you guess which types of insurance companies pay the highest commissions!
THE ANSWER:
In closing... in order to make an intelligent "value-based" travel insurance purchase, a traveler must understand what coverage they need, determine which companies selling that coverage are reliable, and carefully consider the individuals and/or companies who are available to buy insurance from. The easiest solution to this riddle is to purchase travel insurance from a verifiable fully licensed professional travel insurance agency, (like CM TRAVEL 4FUN).
FAQ:
1. What about business professionals and others who travel a lot? Are there low-cost travel insurance policies designed just for Frequent-Travelers?
YES! If you are a Frequent Leisure Traveler or a Business Traveler... then you may wish to consider a Single-pay Annual Travel Insurance Policy. These policies typically incude a broad range of coverage which automatically protects travelers 24/7 for a full year at a very low annual cost. Many of these policies are not age-rated - a feature that is especially attractive for older travelers and business owners who wish to insure employees who travel. Most of these annual policies provide car rental loss/damage protection - a feature that can save business travelers enough to offset the entire policy premium cost for the year! Learn more about all the coverage provided by a single-pay annual policy here:
ALL-ABOUT SINGLE-PAY ANNUAL TRAVEL INSURANCE POLICIES
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2. How can I arrange Travel Insurance for Groups?
This is best done through a professional travel insurance agent ONLY.
First, let's define a group. A group is commonly defined by travel insurance companies as consisting 6 or more people... meaning at least 6 people must pay premiums on a single policy to qualify for group insurance.
Although group insurance can be booked on some retail online insurance company sites... this is strongly discouraged for a list of reasons including... serious potential financial and personal liability issues for the arranger, (plus all of the concerns regarding travel insurance discussed above).
Follow this link to learn more: GROUP TRAVEL INSURANCE
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3. Ok... I have read enough - clearly I will need assistance in procuring the correct type and amount of travel insurance coverage that I need. Who do I contact to have a travel insurance plan created by a travel insurance professional to address my specific travel needs?
CONTACT Neal Kellner at CM TRAVEL 4FUN ...he will be pleased to have the opportunity to arrange your travel insurance.
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4. What about costs? Do the professional travel insurance services provided by CM TRAVEL 4FUN cost more, (than if I did it myself)?
In a word: No! When a professional creates a policy for your travel needs... you pay only for the coverage you need without spending extra for coverage not required. A professionally designed policy provides great protection without wasting premium dollars.
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5. I wish to arrange my own insurance at this time, can you direct me to a high quality travel insurance vendor so I can self-arrange my own travel insurance?
YES... of course! CM TRAVEL 4FUN understands that for a variety of reasons... some clients may wish to arrange some (or all) of their own travel plan. With this in mind, CM TRAVEL 4FUN has researched and carefully vetted a list of retail online travel vendors who reliably provide great service at an excellent price.
To arrange your own travel insurance, visit the CM TRAVEL 4FUN's Online Self-booking Web Page... here you will find a link to a high quality A. M. Best Rated "A+" insurance company: TRAVELEX Insurance. Just click the link below to get started.
SELF-BOOK INSURANCE HERE
More information about travel insurance...
(for those who wish to learn more about travel insurance after reading: "TRAVEL INSURANCE, A Primer")
Details for the seriously "Insurance Curious"
Only a professional travel agent who understands both travel and insurance - and the relationship between each... can reliably provide travelers with the right kind (and appropriate amount) of travel insurance coverage - which matches specific travel needs.
Neal @ CM TRAVEL 4FUN is one of the few Licensed Travel Agents in the State of Washington who is also a licensed Travel Insurance Agent.
CM TRAVEL 4FUN WASHINGTON STATE SELLER OF TRAVEL BUSINESS LICENSE: UBID# 602722791
CM TRAVEL 4FUN WASHINGTON STATE Insurance License: # 762046
CM TRAVEL 4FUN WASHINGTON STATE BUSINESS LICENSE: UBID# 602722791
CM TRAVEL 4FUN WASHINGTON STATE Insurance License: # 762046
CM TRAVEL 4FUN IATA ID # 5061-0840 CM TRAVEL 4FUN is a Kitsap County Washington based full service travel agency. CM TRAVEL 4FUN provides live agent direct travel services to residents of the following Puget Sound Region communities: Bainbridge island, Poulsbo, Indianola, Kingston, Hansville, Port Gamble, Silverdale, Bremerton, Seabeck, Port Orchard, Port Ludlow, Port Hadlock, Seattle, Tacoma, Edmonds, and Gig Harbor. CM TRAVEL 4FUN provides full service remote virtual live agent services to residents of all 50 States. The contents and the design of this web page, (and all other CM TRAVEL 4FUN web pages), are protected under applicable copyright... 2006, 2007, 2008, 2009, 2010, and/or 2011
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