words Al Woods
A big vacation is a big deal. You have a lot of things on your to-do list. Likely missing from that list is a consultation with an insurance professional. It is not the most obvious thing you need to do. When making preparations, you start by figuring out where it is you want to go. Once everyone agrees on that, there is a matter of sourcing the plane tickets. Finding the lowest fare for the time you want to travel is still challenging. Before making your bid, try calling the airlines directly. They always have unadvertised deals if you are willing to dig a little deeper.
Immediately after securing your travel arrangements, you are going to need to make arrangements for accommodations. These days, not every hotel is open and accepting guests. Many will have restrictions on the number of guests at a given party. Making accommodations for an entire family have gotten a lot more complicated since recent events. Because these two things are very time-specific, you have to deal with them as early as possible and lock in the dates. There are a whole plethora of things that follow. But among that plethora needs to be a conversation with an insurance specialist. Here’s why:
Life Insurance
If you have no life insurance or a term life policy that is about to expire, you will need to make sure you are covered during your travels. You need to know answers to question like the following:
- What does life insurance cover?
- What is the difference between whole life and term life?
- Could your insurance purchased in one country be negatively affected by the laws in another country?
Insurance is one of those services that is deceptively complicated. It seems easy on the surface. And that false impression could land you in a lot of trouble if you don’t consult a professional.
People often have a false sense of invulnerability when vacationing because it is a happy time when you are getting away from it all and focusing only on happy things. No one wants to ruin their vacation by thinking about morbidity. But if you are planning to do a lot of driving or riding tour buses, you might want to know that transportation-related accidents are the primary causes of death for American travelers abroad. Updating your life insurance policy is a prudent course of action.
Travel Insurance
Due to the current circumstances, it is wise to book your vacation as far in advance as possible. That said, there is a major downside. Your unforgettable vacation plans might have to change at the last minute. As a result, you could be out of thousands with no recourse. That is when you learn about the travel insurance that you should have purchased. Not all fares are refundable. How do you think you got such a low fare? The same is true for accommodations and car rentals.
Never assume, always ask. You can often purchase trip insurance from the airline. Some companies specialize in travel insurance. It can be a real-life-saver in uncertain times. The further you book ahead, the more opportunities there are for things to come up that require you to reschedule or outright cancel. Travel insurance can cover more than last-minute cancellations. It can also help you recover from little things like delayed or lost baggage, medical emergencies, and more. Talk to a professional and don’t leave home without some type of travel-specific protection.
Auto Insurance
Don’t assume that the coverage you have at home is sufficient for driving abroad. You need to check with your auto insurance agent to be sure you are covered for the place where you are going. Remember, you will be subject to a different legal system. The rules of the road will be different in more ways than the side of the road on which you drive. Be sure your liability insurance can handle whatever is thrown at it.
No one ever thinks to pack insurance with them on a trip where all is magical and nothing bad could possibly happen. But before heading off to Wonderland, talk to someone about life insurance, travel insurance, and increased auto insurance.