| Choosing the Right Insurance to Fit Your 2007 Travel Needs |
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| Written by ARAcontent | |
| Sunday, 22 July 2007 | |
 (ARA) - When planning explorations domestically or around the globe this year, the last thing most travelers want to worry about are possible travel hiccups. From minor annoyances like lost luggage or serious problems such as a medical emergency or catastrophic weather event, travel insurance can help relieve stress for frequent travelers and protect the investment on a once-in-a-lifetime trip. While looking ahead at travel plans for 2007, be sure to consider what the right travel insurance policy is for which situation, and when the right time is to purchase coverage. Travel insurance can come in many different forms. The two most common are traditional per-trip coverage and annual policies that cover every trip for a year. Policies also have varying coverage limits. Some may not cover lost luggage, medical evacuation or expenses from delayed or cancelled flights. Assessing whether to purchase per-trip or annual coverage should be the first step in a traveler’s decision-making process. While each policy is different, a per-trip policy usually covers the basics for an individual trip. Typical coverages include trip cancellation, major medical emergency and lost or stolen items. Traditional travel insurance products usually only cover critical care situations limited to an emergency need or catastrophic events. An annual travel insurance policy is typically much more comprehensive and is great for frequent business and/or adventure travelers. For example, if the traveler is planning more than two trips for the calendar year, an annual policy might be the best fit. Also, as most annual policies are more comprehensive than basic per-trip coverage, travelers planning to go abroad to developing countries may want to choose this option to ensure access to western medical care in the event of a medical emergency. “At Fireman’s Fund Insurance Company, we realize that frequent travelers have unique needs,” said Lisa Williams, sr. director, personal insurance, Fireman’s Fund. “In order to better suit world-class travelers and their families, Fireman’s Fund created Prestige Destinations annual coverage, a comprehensive policy that provides travelers with international access to emergency medical care, travel investment protection as well as the convenience of toll-free concierge service.” A good rule of thumb is that infrequent or sporadic travelers should consider per-trip insurance and frequent travelers or families who travel internationally should consider an annual policy; however, there are many other factors to think about. Key points to consider before purchasing a policy in 2007: * Do you have the right policy for your specific travel requirements? Decide if a per-trip policy or an annual policy is right for you, and then research multiple carriers before committing. It is important to purchase the policy that best fits your individual needs. Consider not just the cost of the insurance, but which policy will give you the most peace of mind. * Are you comfortable buying from a company you’re not familiar with or would you prefer the service and ease of working with the insurance agent who handles your other insurance needs? * Does the coverage include emergency transportation services? Various insurance policies include the use of a service such as World Access, available through Fireman’s Fund® Prestige Destinationssm. World Access, an Allianz company, is a recognized international leader in travel assistance that can coordinate emergency medical transportation and communication of critical travel-related information worldwide. * Does your trip policy meet your limits? Often times frequent year-round travelers need an enhanced product with higher limits for both trip interruptions and trip cancellations. For example, if your luggage is lost after you’ve made expensive purchases abroad, a standard policy may not fully cover your loss. * Is there a toll-free number to access all manner of services? Some policies will not just protect your trip but also enhance it. The Fireman’s Fund Prestige Destinations’ concierge service allows policyholders to call for counsel on locating galleries featuring a favorite artist, packing and shipping newly purchased art or valuables, ticket acquisition for events and advice on booking the best guides for touring. * Is terrorism coverage included? Terrorism coverage typically reimburses for most travel delays, trip interruptions or trip cancellations that are caused by terrorist attack. Similar coverage may apply in the event of a natural disaster. * Does your coverage include all family members and/or domestic partner in the same household? This is especially important for parents with children traveling or studying abroad. There are many pitfalls that can potentially arise while traveling. By doing the appropriate research and carefully selecting the right policy, hassles and drama can be easily mitigated throughout any 2007 travel adventures. Courtesy of ARAcontent |
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