Are you insured on vacation?
After spending a good amount of money and time planning your ideal trip you might be thinking of purchasing travel insurance. But, you might already be covered.
“Homeowners insurance, renters insurance, auto insurance and medical insurance follows you on vacation,” says Ellsworth Buck, Vice President of GreatFlorida Insurance, Florida’s leading independent homeowners insurance provider. That includes; rental cars, illness, stolen items, lost luggage, accidental injuries and property damage. Before you buy travel insurance, check your policy and see what is currently covered. You want to avoid paying for insurance coverage beyond what is necessary.
Your current health insurance policy could provide adequate coverage on your travels. Check coverage in the area you are headed. You might be surprised to find doctors and facilities that accept your health insurance even overseas. The U.S. Department of State urges international travelers to make sure they have health insurance where they are traveling. Many foreign doctors and hospitals require cash payment and emergency medical evacuation can cost up to $100,000. Also, Medicare is not available outside of the country.
While illness is covered during your travels, a pre-existing medical condition might not be. This is a detail you will need to review with your insurance agent.
Lost or stolen items
It is a pain to arrive at your destination without your luggage. The U.S. Department of Transportation limits lost baggage claims to $3300. Keep in mind, airlines account for depreciation of your stuff so if you are traveling with golf clubs or pricey camera equipment you might want to make sure your luggage is covered. Stolen items and lost luggage are reimbursed under your homeowners insurance and renters insurance policy.
One of the most common misconceptions about travel insurance is the idea that you can cancel for any reason and be reimbursed. Travel insurance will reimburse you on a majority but not all expenses. Like other insurance policies, the amount you pay for travel insurance will depend on a few variables. The type of coverage you choose, how many people are traveling in your party, age, destination and the length of travel. You can expect to pay 5 to 15 percent of the cost of our trip. The deductible amount is usually $200.
Make sure you are not paying for insurance you already own. Check out your current health insurance, auto insurance, renters insurance and homeowners insurance policy to see how much you are covered for while on vacation.
Contact GreatFlorida Insurance for all your insurance needs today.