NEW YORK, April 6, 2016 — Travel insurance can’t prevent bad things from happening on a vacation, but it may be able to protect your financial investment, according to the Insurance Information Institute (I.I.I.).
“For many consumers worried that an extreme weather event or political unrest might affect their vacation plans, travel insurance can provide useful coverage,” said Jeanne M. Salvatore, the I.I.I.’s chief communications officer. “But it’s important to understand exactly what it covers and when it makes sense to purchase it.”
Asking some key questions can help determine whether you should consider purchasing travel insurance:
- If I had to cancel my vacation, would I lose the money I paid in advance?
- Is there a chance severe weather or other events could interrupt my vacation?
- If the tour operator were to go bankrupt, would I receive a refund?
- Is there a chance I might get injured because I’m planning an active vacation (biking, hiking, sailing)?
- Will I be traveling with small children or older relatives who might have special needs?
- Might I need special assistance while on vacation such as an English speaking doctor or dentist?
If the answer to any of these questions is “yes,” you may be a candidate for travel insurance.