Why Do You Need Travel Insurance Protection?

At Covington, we believe that travel insurance is a great value that helps protect you and your trip investment. Now, more than ever, it is important to think about the unexpected. Consider travel protection for Trip Cancellation, Trip Interruption, Emergency Medical, Emergency Evacuation, Trip Delay, and Baggage Delay. Policies can be customized to include the type of coverage you need for one day to one year.

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How Can Travel Insurance Save You Money?

Unplanned events happen, and they can derail a vacation, leaving you with additional expenses or the loss of non-refundable payments. When the unforeseen happens, travelers who bought an insurance policy claim it’s the best investment they ever made. Those who didn’t are likely to suffer losses much greater than the cost of coverage.

What Can Travel Insurance Cover?

Travel Delay

When flights are disrupted due to major weather events or natural disasters, an unplanned hotel stay or additional meals is an extra expense. Even if your destination is unaffected, but you can’t get there because of the weather, your policy may reimburse your non-refundable cruise or resort stay.

Cancel for Any Reason

Life is unpredictable. That’s why the Cancel For Any Reason upgrade is a great option for those who aren’t 100% certain they will be able to leave on the trip they’ve planned. The Cancel For Any Reason upgrade is available on the Travelex Ultimate and Allianz Classic Plan to offer you the benefit of flexibility when it comes to your travel plans.

Medical Emergencies

Unexpected injury or illness is often a major expense. Your healthcare plan may not cover the cost of a medical emergency when traveling abroad. Travel insurance helps you find appropriate medical care while you are traveling and may offer reimbursement for a doctor’s visit, hospital bills, and prescription drugs. Furthermore, should you need a medical flight evacuation, the cost can be as much as $100,000, but travel insurance may cover that, too.

Baggage Loss or Delay

If your luggage is lost, stolen, or delayed anytime during your trip, having baggage coverage could help so you don’t have to go without a swimsuit or other essentials you packed. You purchase replacements (each policy has a dollar limit) and save the receipts for reimbursement after your trip.

Is Primary Medical Insurance Important?

Experiencing a medical emergency can be scary and expensive – even more so when you are away from home. Primary medical coverage is much simpler and faster to manage in the event of a claim because it reimburses eligible medical expenses before any other policy, such as your own healthcare plan.

Secondary medical coverage policies require you to exhaust all other benefits – including paying the deductible – before you file a claim for reimbursement at some later date. You may even need to show proof of the other benefits’ disbursement before you can file a claim. That delay creates an added strain on an already difficult situation.

How Much Does Travel Insurance Cost?

The cost of travel coverage varies depending on your age, the cost of your travel arrangements, and the length of your trip. According to the Insurance Information Institute, it generally runs about 5% to 7% of the price of the vacation. So a $5,000 trip would cost roughly $250 to $350 to insure.

Learn More About Travel Insurance

• Travel Insurance 101 – A travel Insurance policy can limit travelers’ financial loss and gives them extra confidence when an unforeseen event blindsides travel plans.
• 7 Proven Reasons Why Millennials Need Travel Insurance – Millennials’ travel styles and life stages make travel insurance a wise choice that can save the day in high-stakes and high-stress travel situations.
• Five Reasons NOT to Buy Travel Insurance – We’ve heard them all before – reasons not to buy travel insurance. But we know differently. See true examples of why it’s so important.