Annual Travel Insurance

Who Needs Annual Travel Insurance?

Anyone who travels abroad should have insurance. Most of our existing coverage is meaningless once we leave our national boundaries. No matter how carefully we plan our trip, emergencies can and do happen. From the merely annoying to the truly catastrophic, travel-related problems are far more common than any of us would like. What's more, even the most basic emergency is difficult to handle in a foreign land.

Even if your travels only take you to other states, annual travel insurance should be considered. While you may not require travel medical insurance for domestic journeys, you could still benefit from airfare protection. Luggage mix-ups and delayed or cancelled flights are just as likely on domestic flights as on overseas excursions.

If you travel infrequently, single trip coverage should suffice. However, if you find yourself traveling more than twice a year, an annual policy could save you time, money, and aggravation.

Covered Situations

Travel raises a host of potential problems, but most can easily be covered under an insurance policy. Common travel-related problems include:

• Lost or stolen luggage
• Cancelled or delayed flights
• Traffic accidents
• Serious illness, injury, or death
• Lost, stolen, or misplaced medications
• Lost or stolen wallet
• Lost or stolen passport or identification
• Weather disaster
• Civil unrest, crime, or terrorism

All of these situations can cause significant frustration and financial loss. If you travel frequently, the potential for problems is multiplied. Specific coverage varies depending on the insurance company, the policy, and your needs. You will need to analyze your circumstances to determine your personal requirements.

Choosing a Provider

When comparing companies, look beyond price. While it is important to get a good rate for your insurance, it is more important to obtain adequate coverage. Your cheap insurance will start looking quite worthless if it leaves you in a lurch during a travel emergency. Ask the following questions of any company you are considering:

• What are your policies regarding cancelled flights?
• What protection do you offer in cases of terrorism or civil unrest?
• If my flight is delayed, changed, or cancelled, will you cover hotels or other accommodations?
• Will my children be covered on my policy?
• Does the coverage have an upper age limit?
• Which countries are covered under the policy?
• Are extended stays on foreign soil covered?
• How are emergency medical treatments and hospital stays handled?
• Is dental coverage included?
• Is emergency transportation covered?
• What is your procedure for filing claims?

Companies Offering Annual Travel Insurance

Most companies offering travel insurance also offer multiple trip coverage. In your search, consider the following:

• Travel Guard International
• Guardian Unlimited
• Columbus
• Access America
• Global Travel Insurance

Some companies offer comprehensive coverage, while others allow you to pick and choose only the needed components. Experiment to see which method works out to be most cost-effective. In some cases, the comprehensive policy is less expensive than insurance a la carte.