If you buy a vacation package, you may be offered vacation package insurance. Is it wise to rely on the built-in travel insurance offered in these packages?
Sometimes vacation package travel insurance is adequate, sometimes it’s not. The difference is important to your financial well-being.
Some holiday package travel insurance is not really insurance it’s a trip-cancellation waiver. This lets you cancel your trip for any reason and get a refund–partial or full. However, sometimes the money you get back is not money at all it’s a credit toward the purchase of another vacation package with that operator.
You can tell if it’s a trip cancellation waiver by the low price, usually around $50.00 to $75.00 per person. At that price, the ability to cancel your trip is the only benefit you will receive. If you actually take the trip, you will have no medical or other insurance associated with it.
Some built-in travel package insurance IS travel insurance. You must read the policy carefully, especially the fine print, to find out for sure. Please also be aware that most travel supplier-issued policies offer no protection if the supplier goes bankrupt. Since travel supplier insolvency occurs all too frequently, it’s a good idea to get your travel insurance and the cancellation waiver from another supplier. That way you avoid the danger of having “too many eggs in one basket”, so to speak.
To research travel insurance online from reliable online travel insurance companies, find travel insurance policies, get quotes, compare the policies and the quotes, and to buy travel insurance online, visit our Online Travel Insurance Companies pages.
Get the insurance you need, and then enjoy your trip!