Travel Insurance

Travel Insurance May Not Cover What You Think It Does

Travel insurance is an invaluable tool for protecting an investment in a trip or vacation.  There are many options available in the marketplace offering different types of coverage.  Navigating the options can be overwhelming as not all travel insurance policies allow you to cancel for any reason.  The Better Business Bureau offers the following tips to help you find the coverage that best suits your needs.

Understand the purpose of travel insurance. Travel insurance is designed to help with unexpected events, not foreseeable issues.  For example, once a hurricane is forecasted it becomes a “known event” and policies purchased after this date may not cover related cancellations.

Review policy specifics.  Policies can vary significantly.  Before purchasing or attempting to file a claim, review what the policy does and doesn’t cover.  Contact the insurance company directly if you have questions.

Read the fine print.  If you have Cancel For Any Reason (CFAR) coverage, verify the specific terms of the benefits before filing a claim.  Understanding the policy wording is crucial to ensure you know what’s covered.

Maintain flexibility in your plans.  Be prepared for changes in dates, times and arrangements.  Flexibility can help you easily adapt to unexpected events.

Information provided by the Better Business Bureau of Wisconsin.