Purchasing travel insurance is a great way to protect yourself from unexpected problems before or during a vacation. It’s a relatively low cost, hassle-free expense that we highly recommend you build into your budget.
What is Travel Insurance?
Travel insurance offers financial protection and reimbursement for problems that arise before or during a vacation. It can cover a wide variety of potential problems, especially if you become sick or injured between booking the trip and your departure date.
Travel insurance can reimburse you for last minute trip cancellations, travel delays, or medical issues, including:
- Prepaid, non-refundable trip costs including vacation rentals, car rentals, hotels and flights if you have to cancel for a covered reason
- Eligible meals, accommodation and transportation expenses during a covered delay
- Care following a covered medical emergency while traveling
Prices for basic coverage, trip cancellation and emergency medical, typically hover around 10 percent of a trip’s total price. More specialized coverage, like for a particular mode of transportation or incident, can cost significantly more.
Coverage varies depending on the company you book with and the plan you choose. COVID-19 coverage varies by provider and coverage may change and evolve during the active pandemic. Certain pre-existing conditions are NOT covered, so it’s best to speak to a representative about your unique case about conditions that could impact your ability to travel.
Before you purchase travel insurance, determine if your existing health and homeowner or renter’s insurance plan will cover you on your trip.
Many health insurers will cover medical emergencies, and many homeowner or renter’s insurance policies will pay for damage, theft, or loss of personal items. You may also be covered in certain cases by your credit card company. If you have a credit card with a yearly fee, you likely do have some protection. Call your provider to find out!
1. Popular Travel Insurance Inclusions
YMT works with Allianz, who both the New York Times and Forbes have written about extensively. Here are some of Allianz’s most popular inclusions, with breakdowns. not related to COVID (COVID-specific information can be found at the end of this article) of what is covered:
2. Last Minute Trip Cancellations
Reimburses your prepaid, non-refundable trip expenses if you must cancel your trip due to a covered reason. This coverage is particularly valuable, as it covers a lot of potentially very costly expenses, and provides peace of mind in case you get injured before your trip, your destination or home are rendered uninhabitable by a natural disaster, or someone in your family falls ill.
3. Unexpected Trip Interruptions
Reimburses the unused, non-refundable portion of your trip expenses and the increased transportation costs it takes you to continue your trip or return home if you need to interrupt your trip for a covered reason. This coverage saves you money if you need to go home early or stay at a destination longer than you planned.
4. Emergency Medical and Dental Coverage
This primary coverage provides reimbursement for covered expenses incurred during your trip due to covered medical and dental emergencies. Nobody wants to get a root canal when they’re trying to enjoy the Scottish moors, but it’s nice to know it’s covered if you need it.
5. Emergency Transportation: Land and Air
Provides coverage for medically necessary transportation to the nearest appropriate facility following a covered illness or injury during your trip. This inclusion also covers the cost of your transportation back home following a covered illness or injury.
6. Most Common: Travel Delays
Reimburses up to $300 per day per person for additional travel and lost prepaid expenses if your trip is delayed for five or more hours for a covered reason. Can also reimburse additional transportation expenses if you miss your cruise or tour because of a covered delay.
7. Your Baggage Becomes Lost/Damaged
Covers lost, damage, or theft of baggage and personal effects. It’s important to keep track of what you packed so that you can give a detailed description of what you lost when you make a claim.
8. Inconvenient Baggage Delays
Reimburses the reasonable additional purchase of essential items during your trip if your baggage is delayed or misdirected by a common carrier for 12 hours or more. Receipts for emergency purchases are required.
COVID-19 coverage is included when you buy Allianz travel insurance through YMT Vacations. It includes:
- Emergency medical care if you become ill with COVID-19 while on your trip
- Trip cancellation and trip interruption if you become ill with COVID-19 either before or during your trip
For more information on COVID-19, please visit the World Health Organization or consult your medical professional.
Learn More About Travel Insurance through Allianz for Your Next YMT Vacation
Travel insurance is a great resource if for no other reason than that it provides tremendous peace of mind. It’s one of the most important decisions (right between “where should I go?” and “what should I wear?”) you’ll make as a savvy traveler, whether you purchase it from a designated provider or you enjoy it as a perk through your credit card. If you decide to sign up for a plan through Allianz for a YMT journey, we’ll be happy to help. You can even start your quote from home!
To join one of our exciting journeys, call your travel consultant or YMT Vacations at 1-888-756-9072.