SMYRNA, Ga. – A massive oil spill, airline strikes, volcanic ash. They can spell disaster for travel plans.
But some experts suggest travelers invest in travel insurance to ensure that canceled travel plans don’t guarantee lost money.
“Plain and simple, travel insurance is peace of mind,” Jim Grace, president and CEO of InsureMyTrip.com, said in a news release. “It’s knowing that if or when the unexpected happens, from (canceled) and delayed flights to missed cruise connections, someone’s got your back.”
According to Georgia Insurance Commissioner John Oxendine, travel insurance can help protect travelers from losing out on non-refundable travel costs – i.e. airfare and hotel expenses. In addition, some travel insurance helps protect against losses stemming from medical emergencies, damage to personal property and, in extreme cases, death.
“Whether your family is headed to the gulf coast or overseas, travel insurance can protect against possible financial losses if you are forced to cancel, delay or interrupt your vacation,” Oxendine said in a news release.
According to a recent report in The Los Angeles Times, travelers should expect to pay between 4 and 8 percent of their trip’s costs for travel insurance. Experts also note it is important for travelers to read the fine print so they firmly understand what their policy covers.
“Keeping consumers apprised of any changes and developments in coverage is key,” Grace added. “We understand that even in the best of times, travel insurance can seem complicated. Now more than ever, it’s important for consumers to contact us for a clear and full explanation of benefits as well as insurance information updates for new and ongoing global events.”