In rare instances it's a good deal, but it often duplicates existing coverage
Planning to go trekking in the Himalayas? Or maybe take a little cruise down to Mexico? Before you head for the hills, it’s a good idea to make sure you have enough insurance coverage.
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Travel insurance is becoming increasingly popular, but in many cases it simply duplicates coverage you already have.
The following tips can help you determine what kind of travel coverage, if any, is right for you.
1. Familiarize yourself with what’s out there. Travel insurance can include trip cancellation, trip interruption, accidental death or dismemberment, medical and dental care, transportation to medical facilities, loss of luggage or personal possessions and protection against the bankruptcy or default of your cruise line or tour operator.
Determine whether you’re already covered. Many homeowners’ and renters’ policies provide coverage for theft and other losses away from home. Your medical and auto insurance may be valid in other countries. Your life insurance policy should cover you and your family while you travel. And airlines must reimburse you if they lose your bags.
3. Remember your credit cards and auto club membership. Check to see what travel protection you have from those little plastic cards in your wallet. The American Express Platinum Card is especially good about giving generous accidental death and dismemberment coverage, insurance for car rental loss and damage, and extra lost baggage protection.
4. Buy through a third-party insurer. Travel agents, tour operators and cruise lines sell travel insurance, but your safest bet is to obtain coverage through an established insurance company. This way your coverage won’t go up in smoke if your travel company goes bankrupt. You can compare rates at InsureMyTrip.com.