What are the Benefits of Travel Insurance?
Most of the time, we are reluctant to think that anything will go wrong. But the “Law of Averages” are bound to catch up to us, particularly if you travel frequently. It is a simple fact that when we travel we increase the chances of something not going as planned. And the best way to minimize the damage is to “be prepared” for the unexpected.
If I can borrow a line for the hit TV show “Big Brother”… You should “Expect the Unexpected”, when traveling. And a really smart way to do that is to purchase Travel Insurance prior to departing for your trip. As always BTG is here to help with an explanation of the benefits of travel insurance, how it works and what it might cost.
In this article we will look at the Top 5 Travel Insurance Companies, learn what separates one for another and give you as much information as we can to help you make an informed business travel insurance decision.
How does Travel Insurance Work?
I’m going to assume that we don’t need a full tutorial on the inner workings of insurance in general, so we will focus on the benefits that Travel Insurance specially can provide for you. The following is a partial, but comprehensive list of the potential benefits offered by most travel insurance companies. As you know, there is an insurance for anything if the price is right, so providing a complete list may be next to impossible, but here’s an awesome start:
Complete Travel Cancellation: Remember from above, preparing for the unexpected must include the possibility that your trip will need to be canceled for unplanned life events.
Consider what might happen if your basement floods or a family member takes ill and needs your care. These are unpleasant thoughts for sure, but would certainly require your undivided attention and a business trip may need to be rescheduled or canceled as a result.
In this situation, Travel Insurance could help to recover your out-of-pocket expenses with Trip Cancellation Coverage.
Flight Cancellations: Trip interruption Coverage
Miss a Connecting Flight:
You get sick or injured on your trip
Lost or Delayed Luggage or Equipment
Your travel company files bankruptcy
Lost passport or travel documents
Emergency medical evacuation
You need emergency assistance services