Whether you’ve been planning your vacation for months, or it’s a spur of the moment getaway, you’re going to make sure you have everything you need. From toiletries to the itinerary, you have everything covered.
Have you added insurance to your pre-departure checklist? We’ve made a list of some of the top coverage options you should purchase before heading out.
No one plans on getting sick or injured while travelling, but unfortunately, it can happen. Whether it’s from contaminated water, improperly cooked food, coming into contact with a foreign disease, or your body simply being tired and run down, there is a chance of getting some kind of sickness.
Make sure you have proper medical coverage before you leave home. Especially if you are visiting another country, your current medical coverage at home may not cut it. If you were to become severely ill or sustain an injury that required hospital care, you may end up with a hefty medical bill. So save yourself any stress and purchase either new or add-on medical coverage that is contains protection for travellers.
Cancellation or Interruption Coverage
Picture this: it’s only a few days before you leave for the trip of a lifetime with your family. The bags are almost packed, flights and hotel are confirmed. But all of a sudden someone becomes seriously ill, or there is a death in the family. You have to cancel the trip. Did you buy cancellation insurance that would reimburse you for all the money you spent?
The same thing goes for interruption insurance. If you are in the middle of your vacation and a situation beyond your control occurs which causes you to head home early, interruption coverage would reimburse you.
Purchasing cancellation and interruption insurances can be worth the extra money, especially considering how much you have already paid ahead of time for your vacation. You don’t plan on cancelling your holiday, but sometimes you can’t control it. Rest easy by ensuring reimbursement in case something suddenly changes.
Are you going to a place where you’ll need a rental vehicle? Don’t say no to the insurance option. Unless you have travelled to your destination numerous occasions or are a citizen there, do you really know what traffic is like?
This type of protection covers situations like car theft (your personal belongings included), damage, whether caused by you or another vehicle, and possibly injuries due to an accident. With the cost of car repairs being what they are, would you want to be solely responsible for the price of a collision in a rental car?
Check to see if your existing vehicle insurance is usable or your credit card insurance, if you used the card to purchase the rental vehicle. If not, there are many car rental companies that provide rental protection.
One of the most significant types of insurance you can buy is life insurance. This is coverage on your life through which your beneficiary would receive monetary support in the form of a death benefit. If you were to suddenly die while on vacation (or even at home for that matter), your life insurance policy can provide financial protection for your loved ones.
Life insurance is there to help cover the costs of your sudden death. Whether that’s funeral costs, living expenses left behind, debt, or covering the loss of income, your policy is meant to give financial support to your family. So consider purchasing life insurance to help protect those you love from the sudden loss of your income.
Don’t leave your long-awaited family vacation up to chance. Make sure it will be a successful and healthy trip of a lifetime by purchasing the proper types of insurance ahead of time.
Rachel Slifka is a freelance writer and human resources professional. She is passionate about helping fellow millennials find success with their finances and careers. Read more by checking out her website at RachelSlifka.com.