Travel insurance can be a real life saver when booking a vacation!
When booking a vacation, there can be so many unknown factors that can cause major headaches, such as flight delays and cancellations, sickness, injuries, overbooked car rentals, and so much more. Travel insurance can be a real lifesaver when booking big and expensive vacations. However, you must find the right travel insurance that best fits you and your trip. Coverage options range from purchasing insurance solely for one element, such as flight or medical, to comprehensive plans that include a wide range of issues. Stan Sandberg, co-founder, and co-CEO of TravelInsurance.com, states that premiums typically range from 4-10% of your overall trip; for example, if your trip costs $5,000, it could cost around $500 to insure.
In this new era of COVID-19, most travel insurance companies have a policy in place for this. If you test positive, your result and test must come from an official lab and doctor and be approved by the travel insurance company. If you test positive before traveling, your insurance should cover your trip’s postponement or cancellation. If you test positive during your trip or while traveling, trip interruption coverage will reimburse you for unused prepaid costs. If you must quarantine, trip delay coverage will cover any additional expenses such as meals and hotels. If you are traveling out of the country, I recommend splurging on a cancel for any reason policy, which typically costs 40-70% more than standard travel insurance plans and will cover only up to 75% of your overall trip expenses. If you travel to another country and it closes its borders due to the pandemic, you will not be covered unless you purchase the cancel for any reason policy. You may be thinking, “it covers only 75%?” but it may be the best bang for your buck if you are worried about the uncertainty of COVID-19 policies and outbreaks.
Here at Waikoloa Vacation Rentals, we offer our guests an optional travel insurance that primarily covers everyone in their party from illness, injury, or a death in the family and costs around 7% of your overall reservation total. Click here to view our travel insurance. Our guests are given until their final payment date, 60 days prior to their arrival date, to add the travel insurance. But if our travel insurance option does not work for you, companies such as Insure My Trip, Squaremouth, and TravelInsurance.com can compare dozens of policies based on your needs. Companies such as these have a grace period of 10-14 days for you to review the fine print and back out of the contract without penalty if it does not suit your needs. It is essential to read the fine print as some policies will deny coverage for specific reasons such as war or civil unrest at your destination or preexisting medical conditions.