When to Buy Travel Protection…

You and your travel agent have been planning your vacation for several weeks.  You have come to a decision and are excited to be putting down that initial deposit.  You are done with travel planning for now, or are you?  One last thing that your travel agent should be talking to you about at this time is purchasing travel protection for your vacation.   You are probably not even thinking about travel protection, but I am here to tell you that you should be and this is the time to think HARD about it! 

The pressure of purchasing it right after you just put down a large deposit can be too much think about, and I am here to tell you, that is OK.  You don’t have to purchase the travel protection plan right away.  Most travel insurance companies allow you to purchase travel protection up to a certain number of days prior to departure of your vacation.  You will not receive time sensitive provisions, which we will discuss in a bit, but you will still receive good coverage.  My recommendation is that you make sure you have made up your mind to purchase travel protection before final payment of your trip is due.  At this point, you have had enough time to really think about the coverage you will receive and whether or not it is right for you and your family. 

Most travel insurance companies offer a few BONUS waivers or time sensitive provisions if you purchase travel protection within in so many days of your initial deposit on your vacation.  The most common two are:

  1. Pre-Existing Medical Condition Waiver.  What this typically means is that if you have had any medical conditions so many days prior to the effective date of your policy, then they would be waived and possibly considered a covered reason if you needed to cancel.  Some travel insurance companies are 60 days prior to the effective date and others are as far out at 180 days. 
  2. Supplier default or insolvency of a supplier such as an airline, cruise line, tour operator, or other travel supplier. 

You really are getting more coverage when you purchase your travel protection within the travel insurance companies requirements to get these time sensitive provisions.

Over 95% of my clients purchase some kind of travel protection to cover their vacation.  The next time you get ready to book your vacation, I HIGHLY recommend that you add the amount of travel protection into your budget.  It makes it a lot easier for you to make the decision to purchase it right away so you get the time sensitive provisions, and you don’t feel that it is an added expense.  A good rule of thumb in figuring out this expense, is if you are under the age of 55 travel protection will cost you between 10 – 15% of your total vacation.  If you are over the age of 55, travel protection will cost you between 10 – 20% of the total cost of your trip.

Don’t forget to tell your travel agent at Life is Better Traveling to give you a quote for travel protection when planning your next vacation. 

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