Summer
Vol.
1.
2014
•
Travel Insurance covers more than just the cost of your trip
29
By Mark Torpey, CTC, Regional Director of SalesSouthwest US & National Accounts MH Ross Travel Insurance Services
Travel insurance is an added cost to an already expensive trip. Then why spend that money when you know you're going,you know you and the family are healthy? Our good friend at MHRoss Insurance, Mr Mark Torpey, was kind enough to give us a few very good reasons why you should always at least consider spending those extra dollars. If nothing else, his words will make you think next time you travel.
Photo courtesy of On Call International
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ccording to the US Travel Insurance Association, “one in six Americans’ travel plans have been impacted by medical conditions, mechanical or carrier-caused problems, or natural disasters including severe weather.” When booking your next trip, ask yourself, “Can I afford the financial risk of losing my vacation investment if something goes wrong due to illness, flight delays, cancellations or severe weather?” If your trip is delayed or canceled due to any one of these reasons, travel insurance can save you money by covering your trip costs. But did you know it does more than just reimburse you for the cost of your trip? Travel insurance plans are designed to cover you, your belongings and the cost of your travel arrangements against a variety of unforeseeable reasons. In fact, travel insurance covers you against the many risks of traveling including accidents, illness, missed flights, canceled tours, lost luggage, theft, terrorism, travelcompany bankruptcies and more. Actually, the most expensive financial risks of traveling are medical expenses. Carol, a 67- Arizona resident, found this to be true when she took the trip of a lifetime – a Greek Islands cruise. Carol was looking to forward to exploring a part of Europe she had never visited before. However, as soon as she arrived in Athens, Carol slipped and fell in the hotel lobby. She was rushed to the hospital where it was determined that she had a broken hip. Instead of setting sail from Athens, Greece, Carol had emergency surgery.
Unfortunately, she also developed get home as soon as possible. They dysentery and was not responding well. interrupted their trip at the next port As soon as she was stabilized, Carol of call and flew home immediately. needed to be evacuated to Arizona The total cost was $25,000 per person immediately. After she was deemed and their total claim of $100,000 was able to travel, her insurance provided covered by travel insurance. medical evacuation coverage back to Emergencies happen when you Arizona using a commercial carrier. least expect it. In addition to covering Because she could not yet sit upright, medical and trip expenses, travel Carol had to travel as insurance also provides a stretcher patient “One in six a 24-hour assistance with an accompanying line so that you Americans’ travel phone medical attendant. can speak to a nurse, find plans have been The plane made its doctors, help arrange way from Athens to accommodations, impacted by Los Angeles. When she contact your family arrived in Los Angeles, medical conditions, or receive additional Carol was flown via air assistance in case of mechanical or ambulance to Phoenix, emergency. carrier-caused and all of those On average, travel expenses and plans problems, or natural insurance costs 4-8% of were taken care of by total trip cost and disasters including your her travel insurance is based on the cost and severe weather.” policy. length of your trip, as Carol made a full well as the age of the recovery and was not only reimbursed passengers. So whether it's the trip for the cost of her trip she couldn’t costs, your luggage, or medical costs, take, but also all of the expenses for travel insurance is a wise investment the ambulance, surgery, subsequent for your next vacation. hospitalization and air evacuation. Needing medical care outside of the United States, Medicare and probably her supplemental plan would not have provided any coverage. In the end, Carol invested $200 in a travel insurance plan that paid for well over $100,000 in expenses. Janet, Jeffrey, Joyce and Arthur, two couples, learned the importance of travel insurance while celebrating their 65th birthdays on a cruise to Southeast Asia. During their trip, they received a phone call. Janet and Jeffrey’s son-in-law had passed away at the age of 30. This horribly sad and unexpected event left both of the couples wanting to