Many times, families don't even consider travel insurance before a trip. It's certainly something you should research first, but also be aware you might not even need it if, for instance, your current health insurance covers you out of state or even out of the country. Here is a rundown of family travel insurance.
Types of Family Travel Insurance
It's easy to get confused about family travel insurance, or even think you're getting one type of coverage when you're really getting another. There are three major types of travel insurance, and some plans cover just one area while others cover all.
Family Health Travel Insurance
This can vary wildly in what it covers, but is essentially insurance to cover any situations in which you or your family needs health care while traveling. Some insurance policies will cover the expense to return home, for instance, for treatment.
It is crucial you check with your own insurance company first to see what coverage you get and where while traveling. Be sure to specifically ask what is excluded from your existing plan (for instance, injuries during sports activities often times are not. You also want to ask about exclusions for any potential travel insurance plan you are considering. You are most likely to need this insurance if you will travel abroad with the family.
Trip Cancellation Family Travel Insurance
Anyone with kids knows that anything can happen any time, and probably will if you have plans and cash attached to it. Trip cancellation insurance is often times inexpensive, and this only covers costs for plane tickets, non-refundable reservations, and similar items if you must cancel your trip.
Before you buy this, check first to see if one of your credit cards already offers this automatically when you make a purchase for, say, a plane ticket. Also consider whether you are really going to have any expenses that are non-refundable. If you're taking a road trip and booking a typical hotel room, you may only lose a first night's stay by cancelling last-minute.
Be sure to check first about what qualified as a justified cancellation to get reimbursement.
Trip Loss Family Travel Insurance
Other travel insurance tends to cover incidents that happen during your travels, such as lost luggage and theft of items while traveling. This insurance is probably more needed in a situation where your family must travel with high-end items.
Be sure you scrutinize any plan to see precisely what is covered, however. Some items must be "scheduled" or they will either not be covered or be covered at a very low dollar amount. Jewelry is a classic example of this.
Also be sure you check first with your existing renter's insurance or homeowner's insurance policy. Sometimes, certain items are covered up to certain dollar amounts, so a separate policy might not even be necessary.
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