Saving money on travel insurance

To determine how much medical insurance you need, check with your provider to see if things like hospital visits abroad and emergency medical evacuation costs.

Also check with your credit cards: American Express says that “American Express Centurion and Platinum cardholders are automatically entitled to free emergency medical evacuation coverage.”

Regarding car insurance and rental cars:

Most of the liability and collision damage coverage needed while driving a rental car, Perkins said, may already be provided through regular automobile, household or other insurance policies. While credit card issuers typically don’t include any liability coverage, many do provide extensive collision coverage. Usually offered under the auspices of premium Gold or Platinum cards, credit card companies will offer collision coverage at no extra cost assuming the rental is paid for with the card.

All in all the article I linked to above was a very interesting read and should be worth your time.

Filed Under: Travel insurance

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  1. Mike says:

    When checking on what medical coverage your U.S. policy gives, find out if it is reimbursement only or true coverage. Having huge reimbursement coverage is not much help if you are stranded overseas and the cost of emergency medical care exceeds your financial resources. The company I recommend to my clients offers true coverage and a 24 hour hotline that is accessable worldwide and is staffed by mulilingual experts. Many times they have pulled clients out of the fire so to speak. The bottom line is don’t leave the U.S. thinking that “nothing will happen to me”. Odds are it won’t, but it can, and there will be no one to bail you out if you are not prepared. Hopefully the money you spend on insurance is money down the rat hole in that all goes well. It’s a small expense, don’t cheap out.

  2. ken ramey says:

    We had emergency coverage of our own, but because we did not buy cancellation insurance, we got hit with a total confiscation of our fares + a penalty for disputing wih the cruise line. There ought to be a policy that covers cancellation alone, the premium of which is all one should lose if a cancellation is medically necessary. It should provide that if passengers can travel within 45 days, the cruise should be postponed rather than be cancelled. All we got was “tough luck!” The cruise would not bend. Had we been able to go, all we lost would have been used to see that we had a good time. What a bummer!

  3. mike says:

    Cruise lines will not be flexible and will fall back on their cancellation penalties which are clearly spelled out both in their brochures and on their websites. They do not care the reason for the cancellation, it is not their concern.

    I don’t know of any cancellation coverage that will let you change your travel date if you can travel within 45 days of your original date. This is most likely due to the fact that within that time frame from departure, a cruise 45 days in the future is either sold out or offered at an inflated rate due to low availability. I am not an expert in this area, perhaps there is an actuary out there who can expand on this. At least with a good medical cancellation policy you will get your expenses reimbursed. Lesson learned.

    A good Travel Agent will help you to avoid future expensive lessons.

  4. James Trotta says:

    Thank you for the insight. There must be insurance like the kind Ken wishes he had had, the kind where you get reimbursed if you cancel for medical reasons. I’m not sure why you would only want cancellation ocverage. You can get sick on the ship as easily as you can get sick before the cruise.

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