Out of Gas Newsletter - Issue 88 June 12th, 2010
- Image by Truthout.org via Flickr
Travel Insurance - What is it? Is it worth it.
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Hope you are enjoying your Summer so far. We’re getting into the full swing of summer here at our house, so over the next few weeks posting will be a little more sporadic as we enjoy ourselves.
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I have heard many people talking about having to change their vacation plans because of the oil spill. That got me to thinking about trip insurance… you know those ‘optional’ packages that you can buy and they will supposedly refund you if you have to change your vacation plans.
So what exactly is travel insurance?
Travel Insurance is insurance that is intended to cover medical expenses and financial (such as money invested in nonrefundable pre-payments) and other losses incurred while traveling, either within one’s own country, or internationally.
en.wikipedia.org/wiki/Travel_insurance
Do credit cards offer travel insurance -
Credit cards offer many different types of insurance, cards vary widely in the type of insurance they offer, so the best advice is to check with your card(s) membership benefits… you know the thing you got in the mail when you got the card. If you don’t have that anymore you can check on the credit cards website and that should have all the information that you need.
Important tidbit - when traveling it is best to leave the debit card at home, you’re much better protected when using a credit card while traveling. One of the reasons is it is easier to dispute fraudulent charges, another if the card is stolen or lost you can’t be held responsible for the charges, that isn’t the case if you lose your debit card.
So what are some of the things credit cards may help you with?
If you have unexplained charges (like a double hotel bill, excessive bills at a restaurant etc) you can dispute them.
Almost all credit cards have rental coverage (but remember you have to pay with the credit card). Coverages vary, so with all of the items listed, make sure that you check your individual credit cards policy.
Travel accident coverage for air travel.
Some offer claims for delayed baggage.
We’ll talk about some additional types of travel insurance you may want next Saturday.
