6 Questions to ask yourself when considering travel insurance

Not all travel insurance is created equal. Like all insurance, there are levels of protection. It is common to find an array of price points and you may feel overwhelmed as you examine the coverage levels on a line by line basis. AAA is here to help. A good place to start is asking yourself these simple questions.

Is my trip insurable?

Travel insurance is designed to cover what is NOT refundable by your travel providers and their policies. Some trips can’t be insured with traditional travel insurance, such as many business trips, inexpensive road trips, or trips taken with reward miles or points. The main thing you need to ask yourself is what would you lose in non-refundable deposits and payments if your trip is canceled. The immediate follow-up, once you know the value of your risk, is whether or not that exceeds the cost of your insurance policy, and whether you feel the need to protect that investment.

What do I need from a travel insurance plan?

Even if you do not have a huge financial risk, travel insurance may still be right for you. International healthcare coverage may be a concern. While you may already have medical coverage through your health insurance, you may find exemptions for international destinations. This is common with Medicare plans.It is important to understand the terms of your existing policies. For example, does your health care offer in-network resources at your destination? Do you have car rental coverage through your auto insurance policy? You also may have more traditional travel insurance-type coverage, such as lost luggage and medical evacuation, through the credit card you use to book the trip. Once you know what’s covered, you can determine any holes in liabilities, and find the best travel insurance plan to fill in those needs.

Should I use an agent?

Consulting with your AAA Travel advisor about your trip and the insurable interests you have is important. Together you can review your list and focus on the items needing coverage. Advisors will also act as your advocate when they can, helping you prepare a claim. AAA Members are not required to purchase travel insurance from AAA, and you have the capability to use a third party seller, or even buy direct from a travel provider. Remember, a good travel advisor will help you find the best travel insurance policy for you, regardless of the source.

How do I know the travel insurance company is fair?

Reviews. Plain and simple, you should look into the company’s reviews. Start with a simple web search of the company, and then add in some keywords such as “claim” “delay” or  even“scam.” Read the reviews carefully. Combine your advisor’s recommendations, user-generated reviews, and the company’s star ratings for a holistic view on what to expect from your policy in the event of an issue.

When is the right time to buy travel insurance?

You should buy your policy when you book or place a deposit on a trip. Most travel insurance policies require purchasing your policy within two weeks of your first trip payment or trip deposit. You will want to make the most of your investment in the insurance, and protect your costs from the very beginning. Starting your policy at the time of booking allows this. You should also consider playing for your insurance policy with a credit card. That way, if you ever have a problem with the policy, you can dispute the charges through your card company. That type of dispute is rare, but the whole concept of insurance is “just in case”, so why not add that layer of protection.

Does AAA have travel insurance?

AAA Travel partners with Allianz Travel to offer our Members travel insurance. You can learn more about Allianz Travel through AAA by visiting this dedicated webpage, where you can fill out our online form or you can always call AAA Travel at 1-800-222-7448.