Book a trip through any travel agent, and you’ll probably be offered some kind of travel or trip insurance. After all, travel agents make a market on the product. Truth be told, these days they probably make more on insurance commissions than on some trip commissions.
Don’t’ get me wrong, insurance isn’t necessarily a bad thing; but we could all make better buying decisions on travel insurance products. Think about it — we shop around and compare rates for car insurance, so why don’t we do the same for travel-related insurance?
Well, I did. And I’m very pleased with the results.
Granted, there are many types of travel insurance; however there’s one type that I just can’t live without — emergency evacuation insurance.
Why? Well, although I’m content to roll the dice in the off-chance that I’ll have to cancel my trip because of a health issue or a death in the family (I’ve had both and still managed to make the trips); an emergency medical evacuation could set me back in upwards of $50k. And that’s just not a risk I’m willing to take.
But I’m also not willing to pay “per-trip” for an overpriced policy that gives me minimal coverage.
So, like I said, I shopped around. And in the end, I found a very affordable source for emergency evacuation insurance — the Travel Medical Protection Plan from American Express.
This yearly plan covers me whenever I travel more than 150 miles from my permanent residence, and it includes a whopping $100k coverage for emergency medical evacuation. It also includes another $100k for emergency medical or dental treatment (secondary to my own health insurance, which doesn’t cover anything overseas). Additionally, in the unlikely event that I’m hospitalized for more than five days while I’m on the road, the policy foots the bill for travel expenses for one visitor to travel to my bedside.
Prices vary depending on your age, but both my husband and I (we are between 50-60) are covered for a whole year for a very affordable $149.
Best of all, there are no health restrictions or exclusions for pre-existing conditions.
Of course, everyone’s need is different, so I advise you check it out and ask a lot of questions based on your own situation. Still, it seems a very affordable policy, especially if you travel a lot.
And if this policy doesn’t work for you, see you own insurance agent about an annual travel insurance policy. You’ll usually get a better deal on an annual policy, than on the per-trip policies that most travel agents offer. Additionally, since your insurance agent is an expert in all insurance matters, her or she is the best person to consult for all your insurance needs.