Travel Insurance Review

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Travelers note: In the Aftermath of Hurricane Irene

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irene_aftermathIn the aftermath of Hurricane Irene, travel insurance companies want travelers to note this reminder of their coverage and advice:

  • Save all your receipts – for hotels, meals, taxis, etc.
  • Save any documentation/proof of flights delayed or cancelled.
  • Carefully review your travel insurance document.

In order for a travel insurance claim to be paid, the travel insurance company will need these documents. Keep a copy at home for yourself, just in case.

Remember that to be eligible for coverage for weather delays, cancellations, and interruptions as a result of the hurricane, your policy would have to have been purchased and in effect prior to the naming of Irene (after that point, it becomes a ‘known’ event).

Check your policy for the minimum hours required for trip delay. Travel delay benefits typically include reimbursement for hotel expenses, meals, and transportation.

Trip interruption benefits are typically available if your flight is cancelled completely, and may include reimbursement for the lost portion of your trip plus any additional costs to rejoin your planned itinerary.

Mandatory evacuations are covered by some plans and provide reimbursement for unexpected travel costs, depending on your plan. See the terms and conditions for your travel insurance, or review the description of coverage sent to you when you enrolled for an explanation.

See more tips on filing a successful travel insurance claim.

 

Hey Parents! Taking the kids on vacation doesn’t have to cost so much

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Kids are freeHere at Travel Insurance Review, we’ve got kids too and we know how expensive they can be (cute and funny, sure, but not cheap). So, we took a little time to round up the travel insurance plans that include coverage for kids at no extra charge.A couple of plans from Travelexprovide coverage for kids at no additional cost:

The Worldwide Trip Protector plan from Travel Insured International also covers kids for free.

The Classic plan from Access America  (now known as Allianz Travel Insurance) covers kids under 18 at no additional cost.

Multiple plans from Travel Guard include coverage for kids at no additional cost:

Kidnap, extortion, and ransom protection for corporate employees

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Kidnap, extortion, and ransom insuranceThe most important asset many business have these days is their employees. Those employees are carefully selected for their skills, experience, attitude, and ability to ensure business growth, but if a business gains attention, and we certainly hope it does, then those employees may be at greater risk for kidnapping when they travel.

Recently the head of a private security and insurance firm, Peter Stenning in Australia, confirmed U.S. intelligence that indicates Colombian terrorists are working to expand extortion activities. The presence of high-profile executives of large, wealthy corporations around the globe can attract the attention of criminals.

Kidnap and ransom insurance, known in the insurance world as K&R, can provide corporations (and individuals) with the ransom money needed to recover key employees or other corporate assets. This coverage may also cover the fees for hostage negotiation advisers and security consultants.

For individuals and businesses looking for this type of protection, we found a couple of plans worth reviewing:

World Risk Portfolio from Travel Insurance Services

The World Risk Portfolio plan from Travel Insurance Services is ideal for high-profile executives and corporations with employees who travel internationally frequently, this is specialized coverage combining multiple international insurance products to achieve a coverage plan that protects for these risks:

  • Kidnap, extortion and ransom protection
  • Foreign commercial liability, including employee theft, forgery and robbery
  • Marine cargo and war risk coverage
  • High repatriation costs

Corporate Kidnap, Ransom and Extortion Insurance from Global Underwriters

In this plan’s maximums are funds for death and dismemberment, ransom and extortion payments, expenses due to business interruption, consultant costs and more. The Corporate Kidnap, Ransom and Extortion Insurance plan from Global Underwriters is intended to protect corporate employers from the risks related to sending important employees out into the world to do business. With $50 million in coverage, employers are sure to have the protection they need.

Hurricane Irene barrels toward the eastern shore and travel plans are disrupted

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As hurricane Irene barrels her way toward the eastern shore, airlines have already begun canceling flights and moving planes and equipment out of harm’s way.

Irene is likely to force flight cancellations across the eastern seaboard and delays throughout the weekend, so the effect on U.S. air travel will be huge and it will in all likelihood ripple across the country’s airports.

While JetBlue was early to the scene in letting customers make flight changes, many airlines have begun issuing travel waivers and allowing passengers to change their travel plans without financial penalty.

Updated hurricane Irene Travel Policies for a number of airlines are available here:

For airlines not listed here, please check the airline website as this type of warning is usually available right on the website’s home page. Also, if you’re traveling on Friday or through the weekend, please keep an eye on the changing flight schedules.

So your interrupted cruise costs were refunded, but what about all the other expenses?

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Cruise interruptedMany travel insurance plans have trip interruption coverage, which protects you from financial losses if you have to abandon or interrupt your trip after your departure.

While your unused trip costs will be refunded up to the plan limits, what about all the other pre-paid costs like theater or sporting event tickets you’ve purchased ahead of time?

MH Ross’s Bridge and Complete planshave a nice benefit that reimburses travelers for forfeited pre-paid expenses if they have to interrupt their trip and return home for a covered reason.The plan language for the Bridge plan looks like this:

“If You interrupt Your Trip for a covered reason, We will
also reimburse You, up to $300, for the amount of unused,
forfeited, non-refundable payments for shore excursions;
theater, concert or event tickets or fees; or sightseeing if such
arrangements are made during Your Trip and are to be used
prior to the Scheduled Return Date of Your Trip.”

Note: the Complete plan provides up to $500 in forfeited event fees.

Additionally, in the event a cruise or other travel supplier makes a change in your trip itinerary – one that prevents you from attending a pre-paid event or activity – after your scheduled departure date, these plans will reimburse you for those costs up to $250 as well.

How can a personal medical profile help in a travel emergency?

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Electronic medical profileIn a medical emergency, time is a critical factor to successful treatment. A personal medical profile is a single place where the medical professionals who are treating a traveler can obtain access to a traveler’s medical history, pre-existing conditions, current medications and contact their current health care providers back home. Access to that information can make the difference between timely and effective emergency medical treatment and disaster.

A number of travel insurance plans include a feature that lets you put together a travel medical profile.

In addition to your travel itinerary, you’ll want to include the following in your profile:

  1. Personal contacts – relatives and friends who can be contacted in a medical emergency. Be sure to identify the order in which they should be contacted in case the first person on your list is traveling with you (your spouse perhaps?).
  2. Medical care provider contacts – the doctors who actively treat you and who will have your current medical records. If there are multiple doctors, list them by which condition they are treating.
  3. Insurance information – not just the travel insurance plan, but also current health care insurance information, including plan and member numbers.
  4. Full medical disclosure – list your pre-existing conditions, including speech, memory, hearing and other non visible conditions that someone treating you in an emergency situation will need to know, such as heart conditions or diabetes.
  5. Complete medical history – including allergies, blood type, current medications and immunizations.

For additional information see this Traveling Smart topic from UStiA.

Which plans have this option?

We found two companies offering plans with the exclusive Global Xpi Service.

  1. Global Alert’s plans: Essential, Preferred, and Preferred Plus.

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  1. MH Ross’s plans: Asset, Bridge, and Complete.
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Storm alerts to the East Coast for Hurricane Irene

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This very large storm is predicted to skirt Florida and make possible landfall in the Carolinas by the weekend.  Hurricane Irene, which is now a category 2 storm strengthened to hurricane status on Monday, is the ninth named storm of the 2011 Hurricane Season and will likely be the first hurricane to hit the United States since Hurricane Ike pounded the Texas coast in 2008.

As the warnings are issued, the U.S. Federal Emergency Management Agency (FEMA) Administrator, Craig Fugate, and National Hurricane Center (NHC) Director, Bill Read, remarked that it is s simply too early to be absolutely certain where Irene will make contact with the eastern coastline.

See Craig Fugate’s video update:

Instructions for those in the path of the hurricane are available at FEMA’s Ready America website.

Those with travel plans for the next five to seven days should check with their airlines for flight information, cancellations, and updates.

 

Business owners looking for all-round trip protection for your employees?

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Employee trip protectionWhat if your sales team meets all their goals and exceeds your expectations? If you want to send them on an incentive trip as a reward, you’ve got to be sure they return home safely for a number of reasons.

On the other hand, if your key employees are frequent travelers promoting and expanding the business, you’ve got a different corporate risk. Again, you’ll want to be sure those employees return home safely.

For all the business owners out there who are concerned about their employees’ safety and well-being on business trips or on incentive trips, we’ve got a few plans for you to review. These plans can help keep your employee safe while they travel on your dime for very little extra money.

Business Traveler from Travelex

Ideal for business trips and incentive trips, the Business Traveler plan from Travelex offers a number of excellent benefits, like extra cash for trip interruptions, delays or missed connections (with no time delays). If your employee misses their connection through no fault of their own, they won’t have to come up with a lot of extra cash to continue their trip. If you are sending your employees outside their health insurance network area, consider the medical upgrade in case they become ill or are injured in an accident on the trip.

Employee Travel Protection from Travel Insurance Services

With global travel increasingly common in today’s workplaces, the Employee Travel Protection plan from Travel Insurance Services is an excellent, low-cost enhancement to an employee benefit package and covers the gaps in medical expenses in typical employee coverage while adding evacuations, repatriation, flight accident AD&D, and travel assistance services.

High Limit Accident Insurance from Travel Insurance Services

To offset the loss of key employees and executives, war correspondents, government employees, and others, consider the High Limit Accident Insurance plan from Travel Insurance Services. This is term life and disability protection to cover the sudden and unexpected loss as a result of a travel accident. You choose the payout limit. Ideal for those who need travel accident coverage on a short-term or continuous basis.

USI Assist from Travel Insurance Services

The USI Assist plan from Travel Insurance Services is a travel accident plan for the frequently traveling business person. It covers travel accidents and emergency medical evacuations and offers options for security evacuations and out-of-network medical coverage if the employee’s plan does not extend to their destination. Offered at three plan levels, it covers employees, plus their spouse and children if traveling with the employee.

GEO Group from IMG

Designed as a cost-effective employer-sponsored group medical and dental plan with daily indemnity coverage, the GEO Group plan is for employers with international employees and provides U.S.-style health benefits as worldwide coverage. This plan is available to employers with two or more internationally assigned employees, expatriate employees, or independent contractors. Coverage for spouse and children available.