Archive for the ‘Travel insurance’ Category
Types of Travel Insurance to Save you Money
When you are travelling on a budget, insurance becomes more important. We have talked a lot about the importance of insurance on these updates, but many spendthrifts are still shying away. Yes, it costs you more up front. You will be tacking on anywhere from $15 to $300 for a trip (hopefully closer to the $15 if you do it right). In the end, though, the point of all insurance is to save you money. Here is a brief list of the different types of insurance and what each can do for you:
Single Trip Travel Insurance
This covers you for one-trip of the basics. Those basics, generally speaking, are loss of luggage, flight delays, cancellations, loss of travel documents and other strictly “travel-related” mishaps. Anything that occurs while you are at your destination, such as theft from your hotel room, may not be covered. At the very least, you should purchase single trip insurance to save you from fees. Airlines are less willing to reimburse tickets in this recession, and you will be stuck with the bill.
Annual Travel Insurance
This will cover all of your travels for one year. This may include business and personal travel. Any time you leave a certain radius of your house, typically out of state, your travel insurance will kick in to protect you. Flat tires, unplanned hotel stays and emergency room visits may be assisted even if you are just visiting Grandma for the weekend. Weigh the costs of getting single trip coverage for an average year, then see if annual insurance would pay off for you.
Family Travel Insurance
Exactly what it sounds like, family travel insurance covers all members of your family, whether you are travelling together or separately. Kid going to Europe for a school trip? Covered. Husband heading fishing in the mountains? Covered. For a family travelling in different directions or enjoying a few trips together each year, annual family travel insurance can pay off.
Backpacker’s Insurance
Backpacker’s have unique challenges in terms of insurance. They are typically staying in hostels or outdoors, their belongings are not well protected, they are engaging in more active and risky activities, and they are generally enjoying the company of other budget travelers who may not be the most white-collar crowd. All of these risk factors are the reason why backpacker’s insurance lines have been specifically targeted for unique challenges. Before you leave to backpack, ask your insurance company about what you should protect yourself for. Then shop around the Internet for the best deals.
Sports Travel Insurance
Whether you are enjoying winter sports, such as skiing and snowboarding, or water sports, like scuba and jet skiing, there are travel insurance packages to protect you. Loss of equipment can be very expensive as are medical emergencies. With good fortune, you will not need your insurance. Insurance is a great instance of an item it is better to have and not need than need an not have.
Tags: Cheap travel, cheap travel insurance, skii insurance, watersport insurance
Housing Swap: Just the Facts
In an effort to conserve resources on summer vacations, the popularity of housing swaps has grown tremendously. Families and couples have been using Craigslist and eBay to list their homes available during certain portions of the year. The concept is not entirely new. Timeshares are a tested and popular way to enjoy vacationing. In timeshare properties, individuals split ownership in properties. These properties are generally part of a greater network. The owners place their home up for “lease” the weeks they technically own it, and they have the option of trading with another family in the network. Housing swaps are different on a few levels, however. The biggest difference is you are offering your primary residence to another group.
You Must Live in a Desirable Place
Housing swaps typically occur between two groups who each live in a desirable location. For example, one group may live in New York City, one in downtown Chicago. Both of these are vacation spots; you do not need to live near the beach. If you live close to a major attraction, such as Disney World or the Super Bowl Destination, you may also consider a swap. In fact, families come from all over the world to attend these attractions. To swap your coastal home, you will need to consider which times of year are attractive based on weather where you live.
You Need a Contract
Protect yourself legally while you are staying in another person’s home and visa versa. You should have written proof you were given permission to reside there. The contract should also explain any damages already present in the residence you will inhabit. Likewise, document the condition of your home. Should you need to recover damages from your tenant in the future, you will need evidence they caused the damage. You will also protect yourself by naming an exact time the tenant must vacate by.
You Should Consider Insurance
Your homeowners insurance may not cover any damages that occur when tenants are staying in your home. Ask your insurance company what will occur if, say, a fire starts in your home while you are not there. If the fire is the fault of the tenant, it may not be covered. Similarly, you will want to make sure the tenants are responsible for any liability suits that may be caused by their actions on your property. If they leave a garden hose out and a neighbor trips on it, for example, you do not want to be sued.
It Takes a Certain Type
Not everyone will be happy with a housing swap. You may have a difficult time if you are particular about your belongings and personal space. You can set rules as to which rooms and closets the tenants are allowed in. For example, a rental property usually has an “owners closet” where valuables are locked away. However, the tenant will still be sleeping in your bed, cooking in your kitchen, parking in your garage and using your bathroom. If the thought of this bothers you, you are probably not a good candidate for a housing swap.
Tags: Housing swap, Vacation home rental
Save Money on your Travel Insurance
Let’s be honest: most travelers do not purchase adequate insurance. Travel insurance can add to the cost of money you are already spending on the luxury of vacation. Many travelers only think of travel insurance when it comes time to take three-week backpack trips through Europe. In truth, travel insurance can cover you even if you are driving across the state to see your grandparents. When you are smart about your travel insurance purchase, the cost will be negligible. Most of the time, you will not need the insurance. However, there will be times you are thankful you have it.
What is Covered
Depending on the specific type of insurance you purchase, you will be covered for a wide-array of travel woes. From the basic cancellation to the more extreme case of being accused of a crime abroad, your travel insurance will kick in. Popular coverage includes:
- Trip cancellation
- Delayed, lost or stolen luggage
- Flight delays or cancellations resulting in losses due to missed flights or extra nights in hotels
- Medical needs including first aid, hospital trips or illnesses
- Loss of important documents such as passports or Visas
- Location of an appropriate attorney and payment of some fees if you are arrested abroad
- Loss of proprietary materials for travelers with privileged information
- Business travel loss for a missed meeting or presentation
- Liability coverage for harm caused to another individual
Types of Travel Insurance
Depending on how frequently you travel, who you are with and where you will stay, you may require a different type of travel insurance. For example, annual travel insurance can be purchased for individuals who leave the state more than a few times each year. Especially if you leave the country often, annual travel insurance can save you money over single-trip travel insurance. Single-trip travel insurance is often purchased with one experience in mind. It is popular for excursions to third-world countries where losses tend to be higher. One type of single-trip travel insurance is backpackers insurance. This line takes into account unique threats by having higher coverage in case of medical emergency or bodily harm. Family travel insurance can cover all the members of one group regardless of whether they are traveling together or alone. If your husband travels for business and your daughter travels for soccer, family travel insurance can cover them both. Take a look at the traveling you are planning on doing each year to determine what is right for you.
Cheapest Travel Insurance
Find the cheapest travel insurance by shopping around. If you currently insure your car and home with a particular company, see if there is a discount for adding a travel line. You may want to shop online for dedicated travel insurance providers. Just make sure you know what you are covered for; talk to a representative before purchasing to avoid scams. Finally, your travel agent may have suggestions. Some trips include options to upgrade to include insurance at a low cost. The biggest factor affecting your cost will be the lines you elect to cover. Be sure to truly assess your risk in order to purchase the best possible packages for your needs.
