Benfits of purchasing travel protection or Insurance
Insurance is one of those services that seems like a rip off but..... when you need it, you don't want to be without it.
Protection/Insurance There is a difference.
While we use these terms interchangeably, there is a difference between travel protection and travel insurance.
Travel protection is usually offered by a travel company like an airline or company that sells full vacations. It will only cover what is purchased from that company. Often the cheapest option will payout in the form of credit towards another vacation once a claim is filed. That credit does have an expiration date, usually one year.
Travel Insurance is a type of insurance product that is sold by an insurance company. It's regulated and will provide a cash payout once a claim is filed
Both products have tiers of protection levels. Protection products usually always have Cancel For Any Reason included where insurance products offer this as a rider for an additional fee. Naturally the more that is covered, the more you have to pay.
Is It Worth It?
Most vacations play out without any issues. But you never know what will happen. Like I stated above, when you need it, you don't want to be without it.
Comprehensive travel insurance (Trip cancellation, interruption, medical, etc.) is highly recommended for all travel. This is the only way to recoup on your travel investment. Travel can be a pricey investment. Although purchasing insurance is not a guarantee that all claims will be paid (or paid to your satisfaction). It's much better to recoup some if not all of that investment, especially if you don't get to go on that trip!
Read those Terms and Conditions
I know nobody wants to read all that boring and long details about your purchase. Here's reality: If you don't pay attention to that small print prior to purchase you could agree to paying for something that doesn't do anything you assumed it would do.
Insurance is a tricky product. Just like car or life insurance, if you want the best payout you will have to pay out. Too many of my clients assume that this protection means you automatically get a full cash refund if you have to file a claim. As I stated above, the cheapest option usually pays out in travel credit.
Some other things to that are in those terms and conditions are that this may not cover non refundable options in your itinerary or you may have 7-14 days to purchase from the date of your deposit. All travel insurance/protection is not equal and does NOT cover all situations.
Please make sure you read and understand terms and conditions of any policy purchased regardless of who you make that purchase with.
What if I Choose NOT to Buy?
We all want that deal and travel protection/insurance seems to be an unnecessary additional costs. Understand that choosing to NOT purchase protection for your vacation means that
the purchase is subject to the cancellation policy of vendor or vendors with whom the purchases are made. Those cancellation policies require that you cancel you booking several days in advance in order to receive a refund and that is also tiered. The longer you wait to cancel the less you get back. That doesn't help if something happens the day before arriving like a pandemic.....
Please make sure you read and understand terms and conditions of any policy before purchase and the standard cancellation policy in case you don't want the coverage. Know your options and ask questions. It will be worth it !
Just Ask Kiky is not liable for any claims, losses, damages, costs, expenses, delays or loss of enjoyment, of any nature or kind whatsoever, resulting from events beyond our or a supplier’s reasonable control, including but not limited to pandemics, acts of God, strikes, lockouts or other labour disputes or disruptions, wars, blockades, insurrections, riots, earthquakes, weather conditions, floods or acts or restraints imposed by government authorities.