Travelers Discover the Importance of Travel Insurance in Lieu of Terrorist Plots

Springfield, MO (PRWEB) August 12, 2006 -- In light of today’s foiled terrorist attacks in the UK, which have caused severe delays and cancellations at many airports around the world, travelers are becoming increasingly aware of the importance of travel insurance while traveling abroad. According to Derek Patterson, owner of eGlobalHealth Insurers Agency, LLC (www.eGlobalHealth.com), many people are not familiar with the types of coverage available and what best fits their specific travel needs.

Mr. Patterson informs that “travel insurance” is a broad term encompassing many product types. Short-term travel medical insurance and trip package plans are two of the most common categories of travel insurance.

Short-term travel medical insurance is designed to provide health insurance coverage for illness or accident and emergencies while traveling outside of your home country. Typically included in these plans are accident life insurance, repatriation of mortal remains and emergency medical evacuation along with other international assistance services.

Trip package plans, also known as trip cancellation/interruption plans, are primarily designed to reimburse you for non-refundable deposits you put down on a trip if you are unable to go, or are forced to leave early. They will also provide for some limited emergency medical coverage, accident life insurance and other travel assistance services as well.

It is important to note, however, that it will only pay out for cancellation or interruption if you have to cancel or leave early because of a covered reason. Travelers must therefore read the policy for benefits and exclusions or contact a travel insurance broker with experience in this area. Derek states that not all travel medical or trip cancellation plans are built the same and the general public must be informed about the choices they make before purchasing.

Unfortunately, if you are having second thoughts of traveling to Europe this weekend after the recently exposed terror plots, your trip cancellation insurance will most likely not refund you for trip costs due to cancellation or interruption. A disinclination to travel, or choosing not to travel because of fear, is not covered under most policies. It is typically stated that there must have been an actual act of terrorism that has resulted in loss of life or major damage to be considered a terrorist act and therefore eligible for reimbursement. If there were, in fact, a terrorist event, it must typically be within close proximity of your scheduled itinerary or destination city.

Most trip package plans also include another important component, baggage protection. Many travelers have routinely carried expensive equipment such as Blackberries, laptops and cell phones on board the plane. However, these items must now be included in checked luggage and if lost, stolen or damaged, can be very costly to replace. Be aware however, that there are many exclusions on what will actually be covered with trip package plans. Travelers should check their policy exclusions under the lost luggage or baggage delay section of their policy wording. Most insurance companies are currently not covering loss of electronic devices, but this may change in the near future due to these new airline restrictions. If equipment is lost and it is not included in your trip package, contact the airline that is at fault, or as a last resort contact your homeowners insurance company, as you may be able to claim the loss under that policy.

Accidental death and dismemberment (AD & D) is also usually included in the cost of any travel insurance plan, although with a minimal limit of between $25,000- $50,000. “Even though it is a grim thought,” states Mr. Patterson, “travelers should really consider what will happen in the event of your death while you are traveling abroad, whether on board a flight or on the ground at your destination”. Derek continues, “Many people either do not have any life insurance or not enough life insurance”. In case of death, there could be a substantial financial burden left upon a family should they not have supplemental accident life insurance. If you feel you need more accident life insurance, eGlobalHealth Insurers Agency is able to provide what is called High Limit AD & D which can be written for up to ten times your annual income (up to US$ 20 million). This particular AD & D plan can even be written for those visiting some of the most War torn countries on Earth.    

So, it appears that the airlines and the travel industry as a whole will be in another period of change after today’s exposed terrorist plots. Travelers need to have an understanding of what the possibilities are and protect themselves accordingly. A vacation can be a time of relaxation and rejuvenation; however, we have all been reminded today of the ongoing inconveniences and threats our travels may hold. The brokerage team at eGlobalHealth.com recommends that everyone traveling, whether for business or pleasure, fully understand the ins and outs of traveling in today’s quickly changing travel landscape.

eGlobalHealth Insurers Agency, LLC (www.eGlobalHealth.com) is a third generation international insurance brokerage firm. Tracing their beginnings back to 1941, the Patterson’s have helped insure thousands of clients in over 180 countries around the Globe. Their goal is continue to provide assistance and valuable resources to all global travelers who are becoming increasingly aware of the risks they face while living and traveling abroad. Also visit their newly launched visitors medical insurance site at www.VisitorMedicalInsurancePlans.com. Health and life insurance plans are underwritten by A rated Lloyds of London.

###