Date: June 30, 2009
For more information contact: Jim Guidry, (608) 264-6239 or jim.guidry@wisconsin.gov
Consider Travel Insurance for Your Family Vacation
Madison, WI—Many families take their vacations in August before fall arrives and the children have to go back to school. Insurance Commissioner Sean Dilweg reminds travelers to consider travel insurance as an essential part of their family adventure.
"Travel insurance can cover everything from severe weather and illness or family emergency to bankruptcy of the travel agency or cruise line," said Dilweg. "In today's economy costs are rising while travel dollars are more precious to consumers. Buying travel insurance can protect you from the loss of non-refundable travel costs, including airfare, hotel and tour expenses."
There are several major coverages available in travel insurance policies:
Trip Cancellation Insurance - Covers you if the tour operator or cruise line goes out of business, if you have to cancel the trip due to sickness, a death in the family or another catastrophe listed in the policy. This type of insurance would also provide reimbursement if you or an immediate family member becomes seriously ill or injured during the trip. Since preexisting conditions are typically not covered, make sure to check the policy before purchasing to make sure it has everything you need.
Baggage Insurance or Personal Effects Coverage - Covers your personal belongings if they are lost, stolen or damaged during the trip. Before purchasing this type of insurance, make sure to check your homeowner's policy for coverage of off-premise theft. Airlines and trip operators may also provide insurance for your possessions.
Emergency Medical Assistance - Covers medical assistance while you are on a trip, including emergency transportation, hospital stays in foreign countries and transportation if you need to be flown home. Before purchasing this type of insurance, check with your own health insurance policy to see if you are already covered.
"Most families only get the opportunity to get away once per year, so travel insurance should be a necessary consideration," said Dilweg. "Just like any other type of policy, travel insurance should be reviewed thoroughly before purchasing."
Contact your insurance agent or company for more information about travel insurance. The OCI publication "Consumer's Guide to Insurance" offers tips on purchasing all types of insurance. The publication can be ordered free from the agency by writing to OCI Publications, P.O. Box 7873, Madison, WI 53707-7873, calling 800-236-8517 or visiting the OCI Web site at http://oci.wi.gov.
Created by the Legislature in 1871, Wisconsin's Office of the Commissioner of Insurance (OCI) was vested with broad powers to ensure that the insurance industry responsibly and adequately met the insurance needs of Wisconsin citizens. Today, OCI's mission is to lead the way in informing and protecting the public and responding to its insurance needs.