Insurance Awareness Day: How Travel Insurance Works with Other Insurance Coverage
Happy Insurance Awareness Day!
You may not have been aware, but June 28 is Insurance Awareness Day – a day to recognize what insurance does, how it can help you, and all the different types of insurance that are protecting you right now.
Granted, being aware of insurance may not sound like the most exciting thing to celebrate. But, it can be helpful and enlightening to get a better understanding of the whole ecosystem of insurance protecting you, your loved ones, and your possessions.
It can also be helpful in pointing out areas where you might not be adequately protected, and where some additional coverage might make sense.
And when you think about travel insurance, every component of a travel plan meshes with other insurance coverage you probably have, making sure you’re thoroughly covered.
Here’s what we mean:
Canceled Trips and Other Insurance
Trip Cancellation and Trip Interruption coverages that are included with travel insurance can cover your eligible prepaid travel expenses should you have to cancel or interrupt your trip for a covered reason.
Okay, but what are some covered reasons for cancellation or interruption?
How about you being too sick or injured to travel? Your health plan may cover the medical expenses while travel insurance may cover prepaid travel expenses.
Suppose you or a family member dies. Life insurance is there to pay a death benefit, and travel insurance is there to reimburse you for your trip cost.
If your home burns down or becomes uninhabitable due to a hurricane or flood, home insurance might help pay for your home and its contents (and flood insurance may help as well). Travel insurance may reimburse you for what you spent on your trip.
Baggage and Homeowner’s or Renter’s Insurance
Generali’s Guest Protect, Ski & Mountain, and Seaside Coastal Travel Insurance plans include Baggage coverage to help protect your luggage and personal effects while traveling. Baggage coverage can really come in handy but, depending on what you’re bringing with you on your trip, you might want some additional coverage as well.
Because Baggage coverage often doesn’t cover the full cost of some items and doesn’t cover other items at all (read Plan Documents for the details), it’s often recommended that you take out a rider on your homeowner’s or renter’s policy to cover big-ticket items like jewelry when you travel.
If you do that, then your luggage and many of its contents can be covered against loss, theft, or damage under your travel insurance plan, and your more expensive items can be more comprehensively covered under your homeowner’s or renter’s policy.
The important thing in a scenario like this is not which plan is covering your valuables, but that your valuables are covered and there are no coverage gaps. That’s where the insurance ecosystem shines.
Also read: How Travel Insurance is Different from Car or Home Insurance
Travel Insurance and Health Insurance
Our Guest Protect, Ski & Mountain, and Seaside Coastal Travel Insurance plans cover most types of expenses related to emergency medical treatments for illness or injury that occurs during your trip and are physician-ordered, including:
- Physician/nurse services
- Charges for hospital confinement and services
- Local ambulance services and emergency medical evacuation
- Necessary medical care en route
- Prescription drugs and medicines
- Therapeutic services
- Emergency dental treatment
- Repatriation to a hospital or to your place of residence in the U.S., when deemed medically necessary and approved
With Generali Guest Protect, Ski & Mountain, and Seaside Coastal Travel Insurance, you can be reimbursed for costs that aren’t covered by your standard health insurance. Even if your health insurance can cover most of your costs, you might be held responsible for deductibles or copays that your travel insurance can cover.
If you’re concerned about being sick or injured while traveling, you should get travel medical insurance – plain and simple.
Also read: Your Health Insurance & Travel Insurance: Why You Need Both
Rental Car Damage Coverage and Auto Insurance
Most car insurance plans can cover a rental car – but if you get into an accident with a rental car, do you really want that affecting your auto insurance rates?
Choosing a Generali plan that includes Rental Car Damage coverage can help save your pocketbook thousands in premium should you get in an accident while traveling.
It’s simple, common-sense coverage that can really pay off.
Also read: How travel insurance can help when you drive on vacation
Insurance Awareness Day is a great time to become more aware of all the insurance that helps protect you seamlessly, both when you travel and when you return home. Hopefully you’ve also become more aware of Generali travel insurance and how it can work with your other insurance coverage.
Embrace the insurance ecosystem. Choose Generali travel insurance for your next big trip and contact your vacation rental company for a quote today.
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