There are 2 main reasons you need third-party insurance:
- Medical coverage
Most people only think about travel insurance covering them if they have to cancel their trip. And many will say, “We are going on this trip no matter what so we don’t need insurance.” But we all know things happen. In this case, I always say “What dollar amount are you willing to lose if you can’t go? If it is more than the cost of this trip, get insurance.”While cancellation right before travel can mean you lose all the money you’ve paid for the trip, the bigger financial issue is if you have a medical need while you are out of the country. Most people aren’t aware that medical insurance isn’t valid outside the US. Some think your credit card has medical coverage, but don’t realize that in most cases you have to pay everything upfront and then hope for reimbursement. Recently, I heard a story from a supplier that stuck with me. She sat in a waiting room for hours with a woman whose husband had a heart attack and the hospital required her to pay $25,000 upfront for medical care. The woman called every one of her credit card companies and her bank begging for assistance – all of which denied her any help. Finally, she had to call her employer and ask for an advance on her salary. They stepped in and guaranteed the bill. Who wants to go through this?That’s why EVERYONE needs travel insurance. As your Travel Adviser, I can find you the right policy for your needs.