RSS is pleased to offer a new product to our clients: Travel Insurance.

After being cooped up for so long due to Covid-19, it seems almost everyone is eager to travel again.  However, with all the uncertainty around, now more than ever it’s important to understand the different travel insurance policies available, what they cover and what they don’t.  Most travel experts agree that travel insurance will be more valuable now than ever in a post-COVID world.  While just 1 in 5 purchased travel insurance for leisure trips prior to the coronavirus pandemic, almost half say that they are likely to purchase it after COVID-19.  There’s no doubt that the recent pandemic has not only changed the landscape of how we travel but, for many of us, it has reshaped the importance of travel insurance, how it works, and how vital it has become.

Travel insurance will be in high demand, and companies are continuously adding new types of coverage to meet that demand.  While Travel insurance can include many specific types of coverage, consumers are typically focused on the 3 main categories:

Trip Cancellation

These plans are designed to provide coverage for trip cancellation/interruption and reimburse you for your prepaid, forfeited and non-refundable costs, if you are unable to take a trip due to an unforeseeable event. Typically, benefits are paid out for baggage loss and delay, medical/dental expenses, emergency medical transportation, legal expenses, personal liability, hijack, kidnap and detention. The premium for this policy is based on the age of the travelers and cost of trip. It is important to note that many of the carriers that offer this option, require you to insure the entire trip cost, as well as bind coverage within 15-21 days from the initial trip deposit/payment, to get full cancellation/interruption benefits.

Travel Medical Coverage

Most standard health insurance policies do not cover medical expenses incurred out of the country. A sudden illness or accident could leave you with hundreds of thousands of dollars in medical bills. Travel Medical provides coverage for medical expenses, emergency medical transportation as well as a small benefit for baggage loss and trip interruption.  These types of policies are ideal for:

  • International vacationers
  • Relatives visiting from overseas
  • People going on cruises, safaris or guided tours
  • International business travelers
  • Students studying abroad

 Emergency Medical Evacuation Coverage

Unfortunately, and estimated 1 in 30 trips end in a medical emergency, and safety while traveling has become a growing concern. Over 2 million travelers each year require medical transport ranging from $30,000-$180,000 in costs that their health insurance, travel insurance, and platinum card benefits may not cover.

While Travel Medical plans may cover the cost of a hospitalization outside of your medical plan’s service area or outside of the country, in the event of an emergency, they will not transport a person somewhere else unless it is medically necessary. Evacuation plans will provide an air ambulance transport to any appropriate medical facility of the traveler’s choice, allowing him to recover at a hospital close to home, surrounded by friends and family.

Evacuation plans also provide for evacuation and repatriation in cases of political instability or natural disaster; interpretation services, transport of mortal remains, and other emergency services. These plans are priced for annual membership, and they will be in effect for any travel more than 150 miles from home. There are no pre-existing condition requirements provided the traveler is under age 75.

Whether traveling across county lines or across the country, reviewing these travel options and choosing the ones you need will help you depart with the comfort and peace of mind we all need during these unprecedented and uncertain times.

Please feel free to contact our office with any questions you may have. We are always here as a resource to you. Here’s to an awesome (PLEASE) 2021!