Terrorism and Travel Insurance: Is it covered?
Is terrorism covered under travel insurance policies? The answer is both yes and no. It depends on the type of travel insurance and more specifically on the sub-category of coverage found in the policy.
(PRWEB) July 9, 2005 -- There are generic types of travel insurance which are
designed for different types of financial loss. The most popular type of plan is
the “Package Policy”. These policies vary from company to company but their
common denominator is that they are designed for single trips and usually have
some or all of the following coverages;
-Trip
cancellation/interruption,
-Travel delay,
-Medical expense,
-Baggage
loss or damage,
-Baggage delay,
-Emergency medical evacuation,
-Flight
accident,
-Accidental death, and
-Rental car coverage.
The
clearest indication of terrorism coverage is found in the trip
cancellation/interruption and travel delay coverages. These coverages have
specific covered reasons (named perils) that trigger their benefits. Most
“Package Plans” will provide cancellation or interruption benefits in the event
of a terrorist incident. However, coverage maybe limited in a number of
ways:
-some plans require that you buy coverage within a specific time
after your initial deposit ,
-some require that the Department of State issue
a travel warning against travel to a country on your itinerary,
-some require
that the “Terrorist Incident” occur within 30 days of your expected arrival at a
city that is on your itinerary, and
-some exclude coverage if a “Terrorist
Incident” has occurred within the city or country within 6 months.
-All plans
require that the “Terrorist Incident” occur after you have purchased your
coverage. Like other forms of insurance, the terrorist incident must be
unforeseen when you buy your coverage.
What is less clear is whether
terrorism is also covered under the other coverages found in “Package Policies”.
In quite a few cases it isn’t. Many travel insurance plans have a general
exclusion for terrorism the effects all coverages with the exception of trip
cancellation/interruption or travel delay benefits. So when it comes to medical
coverage or accidental death, or flight insurance you probably will not be
covered.
As with everything else, it is best to be an informed consumer.
The best advice that you can follow is to research the available travel
insurance policies. And the best place to research travel insurance is on a web
site like http://www.quotewright.com. Sites like QuoteWright, allow you
to compare plans on a side-by-side basis and to view actual policy wording.
Comparing policies and asking questions is the only way to find the policy that
is best for you and your trip.
About QuoteWright:
QuoteWright is a
division of the BC Group, LLC. of East Hartford, CT. BC Group, LLC. is a
licensed insurance agency that specializes in travel insurance coverages. It was
established in 2001 and is headquartered in East Hartford, CT. Ever since its
creation, it has been assisting consumers in finding appropriate travel
coverages. BC Group is highly integrated with their partners and offers
coverages from the major travel insurance companies. The principals of BC are
nationally known and respected experts in the field of travel insurance and have
over 80 years of combined experience. Interested parties can find BC Group at www.quotewright.com or by calling them at
800-821-4940.
QuoteWright is a trademark of the BC Group, LLC.
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Source : http://www.prweb.com/releases/2005/7/prweb259841.htm