Travel Insurance and Airline Default Protection
QuoteWright.com, a leading online travel insurance provider, reports that one of the most frequent questions from consumers concerns the financial default coverage found in most packaged travel insurance plans.
(PRWEB) May 16, 2005 -- “During the past few weeks we have been receiving
more and more phone calls from consumers concerning the financial default
protection found in travel insurance and whether or not they can be protected if
their trip is cancelled or interrupted because of an airline bankruptcy” said
John Cook, President of QuoteWright.com. “In today’s delicate financial
environment, consumers should consider ways to protect themselves from possible
travel disruptions due to airline bankruptcies or strikes. Travel Insurance is
one consideration. But there are a couple of guidelines that consumers should
follow in order to ensure maximum protection. Consumers should:
1. Buy
travel insurance from an independent source rather than from the travel
provider. Travel Insurance policies offered by tour operators, cruise lines, or
airlines either don’t cover their own financial default or they exclude the
financial default of the company from whom you purchase your coverage.
2.
Check the insurance plan to see if they have a list of airlines or travel
companies that they either will or will not cover. One company, Access America,
provides a list of companies they will cover while two other companies, Travel
Guard and Travelex, provide a list of companies they will not cover.
3.
Buy travel insurance very soon after they make a deposit. Default protection is
only available if you purchase your travel insurance within 10 to 21 days of
your initial deposit. The time period varies with each company and plan so our
advice is to do it within 10 days to ensure that you have the maximum
flexibility.
4. Review the coverage carefully. Some plans will have a
“waiting period” after the coverage is purchased before the default coverage
goes into effect. In some cases this is 14 days after you buy the insurance.
Another reason to buy coverage early.
5. Buy your trip or airline ticket
through a travel agent. Some insurance plans exclude coverage if you have
purchase your trip directly with the travel company. Most travel insurance plans
will not, however, to have the maximum flexibility you should purchase your trip
through a travel agent, whether locally or online, rather than buying
direct.
6. Always use a credit card for the payment of your ticket or
trip. In the event of a default you might be able to dispute your charge and
have the credit card company remove it from your billing. This is fine if it
happens prior to your trip but doesn’t help much if you are traveling at the
time of the default. If that happens other airlines might offer you an
alternative on a standby basis but it can still result in delays and additional
expenses that would be covered by many travel insurance policies.
These
are all ways that a consumer can minimize their risks. You can never eliminate
all risks but you can take prudent measures to minimize them before you
travel.”
About QuoteWright.com
QuoteWright.com is a division of BC
Group, LLC. It is an on-line travel insurance comparison site that provides
consumers with the ability to compare and select the plan that is best for their
travel needs. BC Group is highly intergraded with their travel insurance
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 http://www.quotewright.com or by calling them at
800-821-4940.
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Source : http://www.prweb.com/releases/2005/5/prweb240351.htm