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It is advisable to have a Trip
Cancellation Insurance should you pay a lot of money for a trip that
is non refundable should you cancel it for any reason because a Trip
Cancellation Insurance covers you if unforeseen events cause you to
cancel or interrupt your trip. Usually, this coverage is meant for
illness, injury or death suffered by the insured or a member of the
insured's immediate family or in the event that you pre-pay a cruise
or tour that gets cancelled and you cannot get your money back or
bad weather makes travel impossible. This type of insurance covers
you for the period of time before you travel and it will reimburse
you for any prepaid, non-refundable expenses such as airline tickets
or hotel charges that you will not be able to use since you had to
cancel the trip.
Some policies may also cover
cancellation in the event of illness, injury or death to the
insured's travel companion. Most policies exclude trip cancellation
in the event of war or other hostilities such as terrorism, natural
disasters and bankruptcy of tour operators. Certain policies may
also exclude travel to specific destinations which are prone to
political unrest. Sometime you must first seek reimbursement from
the trip provider before the insurance company will consider the
claim. It is important to know that many policies specifically
exclude pre-existing conditions or injuries sustained during high
risk activities such as bungee jumping are also usually excluded.
Insurer also excludes pregnancy from coverage. This is usually the
most useful type of travel insurance because it cover losses that
are usually not covered by most travelers' existing coverage. Trip
Cancellation Insurance and Trip Interruption Insurance are often
bundled and sold as a package. |