Posts in September 2018
You might think the two largest decisions you need to make when booking a trip is how you’re going to get there and where you’re going to stay. Whether or not you buy travel insurance is another question worth asking. In many cases, getting travel insurance is a good decision to cover your non-refundable travel expenses. I’ll explain why.
When to Buy Travel Insurance
While you’re never required to buy travel insurance, it’s a good idea for more expensive trips. The last thing you want to see is thousands of dollars in non-refundable purchases evaporate because of an unforeseen event.
You can follow these below tips to you help you decide when travel insurance is worth it.
Book Within 15 Days of Trip Purchase
To qualify for full coverage, you almost always have to buy travel insurance within 15 days of booking your trip. Waiting until the last minute to add a policy gives the impression to the insurance provider that you’re trying to game the system.
Hurricane Florence will affect the U.S. east coast later this week with significant damage to property and resulting business disruption. Businesses far-removed from the impact zone also will be affected as manufacturing, retail, travel and supply chains, among other industries, are disrupted by the physical damage. For those in the impact zone, knowing the fundamentals about your property insurance is critical. For those in remote locations, now is a good time to refresh yourself as well, since post-storm disruptions and losses require prompt notice to insurers and fast action to help mitigate any resulting loss. A failure on either front could jeopardize coverage.
In a Hurricane Preparedness Client Alert published yesterday, the Hunton Andrews Kurth insurance team provides sage advice for any business that might experience damage or disruption, whether direct or indirect, as a result of Florence’s landfall, as well as a summary of the many types of coverage typically found in a commercial property policy.