Insurance Packing List for Your Next Vacation
Recent advertisements and articles have shocked the nation with reports that Americans use less than half of their allotted vacation days. In order to indulge in the luxuries a vacation brings, you must first organize and plan the experience, which can seem daunting. There are numerous decisions to be made such as booking airfare and lodging, but eventually you reach your intended destination and the relaxation and adventure begins. In the midst of deciding where you and your family would like to vacation, Swingle Collins & Associates would like to encourage you to meet with your trusted insurance advisor to review your coverage in order to ensure that your experience is safe and fully covered.
In many cases, your current insurance policies may provide adequate coverage for your trip. For example: most personal liability coverage for bodily injury, personal injury and property damage you cause, is provided no matter where you are in the world.
Most personal property coverage will cover up to 10% of loss for personal property that is away from the home and additional coverage may be purchased to cover 100% of loss and damage. Also, depending on the type of auto insurance policy you have, you may or may not be covered while driving abroad. It is important to review this as you may encounter a situation where this could be financially detrimental.
Further coverage options to consider:
Emergency medical coverage – In the event that you or a family member is seriously injured, emergency medical coverage will provide and cover the cost of a Medevac to airlift you to the nearest location equipped with modern medical care.
Evacuation repatriation – Similar to the above, evacuation repatriation insurance will provide and cover the cost in the event that you or a family member is in critical condition or deceased and needs to be transported back to the United States.
Valuable articles insurance – If you are traveling with a large amount of valuables (such as jewelry, guns or other expensive sporting equipment) it is highly recommended that you schedule each valuable item or purchase blanket coverage throughout the duration of your trip. These can be purchased with no deductible and full replacement cost valuation.
Watercraft insurance – When renting a jet ski or boat while on vacation, check with your insurance advisor to see if the watercraft’s size, horse power and length of time rented is covered, as many personal liability policies have limitations on these specifications.
Luggage delay insurance – Although losing your luggage is always a pain, with luggage delay insurance you can receive full reimbursement cost of what has been delayed until its arrival.
Kidnap & ransom insurance – Kidnap & ransom insurance may be a piece worth exploring depending on the destination of your vacation. If you or a loved one is kidnapped, the kidnap portion of this policy will cover the cost of the hostage negotiator and after paying for the allotted ransom amount, you can be fully reimbursed.
Swingle Collins & Associates also encourages each traveler to consider these few non-insurance based recommendations:
Bring minimal jewelry on all vacations.
Pack all jewelry, medicine, money and other valuables in your carry-on luggage.
Upon arrival, immediately put all valuable articles in the hotel safe.