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Going On a Trip? Pack a Policy!

June 21, 2016
Buyer Friendly

If you’re planning a vacation, you will want to look into getting trip cancellation insurance.  Like most types of insurance, it’s designed to help cover unexpected costs due to unforeseen events.  This type of travel insurance will help you go on vacation without a hitch and if something does happen and your trip doesn’t go as smoothly as planned, it will pay for expenses incurred.  

What does trip cancellation insurance cover?

Whether you’re travelling domestically or internationally, trip cancellation insurance will help to reimburse the costs if for some reason you are unable to make your trip or if the trip is cancelled.  There are a variety of reasons travellers may cancel their plans for a trip ranging from personal injury, death in the family, or the loss of a job.  On the other end of the spectrum a planned vacation may be cancelled due to unfit weather conditions.

It doesn’t matter if you are enroute or still at home, this type of travel insurance can reimburse the costs of your tickets and hotel accommodations, as well as the costs to rebook all or a portion of your planned trip.  The type of trip cancellation insurance and the amount of deductible can vary so be sure to read the fine print and talk to your MIG Insurance broker. 

How to make a claim.

Most insurance providers have a 24 hour customer service telephone number. In not, they will most likely have an emergency hotline number you can contact.  If you are unable to travel, or the airline cancels your trip, the first call you should be placing is to your insurance company.

They will most likely ask you for proof of payment before they will reimburse you for a vacation that has already been paid for.  If you need to rebook your trip you may be able to complete this right through your insurance company, or they may require you to book the trip, show proof of payment and then you will be reimbursed fully.  This will depend on your insurance provider as well as the type of coverage you carry.

Can a claim be denied?

The short answer to this question is yes.  Just like other types of insurance, your claim will need to be submitted to the provider and reviewed by an adjuster before it will be paid out to you.  Paperwork will need to be submitted and information from the airline will need to be verified. 

There are several reasons a trip cancellation insurance claim may be denied.  It can be simple as missing documentation or your insurance policy doesn’t cover the reason for your cancellation.  It is important to note that your travel cancellation insurance doesn’t automatically cover all types of scenarios so review with your MIG Insurance broker to make sure you understand what is covered and what’s not. 

If your trip is cancelled by an airline, train, or boat company and they have covered some (or all) of your costs, you wont be reimbursed by the insurance company.  To take the doubt and uncertainty out of your mind when booking an expensive vacation, talk to your MIG Insurance broker and put your mind at ease today.

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