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8 Dec 2022
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Madeira Beach Vacation Tips

First, lets talk about the basics.

What is Travel Insurance?

Travel insurance is a one-time fee that acts as a contingency in case travel plans have to cancel, or in some cases change. It is typically provided through a third-party service and added to the total fee of your rental plans.

What does Travel Insurance Cover?

As with the number of charges each insurance plan can offer, the instances that are covered vary. Most typically companies will only cover acts that are completely out of your control. This includes but is not limited to:

-       A named Hurricane

-       Destruction or uninhabitability of rental property due to natural disaster

-       Uninhabitability of your primary residence or your traveling companion’s primary residence caused by a natural disaster

-       Severe sickness, injury, or death of yourself, a family member, or a traveling companion

What does travel insurance not cover?

To put it simply travel insurance will not cover events that do not classify as an emergency. For example, fear of travel during the pandemic, and government shutdowns did not classify as events that would trigger coverage. You want to be sure to carefully read the terms of your insurance agreement before signing up. There are plans that allow you to cancel for any reason, though they can become expensive quickly, sometimes equating to 10% of the overall rental.

 What charges can Travel Insurance Cover?

Insurance plans vary depending on the service you choose, or what your rental company provides. SunHost Resorts uses SunTrip Preserver. The insurance can cover up to

-       $100,000 in reimbursements for rental costs

-       $200 a day reimbursement for travel delays (such as hotel costs)

-       Up to $25,000 in medical expense coverage

-       $1,000 coverage for baggage delays

Some travel insurance plans even claim to cover miscellaneous fees such as TSA pre-check and car travel insurance.

Is Travel Insurance worth it?

To put it simply, Travel insurance is no different than regular insurance. The plan you choose is typically only worth buying if your vacation plans fall apart. Certain times, such as hurricane season, a pandemic, or fear of a future life-altering event can make travel insurance worth your while. Think of it being similar to a contingency gamble; if you’re willing to pay the extra money it could pay off.

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