xmlns:og='http://ogp.me/ns#' World Toddler: Around the World Trip Insurance

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Monday, November 30, 2015

Around the World Trip Insurance

Annual trip insurance is a great concept for frequent travelers: 1 policy (and 1 premium) covers you for all the travelling you do for the entire year.  You don't have to worry about getting new policies every time you go on vacation.  Here's the problem for people travelling around the world: annual policies only cover trips lasting 90 consecutive days or less.  This limitation is often set out in fine print In the description of benefits, which might easily be overlooked.  In fact, annual insurance is intended for people who plan to travel a lot, but for only relatively short periods of time, over the course of the year.

Long-term travelers must purchase Single Trip Insurance. The insurance companies define a single "trip" as the time between your departure from and return to your home town.  Thus, our 6 months of travelling constitutes a single "trip" in insurance lingo, as we will not be returning to the United States at any point during our travels.  We do not need to insure each individual segment of our travel, but just the entire "trip" under one plan.  You can only insure up to the dollar amount of non-refundable expenses paid before you leave for the trip.  You cannot add coverage once you've set out on the trip.  So for instance, if, after departing for Argentina in February, we decide to add a week long river cruise through France in June? We cannot insure that cruise through an existing travel policy.  This means it's best to book and pay for all non-refundable components of the trip before leaving for the first destination.  This may mean decreased travel flexibility and additional planning, but will ensure you can properly insure your travels.

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