Do you really need trip insurance? The short answer is Yes.
Planning a trip is an investment, so protecting a trip against the unexpected is always a smart choice. There will continue to be things outside your control and ours, especially in today’s ever-changing environment. Protecting yourself against the unknown and having a solid Plan “B” in place just makes sense. Here’s a quick primer answering some frequently asked questions.
WHAT EXACTLY IS TRIP INSURANCE?
Essentially, travel insurance serves two purposes (both financial). The first is to protect the cost of your trip in the event that you need to cancel. The second is to cover future potential costs because of unforeseen events or trip interruptions —for example, the cost of medical evacuation, should you get injured during your trip.
HOW MUCH DOES TRIP INSURANCE TYPICALLY COST?
Travel insurance costs can vary, but typically expect to pay between 4 and 8 percent of your total trip cost.
WHAT DOES TRIP INSURANCE COVER?
Trip insurance covers a broad range of trip cancellation or interruption benefits. Some examples include being diagnosed with an illness (including COVID-19), business duties, storms, lost or damaged luggage, missed connections, injuries, evacuation costs and more.
WHEN SHOULD I PURCHASE TRIP INSURANCE?
Many policies can be purchased up until 30 days before your departure. However, we always suggest purchasing trip insurance when you put down a trip deposit in order to obtain the maximum benefits (ie – coverage for pre-existing medical conditions).
WHAT TYPE OF POLICY SHOULD I BUY?
When traveling on a MOJO Adventure, we recommend using one of our preferred providers. We have vetted two companies, Travelex and Redpoint. You can learn more and obtain sample quotes on our INSURANCE PAGE.
WHAT IS “CANCEL FOR ANY REASON” COVERAGE?
As the name implies, Cancel For Any Reason coverage is a specific policy addition that allows you to cancel your departure without having to worry about exclusions or justify your reasoning. However, here are a few important caveats you need to be aware of with CFAR coverage.