Everything You Need To Know About Booking Your Travel Insurance!
Travel Insurance is a fundamental part of booking a vacation. Just as you will have accommodation booked in your destination, travel insurance must be planned before you travel and is essential to taking a safe, perfect vacation.
It’s easy to dismiss the value of travel insurance until you need it, and many travelers have mixed opinions on whether you should purchase insurance before traveling.
It is better to have travel insurance and not need it than need it and not have it.
Plus, we’re focused on ensuring your vacations are STRESS-FREE from the moment you book with us – so having travel insurance is essential for making that happen.
Navigating travel policies can be tricky – we get it – and you might have a range of questions about what policy to take out, how much travel insurance is going to cost you, what exactly is covered, and when to purchase it, etc.
This post will run through the most common questions you will likely have about travel insurance so you can feel confident with what you’re purchasing!
We’re stoked you’re reading this article and learning how to protect your precious investment in an Authenteco Vacation. We need you to keep in mind that we legally do not represent Allianz or any of the other mentioned insurance policy providers and can’t guarantee this information will be upheld by their policies. We are sharing our secret tips and insider knowledge to help you best prepare for your trip!
Anna and her partner on a family vacation in Montana
Why Do I Need Travel Insurance?
Travel Insurance is financial security against things that may happen before or during your vacation that prevent you from completing it. It provides you with medical coverage if you get sick or injured on your journey, reimbursement in the case where issues arise like flight delays and theft, and it will help you get your money back if something unforeseen happens before you depart – all while not putting the businesses you supported out of pocket.
To put it simply, travel insurance is protection against unforeseen emergencies.
This is why it is the #1 thing you need to book if you take an Authenteco Vacation.
Why? To protect you and our small business in the unlikely case something happens and you need to cancel your trip.
Life was unpredictable before the pandemic but is even more so now, and you’ve worked so hard for the money you’re entrusting us with to plan your perfect vacation.
We want to ensure that you’ll get as much of it back as possible if you can't go!
Once you book a trip with us and pay your 50% deposit, we immediately start making bookings on your behalf for airfare, accommodations, adventures, transportation, etc.
One of the unique things about our business is that we support other small & local businesses when we book your vacations. After dealing with COVID-19 for the past two years, canceling your trip can put a great deal of strain on these businesses, and most of them have extremely strict cancelation policies that prevent this sort of damage from happening to them.
If you cancel the trip, we can’t get your money back!
Travel insurance enables a win-win situation! Small businesses get to keep the cash flow they were counting on, and you get your money back! How great is that?
Girls trip to Colorado unboxing their custom travel gift box and magazine
What Type Of Coverage Do I Need?
Great question!
When approaching travel insurance, it can often feel overwhelming and daunting. There are so many companies out there offering dozens of different policies, and you want to ensure you pick the perfect one that will give you maximum coverage for minimum cost!
We understand completely.
That’s why, as a general rule, we require everyone to be covered for a ‘Cancel anytime‘ or commonly known as ‘cancel for any reason policy’ (a CFAR policy).
Cancel for any reason is an upgrade that allows you to - wait for it - cancel your trip for any reason.
This is great in today’s unpredictable world!
Generally, policies that fall under this category will be able to provide you with anywhere from 50 to 75% reimbursement of your non-refundable trip costs if you need to cancel for any reason before you travel. However, with our provider, Allianz, you are entitled to the highest reimbursement in the entire industry, up to 80% of your total trip cost! This is great compared to other policies where you are only eligible for reimbursement if you are canceling for a select reason covered by your plan (generally extreme emergency situations).
You will be able to check out the specific amounts when choosing your insurance provider.
When purchasing a CFAR plan, you can cancel for any reason at all, including but not limited to:
Worries or fear of traveling
State Department travel warnings
Government travel bans
CDC Alerts
Not feeling up for your trip
Epidemics / Pandemics
Relationship issues
+ so much more!
Just note booking a CFAR policy is time-sensitive, and there are eligibility requirements, so not all travelers will qualify.
Providers often require CFAR purchasers to insure the entire dollar amount of their travels to receive the coverage. Also, many CFAR policies mandate that you must cancel your plans and notify all travel suppliers at least 48 hours before your scheduled departure.
Gracie and Caleb on their honeymoon in COlorado
What Will My Travel Insurance Policy Cover?
There are various reasons why you may need to utilize your insurance policy.
The list below is just a general guide to the most important reasons you need to have travel insurance.
Your destination requires it! Many destinations around the world have strict COVID-19 entry requirements, and one of these is being able to present a valid travel insurance policy upon arrival. This helps protect you in case that you get COVID-19 while traveling in a foreign place.
Last-minute cancellations. Having a ‘cancel for any reason’ policy ensures you are covered and can be reimbursed for your trip if you have to cancel your trip. Cancel for any reason protects you but also means the small businesses booked on your behalf won’t be damaged in the process.
Sickness or injury while on vacation. If you get sick or hurt when you're far from home, travel insurance can reimburse you for care if required in a medical emergency. It can also reimburse you for the remaining trip duration if you cannot continue your vacation. There are often specific circumstances that qualify as an emergency, so please be sure to read up on your policy before you go! Or, check out Allianz for more information.
Loss or theft. Many full-coverage policies will cover you for the loss of an item – whether this is your fault or someone else’s. In many circumstances, travel insurance can reimburse you for loss, damage, or theft of baggage and personal items while on vacation if this is the case.
Itinerary date or detail changes. Sometimes, you may need to change the details of your trip before or during your travel. If this is the case, travel insurance can reimburse any fees you are charged and cover any issues that may arise with cancelation policies.
When you purchase travel insurance, you are protecting yourself against travel risks. As the saying goes: ‘it is better to have it and not need it than need it and not have it.’
Jen, Lori & their husbands on an amazing bestie’s vacation to Montana!
How Soon Do I Need To Book My Insurance After Booking My Vacation?
We require you to secure your travel insurance within 14 days of putting down your 50% deposit at the latest but within 24 hours, preferably.
This is so that every cent of your hard-earned money is protected if something happens and you cannot take your trip.
This is also a requirement of most CFAR policies.
Don’t worry – this is still a stress-free process. We will walk you through everything you need to know, including a how-to video on purchasing your policy.
We’re a concierge service, and we’ve got your back!
How Much Will Travel Insurance Cost Me?
The price of an insurance policy varies greatly depending on how many people are traveling, your destination, your travel details, the overall cost of your vacation, etc.
Generally, you should expect a travel insurance plan to cost anywhere from 4%-10% of your total trip cost.
For example, if you purchased a trip costing $10,000, travel insurance policies will likely range from $400-$1000, depending on your specific travel details. Additionally, if you purchase CFAR insurance, you can expect 7-10% of your total trip cost. While this is more expensive, it is 1000% worth it and necessary in today's volatile travel environment. Just ask a few of our travelers who had trip changes in 2021!
We recommend Allianz unless your trip costs exceed $10,000 per person and per vacation. If this is the case for you, see the table below for further recommendations!
Abbie and her friend Meghan enjoying a horseback ride in Montana!
Okay, But What About COVID-19? How Does That Work With Travel Insurance?
There are various aspects to consider if you’re traveling right now, and we want you to be covered for all of them.
For instance, you might be concerned about contracting COVID-19 before you depart, throughout your vacation, or being unable to travel due to another outbreak and restrictions.
This is why we require you to purchase a CFAR policy. CFAR policies cover you in the unlikely event that you must cancel your trip for any reason – including COVID-19.
Travel insurance providers have had a hard time keeping up with the new and ever-changing world we now live in, which is why it is incredibly important to book with a reputable company like Allianz that considers COVID-19 in their policies.
Tres and Erin enjoying a romantic getaway in Utah!
Who Do I Need To Insure On My Policy?
When you purchase travel insurance through Allianz or one of our other recommended providers, your insurance company will only cover those whose names are listed on the insurance policy.
This means that if you are a group of friends, or several families traveling together, each individual or family needs to purchase their policy to be covered.
This also goes for traveling with children under 18 years of age.
We always advise you to read through your plans and policies before purchasing your policy to ensure everyone traveling is covered.
What Isn’t Covered In My Travel Insurance Policy?
Great question!
Unfortunately, there are some instances where travel insurance does not cover you for specific incidents.
While these are few and far between, they are essential to keep a note of - and be honest about - when purchasing your policy.
For example, expenses related to pre-existing medical conditions are sometimes not covered or may require an excess fee upon purchasing your policy. We have found Allianz to be one of the best companies for covering pre-existing medical conditions. We highly recommend contacting them if you have any concerns or queries about your medical condition.
Another situation where you may not be covered is a non-emergency medical expense while on vacation. For instance, purchasing new eyeglasses or contact lenses, routine medical check-ups, or cosmetic procedures. The Allianz website details what expenses may or may not be covered while on vacation, so please make sure you read through this.
Veronika on her solo trip to Oregon!
Is There A Limit To The Total Cost That Can Be Covered?
Yes! Unfortunately, all insurance companies have limits on how much can be covered.
This means you can insure the total amount of your trip in the unlikely event that you need to cancel and claim reimbursement under a CFAR plan.
If your vacation costs exceed $10,000 per person, you will need to go with a provider other than Allianz.
So, let’s say you have booked a fantastic Authenteco Vacation to Alaska, where the minimum cost of a trip is $30,000. You will need to purchase an insurance policy that covers you for the total value of that trip – rather than a policy that covers you for only a third.
Thankfully, if this is the case, there are several other brilliant insurance providers we recommend . . . and we have compiled a list of them below!
Will You Help Me If I Have Questions?
One of the only things we don’t do for you is book travel insurance on your behalf! And we have a good reason for it; we want you to be educated about your chosen policy and provider!
We don’t want you to feel any pressure to book with the provider/policy we recommend because everyone is different, and this is the hard-earned money you’re choosing to spend on a perfect vacation with us.
Therefore, we want you to feel 100% confident and protected with your Travel Insurance provider. Suppose you have questions on how to book, who to book with, or the policy to choose. In that case, we are always here to guide you every step of the way [but remember, we aren’t legally held responsible for your insurance policy ;) ].
Feel free to text our concierge anytime at 720-902-3972, and we will help right away!
