Friday, December 5, 2008
Friday,
December 5, 2008
A majority of travelers dont fully understand what
insurance covers during their trips according to a national survey by an agents
group.
The telephone poll was sponsored by Trusted Choice and the Independent
Insurance Agents & Brokers of America
based in Alexandria, Va.
Conducted by International Communications Research, an independent research
firm based in Media, Pa., the survey contacted 1021 households
during the month of November.
People were asked if they thought their personal auto insurance would cover a
car rental for damages or other related expenses; if their insurance would
cover them for loss of luggage containing gifts; or if health insurance covered
them if they became ill or were injured while traveling.
Thirty to 75 percent of the respondents either did not think they were covered
or did not know if they were.
With so many people traveling for the holidays, it is imperative that they
understand their insurance needs and rights before leaving home, said IIABA
President and Chief Executive Officer Robert A. Rusbuldt.
He said IIABA advises that travelers consult with their Trusted Choice
independent insurance agent to discuss their current policies and what do to in
the event that they need to file a claim while on vacation.
Madelyn Flannagan, IIABA vice president for education
and research, said, Many consumers do not know when they may already be
covered or where they might have gaps while on vacation.
The survey found that about 75 percent of homeowners did not think or did not
know if they would be covered in the event the airline lost their luggage
containing holiday gifts.
Actually, most homeowners or renters insurance policies do provide worldwide
coverage for most belongings, IIABA said. Airlines have reimbursement policies
for lost luggage. Lost gifts purchased with a credit card may also have some
level of protection from the issuer. Before purchasing baggage insurance,
consumers should check their current policies. It may be a waste of money,
according to IIABA.
Nearly one third of consumers do not think or do not
know if their current policies cover them in a rental vehicle. In fact, driving
a rental car is considered to be the same as driving your own vehicle for
liability purposes, IIABA advised.
The purchase of liability damage waiver and collision damage waivers are often not
necessary, but IIABA said that consumers should consult their independent
insurance agent to find out whats best for their travel needs, especially when
traveling outside of the United
States.
The survey found that more than 35 percent of respondents did not think or did
not know if they were covered in the event they became ill or injured no matter
where they were located.
Most individual and employer-provided health and medical insurance policies
cover you when you are injured or become sick no matter where your injury or
illness occurs for short recreational trips, said the IIABA
The group said that in general, major medical health insurance plans sold in
the U.S. will provide coverage for emergency medical services you require while
traveling. Still, insurance companies cannot guarantee the quality of care that
is available wherever you travel and some policies have territorial
restrictions.
Posted by The Howes
Insurance Agency at 1:01 PM
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