Purchasing travel insurance to protect your investment is a given, however all travel insurance is not made equal. Insurance offered by travel suppliers is typically not as inclusive as consumers are led to believe because they generally side with the supplier and not the consumer. So if the trip is cancelled, interrupted or has snafus along the way, the consumer is rarely compensated. And if those issues arise due to events that are deemed out of the suppliers control (i.e. civil unrest, acts of God, etc) they will not be held responsible and therefore will not reimburse any passengers. For those problems that are the fault of the supplier the consumer is usually compensated in the form of a voucher or credit and not cash. On the other hand, third party insurance companies only sell insurance and therefore cater to the consumer. These policies generally cover more than the supplier insurances such as emergency medical evacuation and events that occur out of the control of the supplier. The coverage also begins when the consumer leaves their home and continues until they return home for problems such as missed connections and baggage issues. And all reimbursements through third party suppliers are cash.
And that’s your MJST Prep School Lesson for the Week
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