Friday, March 30, 2007

Insurance



There are lots and lots of different types of insurance out there. Sometimes having that additional insurance can simple make you feel more secure. For example if you carry a lot of debt and are worried about loosing your job you may want to consider unemployment insurance thats independent from what the state forces your employer to pay. Our local unemployment office pays a maximum amount of 250 dollars a week to an unemployed individual no matter how much money they made prior to that.

Dental insurance is another one. Dental car is very expensive and fewer and fewer employers are offering it so you may want to pay for a policy yourself.

Another one that I had never heard of until recently is travel insurance. Travel insurance policies cover the basic costs that arise when a traveler is forced to cancel his or her trip. Since many airlines and cruise lines have nonrefundable policies, this travel insurance could potentially help a traveler recover thousands of dollars that would otherwise be lost.

Unfortunately, there are events that come up in life that make it impossible to keep reservations. Illness or accidental injuries are a couple of reasons why a trip may have to be delayed. Imagine a broken leg in advance of your next ski trip. With travel insurance, the traveler will not be out any money and is free to reschedule their trip at a later time.

In addition to recovering the fees for having to cancel a trip, travel insurance can cover a traveler financially from other difficulties. An actual illness or injuries that occur during the trip can be particularly difficult to handle. Dealing with a foreign health care system can be very expensive. Another problem that most people do not realize is that most medical insurance companies do not offer coverage for their insured when they are out of the country.

Being able to seek medical attention in another country can be beneficial, but it can also be frightening. Travel health insurance can even help to cover the costs of medical evacuations back to the United States from foreign countries. These evacuations can cost close to $50,000 in addition to the lost expenses of canceling a vacation early.

Of course, less catastrophic events can still make traveling uncomfortable. Flight delays and lost luggage can cause their own kinds of financial difficulties. Missing a layover because of plane delays will generally require some rescheduling fees that must be paid by the traveler.

Having to replace personal items while waiting for lost luggage is another unplanned expense that is fairly common. Travel insurance can provide a traveler with the funds they need to use to replace necessities, until their lost luggage shows up.

When my husband lived in Florida and had several employees working for him there he had to carry Florida Business Insurance to cover both him and his employees.

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