Travel insurance is a coverage that i have always found to be undervalued. We think about it when going on vacation, but there are so many other applications that we tend to forget about. My marketing rep from Travel Underwriters sent me a great little story about a claim made to a Canadian while on vacation that I wish to share with you.
It's never easy to sell intangible products. As clients we are often unable to grasp the importance of the product, whether it's optional coverage on their home insurance policy or a travel insurance package, unless we've experienced the benefits first-hand. So how do I, as an insurance broker demonstrate these 'intangibles' to you?
"Take, for example, the case of a 55 year old Travel Underwriters claimant from Lynton, Alberta. While working at his winter home in Mesa, Arizona, he amputated three fingers with a band saw and required immediate emergency medical attention. He was rushed by ambulance to the local Valley Lutheran Hospital, where medical staff performed surgery to reattach his fingers.
His travel insurance plan covered the cost of surgery, his three-day stay in the hospital afterward, as well as the ambulance service and necessary prescriptions upon release. Not only were the medical expenses covered, his Travel Underwriters insurance policy also covered the $1,600 return of his vehicle by a commercial agency to Canada, since he was unable to drive back. The total claim amount was in excess of $39,000 USD, with only $400 CAD being covered by his government health insurance."
I just heard today about a $350,000 Euro claim for a business client who went to Greece, had 2 strokes which were related to Leukemia. He was in hospital for 4 month and had to be flown home by private jet.
For the low cost of coverage (unless provided for in your group health/dental plan), it make a whole heap of sense to get travel insurance prior to your next trip.