When planning to charter a sailboat, it is important to carefully assess the risk of any potential issues or problems along the way? Emergencies and mistakes do happen, but should you purchase travel insurance?
Many people assume there won’t be any significant problems during their holiday and therefore do not bother to purchase travel insurance. But, in certain situations travel insurance could make all the difference.
Travel insurance is definitely an additional cost to your trip, but with the costs of flights and the actual sailboat rental, it is not worth the risk of traveling without insurance.
So why is purchasing travel insurance a wise decision? Anything can happen when going on holiday. You might have medical expenses, baggage loss, delays or any other unforeseen circumstances, which may cause you to cancel your trip.
When purchasing travel insurance, it is usually sold in packages. There are different groups of coverage and these will allow you to determine what you need and what you do not need, either because you are not at risk or because you are already covered. There are certain companies that allow you choose what you want covered instead of purchasing a complete package.
Accidental Death and Dismemberment
This might not be something that you want to think about when planning your holiday, but it is important nonetheless. Maybe you already have life insurance but AD&D insurance provides a lump sum payment if death or dismemberment is the direct result of an accident, which is more likely to be the case when on holiday.
Travel Protection
This type of insurance offers reimbursement for prepaid reservations if the trip is cancelled. Be sure the check with your credit card company. Certain credit card companies provide similar coverage.
Emergency Evacuation
Without emergency evacuation coverage it can cost you an arm and a leg to be evacuated from a distant land. It all depends on how likely the scenario is. If you feel like it is worth the money, then why not? You might not need an emergency evacuation but if you do, you could go bankrupt doing it without coverage.
Medical
Check with your regular medical health insurance. Your plan might not provide coverage while you are abroad. You will need to verify the specifications of your regular coverage, and usually it will suffice for your trip abroad unless you plan on participating in high-risk activities. In that case, you might need to purchase additional medical coverage.
Baggage Protection
Again, check with your credit card company to see if they have any baggage protection. Legally, airlines are required to reimburse you for loss or damaged items, with restrictions. If you are renting a sailboat, however, the airline is not responsible. Check with other insurance companies to see what their policy covers. It is also possible that your yacht charter company may provide baggage protection and other coverage as well.
Is it worth it to purchase travel insurance?
If you are a worrier, it might be beneficial to purchase travel insurance so that you can really relax and enjoy your trip. If you feel you might be paying more than what it is worth, it might be best if your forego the travel insurance altogether. Regardless, check with your charter company, credit card company and regular medical insurance to review your coverage.
