THOUGHTS ON TRAVEL INSURANCE

You might be skeptical in getting travel insurance simply because he thinks that it is a waste of money which can be used for something more urgent or important. However, we can never really say what will happen and it is good to be insured. In the events such as accidents, trip cancellations and lost luggage, insurance policies can really be handy. Getting vacation insurance is the first step that should be taken when planning a trip.

Travel insurance is offered for cruises, tours, flights and vacation home rentals and can cover:
Medical:

There is nothing worse than being sick when you are supposed to be on vacation. Medical travel insurance pays for doctor visits and illnesses that occur during your trip, such as treatment for malaria or food poisoning, prescription drugs and laboratory work to diagnose illnesses. Policies cover local ambulance service and emergency medical situations that require surgeries (and often exclude pre-existing conditions). What it will not cover is a routine physical exam, mental health care or replacement of hearing aids, eyeglasses and contact lenses.
Emergency evacuation also covers a flight home if you became seriously ill or injured.
Emergency evacuation:

Typically, coverage includes airlifts from a mountain due to a skiing or hiking accident, or a long-term stay at a foreign hospital. Emergency evacuation also covers a flight home if you became seriously ill or injured. When traveling to a foreign country, bring copies of your medical records with you and consider an evacuation policy in case you develop a serious medical condition.

Trip cancellation:

If your cruise line or tour operator goes out of business, trip cancellation provides coverage if you must cancel a trip due to sickness, a death in the family, or another event that would prevent you from going on your trip. The policy reimburses you for the unused portion of the vacation if you or an immediate family member becomes seriously ill.

Travel delay/trip interruption:

Tired of sitting in the airport? This reimburses you for any flight delays from 2 hours up. For example, AIG Travel Guard offers total reimbursement of your airline ticket for any delays that exceed 5 hours. If your flight is one to two hours late, you will be reimbursed 20 percent of the cost of the ticket. If the flight is 3 hours late, it goes to 30 percent and 4 hours, 40 percent. For more than 6 hours, you would be reimbursed 80 percent of the cost of the ticket. According to the Insurance Information Institute (III), trip-interruption insurance costs between 5 to 7 percent of the price of your trip.

Baggage delay:

If your personal belongings are lost, stolen or damaged during your trip this would pay replace them.

Dental:

If you chip a tooth during a trip, this covers all emergency dental procedures. You can purchase additional dental coverage to relieve acute dental pain and surgical procedures provided in a hospital. There may be limitations for the replacement of artificial teeth or repairing a crown.

24-hour traveler assistance, including hotlines/helplines and other support services: Provides 24-hour, 7-day-a-week telephone assistance for filing claims for lost baggage, emergency cash transfers, reporting credit card identity fraud to the right agency, message center, legal assistance (passport, visa, bail bonds), emergency translations and pre-trip assistance. Some policies even provide access to security profiles, which include up-to-date information about terrorism, kidnapping and political stability. Others might provide concierge services such as arrangements for escort/return home of children, arrangement for a visit to your bedside by family or friend, dining information and reservations, flower and gift delivery, sightseeing tour reservations, golf course information and reservations.

Accidental death dismemberment:

Provides compensation if you die or are permanently disabled during a trip. It includes accidental loss of life, limb or sight during your trip other than while flying.

Collision/damage coverage for rental cars:

Provides coverage for physical damage to, or loss of, an automobile rented from a commercial foreign or domestic rental car agency.

Flight accidental death:

Flight accident and/or "common carrier accident" insurance pays your beneficiary (or your estate if you do not name a beneficiary) a lump sum benefit that can range from $300,000 to $1 million when a flight accident or crash results in your death.

Repatriating a body:

Provides coverage in the event you die while on vacation and your remains have to be transported back to the United States. It can be very costly to have a body repatriated from one country to another, ranging well into the thousands. Repatriation can also be a lengthy process. Before a body can be removed from another country, it must have examination by a coroner (who signs a release and a noninfectious-disease note), an embalming certificate, passport or identity card, funeral director's declaration, embassy permit and other documentation. The coverage includes the cost of paperwork, a coffin and airfare that can range from $1,200 to more than $3,000.
Factors driving the cost of travel insurance include your age, the number traveling in your party and the type of insurance coverage you choose.

Medical

Travel insurance plans can also be designed to cover ones medical expenses if needed during the trip. There are also group health insurance plans which can be availed by a group. However, most of the insurance plans available today will only cover medical expenses in trips which are done inside the 'coverage areas.' It's best to be able to ask the insurance provider regarding these things before availing a medical travel insurance policy.

Accidental death during flight
Many insurance providers give accidental flight death insurance as a part of their insurance policies. Sometimes, they give it as an option.
Listed below are some tips on how one can go about availing quality and suitable travel policies for his trips.
1. Before getting a new travel insurance policy, one should double check his existing insurance policies. There might be some coverage with regards to traveling in the existing policies that one possess and it would be a waste of money to pay for something that has already been covered.
2. Know what is the best type of insurance is best for the trip. Getting a travel insurance is really dependent on the situation of the destination and the other factors that come into play such as one's age and health conditions.
3. Know the policy. One should know whether things like international coverage, emergency evacuation, accidental death, remains repatriation and family travel insurance are covered by the policy..
These are some tips on how to avail travel insurance. The point is life is unpredictable and it's better to have insurance especially for travel purposes. Insurance is a real must when traveling.

What is the co-op model?
It's a nonprofit, nongovernmental firm run by its members, the consumers. The details of how it will be set up have yet to be determined. But in addition to insurance, successful existing co-ops actually provide care, own their own hospitals and have dedicated multispecialty physician groups. The goal is to restrain costs and cover more of the uninsured.

Where are existing co-ops?
HealthPartners, based in Minnesota, and Group Health Cooperative, headquartered in Seattle, are considered two successful systems and serve more than 500,000 members.

What are the benefits of a co-op?
Unlike a public plan, government bureaucracy wouldn't be a factor, satisfying critics who want to keep Uncle Sam out of the health business.
Successful co-ops provide excellent health care while keeping administrative costs down. Depending on how it's set up, a national cooperative organization could also negotiate doctor and drug prices for its members. Critics say co-ops won't have the leverage of the government to drive costs down.

What are the drawbacks of the co-op model?
One fear, as voiced by the White House, is that it would take too long for these new organizations to become established and compete with private insurers. The model would most likely require an undetermined allocation of federal startup dollars.
Co-ops aren't free for consumers, and it's unclear how lawmakers intend to establish rates to make them affordable for the 46 million Americans who are currently uninsured.

SOURCES: The Commonwealth Fund, News Wire Services

EARTH QUAKE COVERAGE

Remember that earthquake damage are not covered by a standard homeowners policy. If you buy a house in a flood-prone area, you'll have to pay for a flood insurance policy that costs an average of $400 a year. The Federal Emergency Management Agency provides useful information on flood insurance on its Web site at FloodSmart.gov.

A separate earthquake policy is available from most insurance companies.

The cost of the coverage will depend on the likelihood of earthquakes in your area. In California the California Earthquake Authority (www.earthquakeauthority.com) provides this coverage.

Prescription for Healthcare Reform
Americans want healthcare reform, but they want to keep
their current insurance coverage and their current healthcare
providers. They do, however, want lower costs. A recent CNN/
Opinion Research Corp. survey revealed that eight in 10
Americans are satisfied with the quality of healthcare they
receive. About three out of four are happy with their overall
healthcare coverage. But satisfaction drops 52% when it comes
to the amount people pay for quality healthcare. About three
out of four are dissatisfied with overall healthcare costs.

How to file a homeowner’s claim

1. If you are the victim of a theft or your home has been vandalized or burglarized, report it to the police. Get a police report and the names of all law enforcement officers that you speak with.

2. Insurance policies place a time limit on filing claims. Find out what the time limit is. Ask questions: Am I covered? Does my claim exceed my deductible? How long will it take to process my claim? Will I need to obtain estimates for repairs to structural damage?

3. Take reasonable steps to protect your property from further damage. Save receipts for what you spend, and submit them to your insurance company for reimbursement.

4. You are going to need to substantiate your loss. Avoid throwing out damaged items until the adjuster has visited your home. You should also consider photographing or videotaping the damage. Prepare a home inventory, make a copy for your adjuster and supply him or her with copies of receipts from damaged items.

5. If your home is severely damaged and you need to find other accommodations while repairs are being made, keep records of all additional expenses incurred. Most homeowners insurance policies provide coverage for the “loss of use” of their home. However, many policies do NOT provide coverage for the additional living expense if a mandatory evacuation is ordered and there is no loss to your home.

6. Once your insurance company has been notified of your claim, the company is required to send the necessary claim forms to you by the end of a specified time period. (The time period varies from state to state.) Return the properly filled-out forms as soon as possible in order to avoid delays.

7. Your insurance company will probably arrange for the adjuster to come and inspect your home. Cooperate with them as they gather information. The adjuster cannot approve your claim, but the insurance company, in the determination of your claim, often uses their report.

Once you and your insurance company agree on the terms of your settlement, state laws require that you be sent payment promptly. In most cases, your claim will be processed quickly. If you have any questions about the claim filing laws in your state, call your insurance agent or your state department