Is travel getting riskier? Whether traveling for business or pleasure, travel is riskier than ever. Take the recent case of the man in Phoenix for the Fiesta Bowl who was carjacked and shot by a group of local teens. A survey cited in Business Travel News by International SOS, a travel risk-management firm, found that over half of travel managers reported increased business travel risk in 2019, and almost half believed travel risk will increase in 2020.
Security threats, civil unrest, and even weather-related risks can cause travel problems at home and abroad. A travel insurance policy can help ensure outside help if you become sick or injured while traveling on vacation or business.
Business travelers face different concerns from those traveling for pleasure; however, the risks are similar. Travel insurance can help protect you against last-minute trip cancellations and lost luggage. Some policies offer kidnap and ransom coverage, repatriation in case of injury or worse, and expert help in medical emergencies.
Consider this. You’re in Cuenca, Ecuador, and fall, suffering a compound leg fracture. Who is the best doctor in Cuenca to repair your injury? Should you have the injury stabilized in Cuenca and then travel elsewhere for further treatment? What if, after a serious injury, you need to return home for treatment? The right policy can offer emergency medical assistance and response. Highly trained medical and security personnel can direct you to the appropriate medical treatment and, if needed, return you to the US for care.
Usually, travel insurance is inexpensive. The rates vary based on the travelers’ ages, the deductible and coverage limits you select, and where you travel. While travel insurance websites offer online quotes, it’s better to work with an experienced agent to determine the broadest coverage for the best rate.