Travel Insurance
Additionally there are certain situations in which we would strongly advise getting insurance. If anyone in the group has any health concerns, either for immediate family members or themselves, they should purchase insurance. Most good travel insurance policies offer pre-existing condition waivers. Anyone chartering in the Caribbean from July through October should buy travel insurance that covers named storms, but be sure to read the fine print carefully—many policies have loopholes. Some yachts require the purchase of insurance if chartering during hurricane season.
In general, we always suggest trip insurance to our clients. The charter fee is non-refundable unless the exact dates are rebooked (or prorated for any portion rebooked). There are a few different scenarios where insurance can be very useful. One might be that you live in the Northeast United States, a major snowstorm cancels flights for two days, and you cannot get to the boat until Day 3. Clients usually can't just stay longer if they need to be back to work, so being refunded for the unused days is a big relief.
Clients with medical conditions are aware of how important insurance can be in terms of reasons to cancel, or in case of medical evacuation. But insurance does not have to be for your own health. If your parents are in frail health and you could be called home unexpectedly, insurance really helps ease their minds. The same applies for clients with young children being left at home.
In the case where a group of friends charter together, each couple may have a different concern. So you can buy for your portion of the trip and know you are not leaving your friends short on the charter fee or causing hard feelings over the payment if one couple needs to cancel for a covered reason.
Of course we do have clients who have never had an issue and see the insurance as a needless expense. Although we point out the risks so they understand, the insurance is an individual's choice.
Travel insurance has improved dramatically in the last few years. There are now policies specifically tailored to yacht charter clients, and they offer some very impressive benefits that include:
- Protection against illnesses or death in the immediate family. The full charter fee is covered.
- Medical evacuation up to $500,000 per person. This is a huge benefit when you are cruising in exotic destinations and have a medical emergency. A young, healthy client had an attack of appendicitis in the South Pacific and needed air evacuation. Another with no history of medical problems recently had a stroke and needed immediate evacuation. Travel insurance covered these expenses.
- Primary medical coverage of $25,000 per person is also provided. Even if you have insurance, when you are in another country it is a great benefit to have insurance that authorizes immediate treatment and pays directly for the service needed.
- Cancellations due to hurricanes, volcano eruptions and other natural disasters..
- Terrorism at the charter destination as defined by the U.S. State Department.
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10 Reasons to Purchase Travel Insurance
There are hundreds of circumstances that could cause
you to cancel your trip, return home early or force
you to seek emergency medical treatment while traveling.
To demonstrate the importance of purchasing travel insurance,
and emergency travel services, here are 10 common examples
of what could go wrong.
- It's 10 p.m. and you and your immediate family
arrive at the airport for a connecting flight, only
to find that your flight has been cancelled. Who
can assist you with finding new flights to get everyone
home?
- Your bag was lost with your insulin inside.
You need help to locate your bag as soon as possible
and have your emergency prescription filled. Who
do you call?
- Your first visit to Europe, and your passport
and wallet are stolen. Where do you turn for emergency
cash, and how will you get your passport replaced?
- You're involved in an accident and adequate
medical treatment is not available. Who will help
arrange and pay for a medical evacuation?
- If your sister-in-law becomes seriously ill
and you must cancel your trip, what happens to your
non-refundable deposits or pre-payments?
- You arrive in Jamaica and your luggage doesn't.
If it's lost, who will help you find it? If it's
delayed, who will pay for your necessities? If it's
stolen, who will pay to replace it?
- Your cruise line, airline or tour operator goes
bankrupt. Who will pay for your non-refundable expenses?
Who will help get you to your destination?
- You're walking down a street in Rio and twist
your ankle. Who can help you find an English-speaking
physician?
- Three weeks before your scheduled arrival, a
terrorist incident occurs in the city to which you
are planning to visit. Who will pay if you want
to cancel your trip?
- You are at a beach resort in North Carolina,
and you are forced to evacuate due to an approaching
hurricane. Who will help you evacuate and who will
reimburse your lost vacation investment?
