Your Wealth Puzzle » Travel Insurance

Do I Need Travel Insurance

yourwealthpuzzle — Tue, 07 Jul 2009 16:55:08 +0000

How do you know if you need travel insurance when you travel? Well theoretically everyone may need travel insurance at one time or another. Any one of us can run into unforseen problems when we travel. You can have emergencies, illnesses, accidents, lost baggage, damaged equipment, the financial default of your airline or cruise liner or other supplier. All of those circumstances would be covered when you have travel insurance.

Travel insurance can cover for trip cancellations, trip interruptions, damaged, lost or stolen baggage. It can cover any special equipment that you bring along such as fishing gear or hunting equipment.

If your trip is cancelled or delayed by you or a supplier, you have already made a prepaid investment and in most cases your deposit is non-refundable. Your travel insurance will reimburse back to you your investment.

There are different travel insurance packages for different budgets. The different packages offered by the travel insurance companies can work with your personal budgets.

Travel Insurance

yourwealthpuzzle — Tue, 07 Jul 2009 16:51:47 +0000

There are comprehensive or individual travel insurance packages available. With individual packages, you pick and choose the coverages that best suit your needs. With the comprehensive travel insurance package all available coverages are included. These can include but are not limited to trip cancellation, trip interruption, baggage problems, special equipment coverage. And the more comprehensive packages may even include the reimbursement of personal items if your baggage is delayed.

The cost for travel insurance varies. The fees are based on the coverages chosen, whether the traveler chooses the individual or comprehensive package and also the age of the traveler(s).

Travel insurance is relatively easy to purchase. You can get it through your travel agent or you can purchase it online. You can usually get your quotes, complete your applications and make your payments online. Many travel insurance companies are also set up if you decide to make your purchase at the last minute.

Everything You Need To Know About Credit Insurance

yourwealthpuzzle — Fri, 03 Jul 2009 21:56:32 +0000

There seems to be insurance available for everything.

You can get insurance for your autos, home, jewelry, silverware, art deco, skidoo, boat and your life. You can get insurance for flooding disability, traveling and your pet bird. You can even get credit insurance. Credit insurance is different from credit scores and credit ratings.

If you’re not exactly sure what credit insurance is, don’t be alarmed, not too many other people know what credit insurance is either. Let’s talk about that.

The Basics About Credit Insurance:

Understanding Credit insurance:

When you take out a car loan or mortgage and you think you will have a hard time making payments on that loan at any time during the life of the loan, you would look into credit insurance.
Credit insurance pays for loans when the person who took the loan out is unable to.
There are different types of credit insurance.
You can get credit insurance to cover your loan payments if you become ill or are injured from an accident.
You can get credit insurance to pay off the loan if you die before it is paid off; so that your heirs are not saddled with those payments.
Another type of credit insurance will make your loan payments if you lose your job and are able to make the payments yourself.
With credit insurance you avoid the risk of losing your property if you cannot make your loan payments.
Your home and your automobile are two of your most valuable assets – if you have a loan on them and do not have credit insurance you run the risk of losing them.
Credit insurance is optional when you apply for a loan.
The lender must ask you if you want it included in your loan.
The lender cannot make you purchase credit insurance without your permission.
The lender cannot slip it into your loan without your approval.
It is against the law to make credit insurance mandatory on a loan.
It is also against the law to include credit insurance in a loan without your knowledge and consent.
When applying for a loan, ask the lender to run a quote on your loan payment amount with and without credit insurance included.
These quotes will give you a choice.
Ask the lender at the time of the loan application whether the credit insurance will cover your full loan or just a portion of the loan.
Some lenders just offer partial loans, so be sure to ask.
Ask the lender if you can cancel the insurance at any time; and if you do cancel, what are their refund policies.

Credit insurance can be of great value to you. It’s the type of insurance you may not think you need, but when you cannot make your loan payments, you’re glad you have it. Work with your lenders to learn as much as you can before you buy it.