BUSINESS INSURANCE BULLETIN
ForthQuarter 1999
Many business travelers head for the skies each year with some unneeded baggage-excessive travel insurance.
According to the Independent Insurance Agents of America (IIAA), consumers who buy travel packages and rent cars encounter insurance related products to protect them from disaster on a trip. But in many cases the coverage isn?t needed.
?For the typical traveler, buying extra travel-specific insurance can be unnecessary waste of money,? said IIAA Research/Information Director Madelyn Flannagan. ?if you have standard levels of home owners, renters, auto, life and disability insurance , you are already protected against a large number of travel-related incidents.?
Flannagan said the biggest risk encountered while traveling is theft, one that most consumers are already protected against, even while traveling in a foreign country.
Supplemental personal property coverage, flight life insurance and rental car insurance are all coverages many consumers can avoid barring special circumstances.
According to IIAA, travel-related coverage that should be considered is trip-cancellation insurance for those who purchase costly non-refundable travel packages.
To be sure you have the coverage you need, before traveling, visit our agency. Preparation can save you from buying unneeded insurance, lessen the chances lost luggage or a fender-bender can ruin a business trip, and protect you from weather related events or unforeseen circumstances that can bring your trip to an abrupt end.
