A Challenging Economy Highlights the Importance of Travel Insurance Says InsureMyTrip.com

WARWICK, R.I., Feb. 11 /PRNewswire/ -- Today's shifting and uncertain U.S. economy has many concerned travelers taking serious financial precautions. One such measure is to reduce general spending. According to a recent consumer spending survey from ChangeWave Research, a decline in spending growth was seen occurring across all income levels. Yet even as the federal government works to stabilize the economy with its impending stimulus package, people are continuing to travel in mass for both leisure and business, and now more than ever, they need to protect their travel investments.

"No one wants to lose money, so it is important to purchase travel insurance to protect trip investments," points out Jim Grace, President and CEO of InsureMyTrip.com. "From the once-in-a-lifetime trip you've worked so hard for, to the career-making business trip; if you've paid for it, you want to be certain that nothing will cause you to lose that money."

"Travel insurance protects many things that are not covered by credit cards, homeowner policies, and healthcare plans," explains Grace. "It's important for consumers to know from the start what, if any, coverage they may already have, and then research and compare the coverages available with travel insurance."

It's also extremely important to know the facts and particulars of travel insurance such as when you need to purchase, what is covered, and how to select the best plan for your travel needs. "At InsureMyTrip.com, we understand that for many people insurance is a complicated thing and getting expert advice is critical," says Grace. Here are some reasons to consider travel insurance in potentially recessionary times:

(1) Trip Cost Protection: You paid good money for a fun-filled family vacation and all was fine until you had to cancel your trip. Travel insurance protects your investment. (2) Financial Default/Bankruptcy Protection: In hard times, travel companies including tour operators, cruise lines and airlines also feel the squeeze. There is only one way to protect against travel suppliers going out of business and that's with travel insurance. (3) Travel Delays/Missed Connections: These events occur often and can wreak havoc on your itinerary, not to mention your wallet. The added expenses of hotel accommodations, meals, and transportation caused by weather-related delays and cancellations can cost money that travelers have no way to anticipate. (4) Trip Interruption: Emergencies big and small have a way of happening when you least expect them. The cost of cutting your trip short to take care of problems can create a financial crisis of its own. (5) Illness or Injury: Getting sick or injured before you leave can cause you to abandon your trip plans; getting sick after you've left, or if you're traveling abroad, can really hurt too. Some national healthcare programs provide limited, or in certain cases, no coverage at all once you travel outside the U.S. (6) Pre-existing Medical Conditions: If you, a traveling companion, family member, or business partner have a pre-existing medical condition (injury, disease or illness), trip insurance is a must. But plan ahead as the majority of travel insurance policies require that you purchase your policy within 7 to 21 days of your initial trip deposit to be eligible for pre-existing medical conditions coverage as well as financial default/bankruptcy protection. (7) Medical Expenses and Emergency Medical Evacuation: Finding yourself hospitalized in a foreign country may raise a host of concerns and costs if you require transport to a more appropriate medical facility or one of your own choosing.

To learn more about the protection plans that best suit your travel investment needs, visit InsureMyTrip.com on-line or call (800) 487-4722 to speak with a licensed travel insurance professional. Whether you simply need one question answered or want step-by-step help in selecting a travel insurance policy, InsureMyTrip's personable Customer Care representatives are waiting for your call.

About InsureMyTrip.com

Featuring insurance comparisons from the top industry providers, InsureMyTrip.com is a unique, one-stop resource designed to meet consumers' comprehensive travel insurance needs all in a secure environment. InsureMyTrip.com also specializes in providing integrated technology solutions for the travel insurance industry, with over 2,000 private-labeled and co-branded travel-related websites around the globe.

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