Monday, August 9, 2010

Protect Your Investment!

Protect Your Investment

Interestingly enough, this conversation did take place in a lobby. I got into a conversation with a woman and she began discussing serious health issues that her husband had endured, and that the vacation they had been planning was not to be had - at least for the time being.

I inquired if they had purchased travel insurance for their trip, as from our conversation, it was a pricey vacation they had been planning (in excess of $20,000.00). She indicated that they had purchased insurance, but had failed to get their airline tickets insured with their package; therefore they would lose that amount of money, but would be able to get their deposit back for the trip. I told her that was good, and while they did lose out on the airline tickets (which they would be getting a credit for; with heavy penalies being assessed) at least they had insured the bulk of their vacation.

It's always curious to me that people are willing to lay down several hundreds; oftentimes, thousands of dollars for a vacation, but feel they don't "need" to purchase the insurance. I liken that to gambling in Vegas. Sure, they are hedging their bets that nothing bad will happen, but as Murphy's Law works - anything that can go wrong, will go wrong. Why would you spend all of that money and not protect your investment? I mean, that's what it is - an investment. Taking a vacation is a lot of money; especially when it's a family vacation, or a "once in a lifetime" trip that may never happen again.

Thousands of stranded travelers found out JUST how important travel insurance was when they were stranded in Europe during the Iceland volcano eruption. Contrary to what people may think, travel insurance is not an exhorbitant cost. Sure, it can run a few hundred dollars if it's an expensive trip, and many other variables that are taken into consideration; however, given the alternatives, I would say that spending a few hundred dollars for a $2,500 or more vacation is money WELL spent. Then again, this is my business, so it makes sense to me. I've said it once, and I'll say it again, insurance is one of those things you don't want to pay for, but are SO thankful to have when you need it.

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