Thursday, June 19, 2003
More Bang for Your Buck: Terror Insurance
Between terror alerts and the war on terror, taking a vacation can be downright scary. But if you thought buying Travel Insurance was enough, think again. In tonight's More Bang For Your Buck, we found there's a new way to protect your plans.
But what a difference almost two years can make.
Traveler, Jennifer Perillo says, "We are going to be going to Italy for our Anniversary."
Not letting fear stand in the way, Jennifer Perillo and her husband are planning a dream vacation.
She says, "We went to Italy on our honeymoon so that's where were going to again."
But they're not going without investing in a relatively new coverage called Terror Insurance.
Jennifer says, "This is a good way to cover ourselves in the event of an emergency."
An emergency not completely covered by normal Travel Insurance.
John Gerhisfrom Traveled Insured International says, "We provide coverage for them if their is a terrorist incident or if there is a State Department warning."
The Terror Insurance works differently... because if an attack occurs or if an area is deemed unsafe by the government, you get 100 percent of your money back.
With regular Travel Insurance, most people are only covered if the act of terrorism occures within a limited number of days.
Plus many policies say you must take an alternate trip or your coverage doesn't count.
But with Terror Insurance, you're covered...
"As long as there wasn't a State Department Warning already in place."
The only requirement is you must be a U.S. Citizen and you must purchase the protection within 7 days of your initial trip deposit.
"The cost of the travel protection is based on age and that can range anywhere from 5 to 8% of the total cost of the trip."
So if your spending a total of 5 thousand dollars on your vacation- your insurance would cost anywhere between 250 and 400 dollars
Jennifer says, "It's worth it for peace of mind."
And when you consider what's at stake, having peace of mind is worth every penny.
Jennifer adds, "Just kind of preparing ourselves in case something happens. At least we have it."
To obtain the insurance, it's best to work through your travel agent or contact the insurance companies directly.
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