Vice President, Financial Services and Benefits
Reading about one American's experience in Iceland after the shutdown of Wow Air, I couldn't help but zero in on two key takeaways:
- Given the cost of food and lodging, having to extend a trip even a day or two extra day could create a financial strain — in addition to a host of logistical headaches.
- A lot of tourists in Iceland this week were wishing they'd purchased travel insurance.
Tragically, Wow isn't the only airline that's recently been in the news for the wrong reasons. The March 10 crash of an Ethiopian Airlines 737 MAX jet manufactured by Boeing, coupled with last fall's crash in Indonesia of another 737 MAX last October, led to the grounding of all Boeing 737 MAXes, which in turn has resulted of thousands of cancelled flights.
American Airlines and Southwest alone were reportedly cancelling a combined 220 flights per day as of March 25, with cancellations expected to continue well into April and possibly later.
Flight cancellations happen for all sorts of reasons, mundane far more often than tragic, which is why purchasing travel insurance usually is a wise choice — especially if you're traveling by air. (UPDATE, April 1: Airlines suffer worldwide delays after global booking system fails.)
How travel insurance helps
Say you've made hotel reservations and your flight cancellation means you won't be checking in to that room you've paid for with a non-refundable fare. Travel insurance provides a benefit for travel delay — typically a flat amount that can cover your hotel fare or other costs you incur as a result of the delay. If you don't have travel insurance, you're out whatever you paid for a room you won't get to use.
Of course flight cancellation isn't the only disruption that could leave you footing the bill for a trip you never took or began later than planned. Sylvia Group offers policies that cover a wide range of disruptions, including:
- sickness, injury or death of the insured, a family member, a travel companion, a business partner or a child caregiver
- the insured’s primary residence or destination becoming uninhabitable
- the theft of a passport or visa
- the insured being required to work, or being involved in a merger, job loss or job relocation
- a documented traffic accident
- an unannounced strike
- inclement weather
- the mechanical breakdown of a common carrier
- a natural disaster or mandatory evacuation
- active military service
- a terrorist incident
- revoked military leave
- bankruptcy or default by a travel provider
- an NOAA hurricane warning at the insured's destination
- jury duty
In addition, travel medical insurance can offer protection against losses due to medical emergencies, medical evacuation, damage to personal property, and death that occurs away from home during vacation that may not be covered by your health insurance.
To protect your upcoming trip with travel insurance, contact me. I can't prevent flight delays, but I can help make them less costly.
A Sylvia Group Vice President and Partner, as well as the manager of the agency's Financial Services and Benefits division, Rose Lopes has more than 15 years of industry experience working with businesses and individuals to design programs that fit their strategic plans and goals. Her designs for health, dental, disability, life, long-term care and travel insurance coverage help clients protect their investments and provide security for the people they care about most.
A repeat winner of the SouthCoast Media Best of the Best award as the region's top insurance agency, Sylvia Group helps businesses and individuals protect their future by designing performance- based insurance, benefits and financial planning programs. We’re a fourth-generation agency known for our commitment to our clients and the community, as well for our industry expertise. Founded in 1950 and serving businesses and individuals throughout New England and beyond, Sylvia Group is certified by the Massachusetts Supplier Diversity Office as a Woman Owned Business Enterprise and has the distinction of being the first six-time recipient of the Five Star designation awarded by the Massachusetts Association of Insurance Agents (MAIA) for all-around agency excellence.