Trouble For Fifty Thousand Travelers - Goldtrail Bankrupt!

By W K Vandiver

Well it happened, one of England's largest Tour Companies, Goldtrail, went bankrupt over the weekend of July 16, 2010 leaving approximately 50,000 travelers affected.

This event along with other events like the recent Volcano eruption, the Earthquakes in Haiti and Chile recently should be a warning to anyone traveling that they really do need Trip Insurance or Travel Insurance. Without it your investment in your trip is most likely a total loss.

Now that I have your attention let's take a look at how a good Trip Insurance or Travel Insurance plan would have protected you.

First your Trip Insurance would have included a Trip Cancellation/Interruption Benefit which would have covered the cost of your pre-paid expenses like your airline tickets and any pre-paid hotel expenses. That alone is well worth the price of your Trip Insurance plan.

What else is covered? Travel Delay would be covered, usually up to $500, a great Benefit to have when the unforeseen does happen.

What if your Baggage or Personal Possessions are damaged or lost during your trip, well your Trip Insurance policy will cover it up to $1,000, depending on the plan you purchase. If your Baggage is Delayed you will receive $100.

You will even have $10,000 coverage for Emergency Medical/Dental expenses.

Also if there is a need for Emergency Medical Evacuation/Repatriation your Benefit is $20,000 per person. And you will have $3,000 coverage for Emergency Reunion or Return of Mortal Remains should the need arise. If you have a Common Carrier Accidental Death or Dismemberment then you are covered up to $100,000 per person.

Imagine that if you invest $10,000 or $15,000 in your Dream Vacation and decide not to purchase Trip Insurance. Then something like the Failure of one of your Travel Suppliers or a Labor Strike, terrorist incident, natural disaster or bad weather, a hijacking and a number of other things which would be covered in a good Trip Insurance plan and you don't have it?

What if you decided that it wasn't worth the 4% or so to purchase the Trip Insurance, which would have protected your investment.

How would you feel?

How would your Family feel?

Think about it.

Oh yes, you can read about the unexpected failure of the British Tour Operator Goldtrail here.

Thank you for your time and hope you read more of my articles in the future.

W K Vandiver is the owner of a number of Travel Insurance and Global Medical Insurance websites.
For further information about Travel Insurance please visit our website.

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