Going on a family vacation involves a lot of decisions just to make the trip happen. You have to decide where to go, when you will travel, where you will stay, what you’ll eat, and the activities everyone enjoys along the way. Getting away from work shifts, errands, bills, and insurance matters is very appealing, but there are actually some insurance matters you need to tend to for your trip. When you know why you should get rental insurance for your family vacation, you’ll be a lot more likely to tend to this crucial task.
Why Rental Insurance Helps Your Family Vacation
Investopedia points out that a personal renter’s insurance policy can cover all your personal belongings while you are on vacation. This coverage will apply whether your personal possessions are left at home, stored in your car, or just with you at the time you travel.
The coverage should apply to theft and many other kinds of covered losses. Consult your insurance agent and policy for specific terms and conditions about what “other covered losses” really entails.
Another kind of rental insurance to look into for your family vacation is vacation rental insurance. This is particularly useful if you are going to rent a vacation home for your trip. Depending on the specific policy you get, there are quite a few benefits you can enjoy from such a policy.
Premium plans might have 24/7 assistance services standing by at every hour of the day. You can use such services to get help making your travel plans before you even leave. You can also enjoy emergency travel assistance when you and your family are traveling, and that can range from concierge services to emergency medical assistance if anything unfortunate happens.
You should be able to get coverage that covers you financially in the event of your trip being interrupted or canceled. You can get reimbursed for any travel expenses that were pre-paid and non-refundable in the event of illness, injury, or other covered reason. Potential covered reasons can include getting laid off from your job to your airline defaulting financially.
Even though any vacation home you rent should have its own insurance through its owners, you might still want to look into coverage for your own liability and responsibilities while you and your family are there. Rental insurance for vacations might also protect you if your family can’t make it due to sudden death in the family, local disease outbreaks, or natural disasters.
Rental insurance for your vacation might be necessary for something as relatively minor as losing your baggage. However, it might also provide crucial medical coverage if you are in a country or place where your health insurance back home won’t handle the medical bills you might end up with.
Make Sure You Have Insurance Coverage for a Rental Car
At the bare minimum, you need to make sure you have insurance for rental cars on your trip. A badly needed vacation is a great thing to enjoy in life, but you’ll enjoy it even more if you have peace of mind in the event of an accident. Seeing as this is a time when you are spending longer periods of time on the road in potentially unfamiliar places, this can quickly become a time when you are putting yourself and your loved ones at greater risk of injury.
Without the right planning, even the best trip can get quickly derailed. You need to do as much research as you can during and even before your trip planning so that everything has the best chance of going well when you do finally pack up and leave.
Not every vacation will require a rental car, especially if you go on a cruise or bus tour. However, many trips might. Even on cruises, you might want to rent a car for a day to get around a particular port of call. Passenger vehicles let you travel to a locale on your own terms.
Hopefully, nothing goes wrong with your rental car, but if it does, then you might wind up with a huge bill for a car you don’t even own. No matter how great a driver you are, you’ll be in unfamiliar surroundings, and you never know what other drivers are going to do.
Rental car insurance can cover anything you rent during your trip, whether it’s for a day or the whole journey. You’ll be able to enjoy your rental car instead of being afraid of what might happen.
Finding the Best Rental Insurance
Before you can make sure you have the best possible rental insurance for your vacation, you need to take two steps. The first of them is determining what your rental insurance needs will be. They tend to break down along three lines. One is whether or not you will get any rental cars. The second revolves around rental homes. Also, the third will just cover general trip expenses.
The second step you want to take is to find out what your current insurance already covers. Your personal auto policies back home might have rental car coverage, and your health insurance might have some coverage for medical emergencies in other countries. The rental or homeowners insurance you have could even cover some personal possessions while you are traveling with your family.
Once you know all these things, you’ll know what you need to cover for certain. You’ll have to weigh the risks when deciding rental vacation insurance you are going to get. How likely are the particular risks? Also, are you willing to cover the bills that happen if things do go bad? If you don’t want to do that, then insurance is a must.
As with most other kinds of insurance, shopping around pays off. Just collecting three quotes gives you a good idea of what policies will cost and what they cover. Remember, you can usually save money by setting deductibles higher rather than lower if you have that option.
The biggest thing to do is to shop around as early as you can. One of the biggest risks in vacation rental insurance is not getting prepaid deposits back on things because they’re non-refundable. If you don’t have your rental insurance policy in place before you put those deposits down, then you might not be covered.
You have so many things to take care of when you’re at home, from rent or a mortgage to just deciding things to buy at the grocery store. A vacation should be your break from everything. While it’s impossible to take all the risks out of a vacation, you can manage your potential risks to a great degree by getting rental insurance that’s appropriate to the specifics of your vacation.
I’ve honestly never thought about getting this before, but I can see why it would be very useful. I will keep this in mind for the next time we go on vacation, thanks for sharing this.
To be real, I’ve actually never ever considered this… but now I’m like wow! This could come in really handy.
I haven’t ever gotten rental insurance but you bring up some really valid points. It’s something I’ll be considering in the future.
Rental insurance is so helpful. I’ve gotten it the last few trips!
while we have not gotten rental insurance usually, of late we do see it can be useful for certain trips at least..
thanks for the tips and this post