Why You Should Consider Travel Insurance On Your Next Luxury Vacation

The year is coming to a close and the demand for 2022 trips is up significantly, with an increase of over 200% compared to 2019, and this does not even include re-bookings.

This demand is fuelled by a lot of anticipation, as you can imagine the staggering number of travel plans that were derailed in the last year because of lockdowns. Now, with more European countries opening their borders to vaccinated travelers, the demand for the most popular destinations like the UK, Italy, France, Spain, and Portugal are very strong. In addition to the household favourites, luxury travelers are also setting their sights towards countries like Egypt and Croatia, who were early to open their doors to American travelers. Then there are the luxury travelers who are looking to check off an item from their bucket-list, which has created a high demand for African Safari.

Whether you are planning to go on safari in Africa, or touring Italy in 2022, travel insurance is crucial for coverage for a trip cancellation, trip delay/ interruption, medical expenses, emergency medical evacuation and lost baggage.

Let’s go over the two major benefits that you need from travel insurance for your 2022 luxury trip.

Trip Cancellation Insurance for Luxury Vacations

Trip cancellations are the last thing anybody would want to happen, after so much built up excitement for a luxury trip, but in reality, these can occur for a variety of reasons. Depending on the coverage of the travel insurance policy, you can be reimbursed 100% for your pre-paid and nonrefundable trip costs.These expenses could include airfare, accommodations, tour guides and transportation, which can really add up with high-end travel.

Recent events have proven to the world that literally anything can happen, and international borders that are open today, can very well be closed tomorrow. The most flexible travel insurance policies include upgrades with “cancel for any reason” (CFAR) coverage, which will permit you to cancel your plans for any reason up to 2 days before your scheduled departure. Generally CFAR allows you to recoup 50-75% of your trip costs. Of course, this comes at a higher price, but if you are looking to protect a hefty investment, this might be in your best interest.

Delays and Interruptions in Luxury Trips

When you are travelling internationally, there is a chance that you have connecting flights between your airport of origin and your final destination. For example, missing a connecting flight for airline mechanical issues with the protection of travel insurance could recoup related expenses you incur like hotels, meals, and transportation while waiting for the next available flight to your destination.

Typically, there is a required time delay for coverage, which is normally about 3-12 hours of delay.

Trip interruption benefits will cover you in the event that you need to end your trip early for an unforeseen reason, like falling ill, a family emergency, or natural disasters at the resort you are booked in.

Plan your luxury trip with Cevalon

Smooth travel is about making the right connections.

Cevalon also acts as a discrete family office concierge partner to specialist wealth management firms who provide traditional wealth management services including tax planning, legal and insurance services, wealth and asset management, private philanthropy, family governance and education.

When you need to get away from it all, whether for relaxation or adventure, with our Holiday Planning & Itineraries service we craft and create a bespoke plan to suit your lifestyle.

Contact us today…

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Photo credit: Image Courtesy of Mike Swigunski

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