For many people, summer is a time for all the activities they've been waiting all year for — skydiving, whitewater rafting and so on.
Summer may be winding down, but it's never too late to have some fun. The important thing to remember, however, is to consider the risks surrounding your summer plans.
Whether you're a thrill-seeker looking to try something new or a veteran involved in some sort of extreme sport, you'll want to consider reaching out to an insurance agent or broker and getting extra coverage to protect you and your assets.
Any activity where you are doing something out of the ordinary or fairly risky during vacation warrants considering extra coverage, says Laura Adams, senior insurance analyst at insuranceQuotes.
“It depends what you're doing and where you're doing,” said Adams. Mountaineering and rock climbing have gained popularity recently, but have a high potential for a serious accident; what's worse is that they are often in very remote areas.
Related: Bon voyage: 4 keys to staying safe during vacation season
|What coverage should you consider?
The first thing to consider is how far away you are. Health insurance typically does not cover you when you're out of the country, so for those traveling overseas, getting additional policies can go a long way and help reduce out of pocket expenses.
For those staying within the U.S., “you are typically going to covered any injury that might occur” but insurance isn't likely going to cover 100% of the costs — transportation after an accident, for example, won't typically be covered. For those considering medical coverage, they may be a part of package and you can typically elect different types of coverage — bronze, silver and gold, for example.
Related: Vacationing with confidence
Whether you're domestic or overseas, consider looking into travel policies. Trip interruption, cancellation and baggage loss frequently occur. Being prepared is what will make the difference. When you've got a homeowners'/renters' policy and something is stolen, Adams points out that this is covered by your homeowners'/renters' policy and you may not need that under a travel policy. Known as off-premises coverage, Adams says it might not cover the entire costs but that “10 to 20 percent is very typical.”
If you're driving overseas, that's another type of coverage to consider as your auto coverage will not cover that in most cases. “Think about what kind of auto coverage you might need if there's any chance you might be driving a rental or friend's car when you're outside the country,” said Adams.
Whether it's a health, travel or auto policy you're considering adding on, your summer will be that much safer from risk as you enjoy the outdoors.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
