We humans are a funny bunch, at least when we’re trying to balance risks vs. costs.
There are parts of us that reflexively don’t want to spend extra money for things like product warranties, certain that “we’ll be careful and nothing bad will happen.”
There’s also more sensible parts of us that know that unforeseen things do tend to happen when we least expect them, so paying a little extra now just in case can be a wise way to avoid bigger problems later. (Just a little though).
That’s the same logic behind trip insurance – you never know if something will come up that will require canceling a trip and you want to get some or all of your investment back in transportation or lodging costs.
Or, if an accident happens during a vacation or a business trip, travel insurance is a recommended way to help with the costs of unexpected medical care.
If your travel plans take you to New York, especially the city itself, travel insurance may be a smart idea.
Even if you consider yourself a good driver in your hometown or home state, New York roads are considered especially challenging. Good NY defensive driving requires not only taking care among some of the most aggressive drivers in the country but navigating tricky roads that aren’t always in the best shape.
Newcomers to the city might be overwhelmed by the unfamiliar surroundings that everyone else seems to know their way around, and be worried about getting lost or getting in an accident.
Even people who live in other parts of New York or surrounding states may want to consider brushing up on their Big Apple driving skills. Completing a NY defensive driving course will not only help you be prepared for what’s in store on the roads but also can give you a 10 percent discount on your auto insurance for the next three years.
Most travel insurances cover basic, standard occurrences like damage to your vehicle from a traffic collision or standard medical problems, like injuries from this accident that would require going to urgent care or an emergency room. But they typically won’t cover injuries from high-risk activities sustained during travel like scuba diving or bungee jumping.
Your personal health insurance may help with some of these standard costs, but you likely would have to pay higher co-pays than you would at home because you would be going to an out-of-area provider. Your personal physician or even your insurance provider may be several states away). Travel insurance may be able to help with the ‘gap’ between your typical costs for this service and the costs incurred while in New York.
Your auto insurance may also be able to assist if there are any auto-related claims, but travel insurance can help with the ‘gap’ for any damage to your rental car or your personal vehicle.
Items lost on during travel can also be covered by travel insurance, such as baggage or personal property like laptops, jewelry or purses. ‘Personal effects’ don’t include damages to rental cars.
New York travel insurance is also available for groups, rather than single travelers. Group policies cover a specific trip and travel policies may cover group cancelations under certain triggering events, such as accidents or health-related reasons, financial changes like job loss or pregnancy. Larger events such as terrorism, lost paperwork and civil unrest are often acceptable.
However, some consumer-friendly policies may be written to allow people to “cancel for any reason,” even a “change of mind” clause. These are the easiest to opt out, provided the trip hasn’t begun.