OKLAHOMA INSURANCE COMMISSIONER / From the desk of Glen Mulready
Many Oklahomans are still planning to hit the road for a vacation before summer ends. Nothing can ruin your fun like having to cancel a trip, getting hurt while away from home or returning to a costly incident at your house. Fortunately, different types of insurance can help in the situations I just described. Whether planning an expedition overseas or just a quick weekend trip to the lake, let’s talk about insurance before you take off. Travel insurance encompasses several categories of policies like trip cancellation, travel medical, emergency medical evacuation, accidental death and dismemberment, baggage loss and cancel for any reason (CFAR) policies. These coverages can help reimburse the cost of a trip you cancel, pay for medical emergencies while traveling and cover the cost of lost baggage and personal items. A good way to determine your travel insurance needs is to consider the cost of your trip, the duration of your journey, how far away you will be traveling, if you’re going abroad and which kinds of activities you will be doing. For example, you probably won’t need travel insurance for a trip to grandma’s house two hours away. You will, however, want to consider it if you’re going on a hiking trip in the Himalayas.
If you’re traveling domestically, your health insurance policy might cover emergency care in other states while you’re away. Some plans may permit you to see out-of-state healthcare providers for any reason if they are in your carrier’s network. Check with your insurance company and your specific coverages to see what is allowed.
While you’re away, you’ll want to ensure your homeowners or renters policy is in force in case of property damage, loss or theft. Read your declarations page attached to your policy to see the type of coverage, like actual cash value or replacement cost, and your endorsements like earthquake or additional jewelry coverage. On some policies, protections like personal liability will follow the homeowner, which is helpful if you stay with a friend or family member.
Similarly, you’ll want to make sure you have adequate coverage on your vehicle. If you’re leaving it at home in your garage, parking at the airport or driving across the country, be prepared in case of damage or theft. Additionally, if you plan on renting a car, your auto insurance policy may cover you. You can find out by contacting your agent or carrier directly. Some credit card programs include rental car coverage as a benefit and can help pay for a claim on the rental after your insurance or purchased rental car insurance kicks in.
Summer is the time to have fun and travel, but the last thing you want to deal with is not having enough insurance coverage to meet your needs. If you have any questions about insurance, contact the Oklahoma Insurance Department (OID) at 800-522-0071 or visit oid.ok.gov. Happy and safe travels!
