Travel agents and consumers must make sure that their travel insurance company is insured and reputable before buying, CSA Travel Protection says, offering five crucial questions agents and consumers should answer. CSA provides affordable travel insurance and emergency assistance services and said it joins agencies in urging all travelers to do their research before selecting a travel insurance provider.
CSA Travel Insurance notes that the National Association of Insurance Commissioners (NAIC), the U.S. Centers for Disease Control and Prevention and the U.S. State Department all encourage consumers to consider travel insurance when planning a vacation, according to the U.S. Travel Insurance Association (UStiA).
“Many State insurance commissioners, the government agents responsible for regulating insurance providers, also encourage consumers to consider travel insurance to protect against possible financial losses due to trip cancellation, delay, interruption and other unforeseen circumstances, such as medical emergencies,” CSA says. Consumers should ask the following questions before buying any travel insurance plan, CSA recommends:
“Is the provider backed by a legitimate underwriter? Legitimate travel insurance companies are backed by one or more regulated underwriters that are insured and financially healthy. Check the A.M. Best website to see current ratings for a provider. A.M. Best is a worldwide insurance rating and information agency, and any reputable travel insurance underwriter will be rated by this entity.”
“Is the company in good standing with the Better Business Bureau? Check the Better Business Bureau website to see if the provider is accredited and in good standing. Also look to see if all customer issues have been resolved.”
“Is the underwriter licensed to do business in the consumer’s state? Insurance companies must be licensed by the state insurance commissioner and will be listed on each state’s Department of Insurance website. Consumers can visit the NAIC site for a direct link to their state’s site.”
“Are the company’s policies offered via third-party comparison sites, like InsureMyTrip.com and Squaremouth.com? Comparison sites work closely with reputable travel insurance companies and can help travelers find the best coverage and price for their particular trip.”
“Is the company a member of the UStiA? UStiA member companies subscribe to a strict code of ethics regarding their products and interactions with customers. Check the organization’s website for a list of member organizations.”
Visit www.csatravelprotection.com