With airlines certain to impose multiple fare increases - spiked by higher fuel costs and the ongoing Mideast crisis - Travel Insured is offering travel agents and consumers a timely reminder to consider airline ticket insurance.
Travel Insured says that travelers tend to “skip the insurance” when it’s just an airline ticket. But they note, there are solid reasons for an airline ticket plan. Especially in a period of air fare volatility as expected this Spring and Summer.
Travel Insured notes that airlines are scrambling for profitability with multiple airfare increases amid soaring jet fuel prices inflated by Mideast turmoil. Travelers who normally skip insurance when airline tickets are their primary purchase may want to reconsider. An Airline Ticket Protector plan from Travel Insured protects tickets and baggage against cancellation, delay or loss, and offers optional medical coverage.
The consumers pain at the automobile gasoline pump is being shared on the search sites and global distribution systems (GDS) for airfares as oil uncertainty amid Mideast turmoil takes its toll on fuel costs, Travel Insured says.
“Informed sources from the airfare monitor FareCompare.com to the New York Times have documented four airfare increases in the first two months of 2011, more than the three in all of 2010, and analysts are warning travelers to steel themselves for more fare increases to come. Among other factors, the Mideast political turmoil has pushed West Texas crude prices to around $100 per barrel with European Brent crude prices surging even higher,” Travel Insured says.
Tavel expert Ed Perkins of SmarterTravel says some airlines are adding prepaid fuel surcharges to tickets, including those whose base fare is paid for with frequent flier miles. Travel Insured International, a leading privately-owned travel insurance provider, urges fliers who may have overlooked airline ticket insurance during the deflated airfare prices in the recession of 2009 and 2010 to reconsider going forward.
Travel Insured's Airline Ticket Protector appeals several groups. This includes leisure travelers flying to visit friends and relatives, business travelers for whom land components may be hosted but airline tickets are an out-of-pocket expense, or independent vacationers for whom airline tickets are prepaid but land arrangements are flexible and paid during travel.
The plan is also valuable to frequent fliers in paying any fees charged by the airline to re-bank miles into their frequent flier mileage account after a covered trip cancellation.
Travel Insured’s plan provides coverage on Trip Cancellation or Trip Interruption for prepaid, non-refundable ticket costs valued up to $3,500. This includes the fees an airline may charge to reissue a ticket after a cancellation. Travelers may qualify for a waiver of any pre-existing medical condition that could potentially interrupt their trip if the plan is purchased within 14 days of the initial trip deposit.
Trip Delay coverage up to $500 with no daily limit, and Baggage Delay coverage of up to $200 are both included. Also included is a $500 Missed Connection benefit, and up to $1,000 in Lost Baggage & Personal Effects coverage. Every Travel Insured Airline Ticket Protector comes with Worldwide Emergency Assistance available 24/7 with a free call from anywhere the insured traveler is in need of help.
Travelers in need of more comprehensive coverage can take advantage of new value-added options in the new Airline Trip Protector plan, Travel Insured says. This includes:
• Cancel for Any Reason Option: Travelers within 14 days of their initial trip deposit can purchase this option, available for a 50 percent premium supplement and paying potential benefits of up to 75 percent of total trip cost in a cash refund.
• Flight Accident Option: Available for up to $1 million coverage and priced from $8 to $50 per person depending on the benefit level selected.
• Combined Emergency Medical Option: $50,000 in Emergency Medical Expense with $250,000 in Emergency MedEvac coverage. Priced at $25 per person.
• Renters Collision Insurance Option: $7 per day price is charged only to the primary traveler named on the Airline Ticket Protector plan for up to $50,000 in coverage
Travelers select and pay for the options on the Airline Ticket Protector application, with the selected options, except for car rental collision coverage, applied to all travelers being insured on the same application.