Layoff Insurance for Your Vacation

Many travel companies are offering layoff insurance to customers who book a vacation during the unstable economic times that are upon us. With so many layoffs occurring all over the country, travel insurance companies and their providers are experiencing increased interest in their policies, several of which offer refunds to people laid off before they were planning to depart on a big vacation.

You can protect yourself against the unpredictability of job loss and be able to book your vacation without the fear. With cruise prices at an all time low and many other popular resorts and destinations slashing their prices, there’s no better time to plan your summer getaway.

The majority of all travel insurance claims occur before a vacation ever begins, so it’s a good idea to look at policies that not only protect against job loss, but also protect travelers against other potential nightmares associated with traveling including delays, loss of luggage, medical emergencies, family illness, and the need for last minute cancellations. Most of these policies usually cost a relatively small percentage (an average of 4% to 8%) of the trip price, depending on certain risk factors. So, if you are planning on a vacation in 2009, yet feel your job is possibly in jeopardy, it may be a wise decision to go ahead and purchase layoff insurance.