Dive into the intricate world of travel insurance! While this topic may feel heavy and risky, the intention is to mitigate risk, protect your clients, and safeguard your business. Susan Barbanel, a National Business Development Manager at Travel Insured, joins the conversation to provide key insights and strategies to navigate the risks and rewards of offering travel insurance.
When To Introduce The Topic Of Travel Insurance
Introducing travel insurance early in the planning process is a must. It empowers travelers to make informed choices tailored to their needs and offers protection from unexpected issues like trip cancellations, medical emergencies, or travel disruptions.
Can You Require Travel Insurance?
While travel advisors can’t insist that clients buy travel insurance directly from them, it’s a smart move to ask for proof of insurance before kicking off a working relationship. This way, both parties can have peace of mind, knowing that clients are covered in case of unexpected travel hiccups. It’s all about making sure everyone’s on the same page and well-prepared for their adventures!
What Can And Can’t You Do As A Travel Advisor?
While a travel advisor can’t provide specific insurance advice or interpret all the nitty-gritty details of a policy, they can certainly offer quotes and present insurance options with the client’s best interests in mind. If a client needs specific clarifications about a policy, it’s best to have them chat directly with the insurance company to get the most accurate information. As a travel advisor, you can assist in the transaction, but the policy experts are where the specific policy answers should come from. After all, they know their product best.
Documentation Best Practices
It’s crucial to emphasize that documentation is key in the process. A travel advisor should make it a priority to obtain acceptances and declinations of travel insurance policies in writing from clients. This not only ensures transparency but also serves as a record of the client’s choices and helps prevent any misunderstandings down the road. So, keep those communications in black and white for everyone’s peace of mind.
Let’s Talk Money…
Selling travel insurance can be a significant income stream for travel advisors, and here’s why. It’s a versatile upsell that applies to virtually every client, regardless of their travel plans. From family vacations to business trips and exotic adventures, travel insurance is universally relevant. What makes it even more appealing for advisors is the fact that it carries one of the highest commission potentials of any travel-related product. By offering this valuable safeguard, advisors not only enhance their clients’ travel experiences but also secure their financial well-being. It’s a win-win scenario where advisors can boost their earnings while providing an essential service that delivers peace of mind to travelers.