Think of the most
expensive emergency expense that you've had in the last few years (say, buying new tires for your car) and aim to save just that amount.
Not exact matches
A 2015 report from the Federal Reserve found that nearly half of Americans wouldn't be able to afford an unexpected $ 400
expense, which means that they're ill - equipped for any surprise, much less an
expensive emergency.
Trips to the
emergency room can be
expensive, but with the right insurance plan,
expenses can be minimized.
You may also want to purchase more coverage for vacation liability,
emergency expenses, increase the coverage for personal possessions, buy replacement cost (especially with a new or more
expensive tent trailer), or for a full timer's package.
This way, if an
expensive emergency happens, a specifically created savings account, with a name like «car repair» will already be there to cover the
expense.
Aside from medical care, travel insurance can protect you in the case of lost or stolen luggage and personal effects, trip cancellation, personal liability, funeral
expenses (without wanting to sound morbid, dying overseas can be very, very
expensive),
emergency dental treatment and evacuation back to your country of residence.
The medical
expense limit includes
emergency evacuations, which can be
expensive, so the coverage may not be enough in a travel medical
emergency.
You may also want to purchase more coverage for vacation liability,
emergency expenses, increase the coverage for personal possessions, buy replacement cost (especially with a new or more
expensive tent trailer), or for a full timer's package.
While health care costs in the U.S. are typically quite
expensive when compared to many European and Asian nations, there are other plan benefits that have the potential for significant
expense when travelling abroad, such as the Air Ambulance and
Emergency Air Transportation benefits.
A serious medical issue or a major accident resulting in
emergency care and / or
expensive treatment calls for huge out - of - pocket
expenses, which could lead to poor credit and sometimes even bankruptcy - in the absence of health insurance coverage.