• Give a Gift
  • Customer Service
  • Promotions
  • Videos
  • Blogs
  • Win
  • Games

May 21, 2009

Layoff Insurance Is This Summer's Vacation Essential

Memo from Cubeland

Share

LEFT: Dress, $9995, Michael Kors; sandals, $760, Gucci. CENTER: Dress, $778, Emporio Armani; sandals, $695, Gucci. RIGHT: Dress, $188, French Connection; shoes, $640, Christian Louboutin; bag, $2990, Gucci.

Photo Credit: Philip Gay

Special Offer

Antsy employees, worried they'll have to bag their pricey getaways in the event of a downsizing, are shelling out for layoff insurance (a feature of many travel-insurance policies), which reimburses nonrefundable expenses, like airfare and hotel deposits. "People are feeling vulnerable," says Chris Harvey, chief executive of travel-insurance site SquareMouth.com, where sales of policies have doubled over the last year. Even blue-chip outfits like Norwegian Cruise Lines now offer their own layoff-insurance programs.

Before buying a policy (which can run as high as 8 percent of the cost of your trip), check the fine print. Some require that you've been with your firm at least a few years; others mandate you be a full-timer. Many provide coverage if, say, your tour operator winds up filing for bankruptcy—and there's not a Piña Colada on earth that offers that kind of peace of mind.

-Xiomara Martinez-White


Share
This Is A Developing Story
Connect with Marie Claire:
Advertisement
horoscopes
daily giveaway
One (1) winner will receive a year’s supply of makeup products from L’Oréal Paris (ARV: $236) and a year’s supply of hair products from L’Oréal Paris (ARV: $110).

One (1) winner will receive a year’s supply of makeup products from L’Oréal Paris (ARV: $236) and a year’s supply of hair products from L’Oréal Paris (ARV: $110).

enter now
You Know You Want More
More From Career Tips
How to Score a Job at Nasty Gal

When the hiring manager gives you advice, you listen.

10 Things Arianna Huffington Wished She Knew In Her Twenties

The influential The Huffington Post founder Arianna Huffington discusses the importance of talking kindly to ourselves, occasionally disconnecting, and handling the harshest criticism.

post a comment

Special Offer
Link Your Marie Claire Account to Facebook
Welcome!

Marie Claire already has an account with this email address. Link your account to use Facebook to sign in to Marie Claire. To insure we protect your account, please fill in your password below.

Forgot Password?

Thanks for Joining

Your information has been saved and an account has been created for you giving you full access to everything marieclaire.com and Hearst Digital Media Network have to offer. To change your username and/or password or complete your profile, click here.

Continue
Your accounts are now linked

You now have full access to everything Marie Claire and Hearst Digital Media Network have to offer. To change your settings or profile, click here.

Continue