Should You Consider Getting Travel Insurance For Your Next Trip?
Many travelers who typically skip travel insurance are now reconsidering and saying it might actually save you some money this year. But how do you know if travel insurance is worth it and what’s the best plan to get? Here’s what you should consider:
✈ First off, what does travel insurance even mean?
Travel insurance provides coverage for unexpected events that can go wrong before or during a trip, such as inclement weather that prevents you from departing or an injury that requires medical attention, or in some cases the need for you to fly home early.
According to the U.S. Travel Insurance Association, most travel insurance policies will usually bundle the following three types of coverage into one comprehensive policy:
Financial reimbursement for trip cancellation, interruption, and delay in situations arising from conditions such as illness or bad weather; and for baggage loss and/or delay.
Medical insurance and medical evacuation coverage in case you become ill or are injured while traveling.
24-hour assistance line to help find doctors, help arrange accommodations, and contact your family, or other assistance in case of emergency.
✈ Why should you purchase travel insurance?
There are many reasons why you may want to purchase travel insurance. A common reason is simply peace of mind. Other reasons include protection from unexpected situations and concern over losing the money that went into your trip.
Some real-life examples of how travel insurance can help you includes:
You have to cancel your nonrefundable trip because of a family emergency
You miss your flight because of weather or staff-related delays and cancellations
You get into a car accident in a foreign country and need legal assistance
You need medical assistance while abroad
You can’t get home because of a natural disaster at your destination
✈ Is travel insurance right for you?
When determining whether you should buy travel insurance or not, consider these questions:
Can I afford the financial risk of losing my vacation investment if something goes wrong due to illness, weather, or other unforeseen circumstances?
If I have to cut my trip short because of an emergency, can I afford the cost of a return airline trip home?
Does my health insurance offer any coverage for when I am away from home and become ill or injured while traveling?
If my bags are lost or I have to spend an extra night away due to the weather, can I afford to buy replacement necessities and pay for extra lodging?
If you answered ‘no’ to any of these questions, chances are that travel insurance may be a wise investment and may end up saving you a lot of money should something come up.
✈ Where can I find coverage for my trip?
If you are preparing to travel and would like to learn more about travel insurance policies, explore travel insurance options for an upcoming trip and see how having travel protection gives you peace of mind.