Travel insurance is having a moment. While it has always been a good idea to purchase a peace of mind policy, there’s nothing like a global pandemic to drive that point home. In these uncertain times, it’s good for the mind and soul to plan and go on vacation. But if we’ve learned anything from the past 18 months, it’s that even the best-laid plans can be thwarted at a moment’s notice.
Let’s take a look at when you’ll especially want travel insurance in your back pocket. Then, let’s chat – I can help point you in the right direction so these mishaps won’t befall you on your ideal getaway.
What Can Go So Wrong that I Should Buy Travel Insurance?
Glad you asked! Not to be all doomsday here, but there are myriad reasons for purchasing travel insurance, including:
1. Cancellation or shortening of your trip for reasons you can’t control (read: COVID-19)
The alternative is cancelling your trip and not getting your money back, costing you hundreds, if not thousands, of dollars. Particularly if travelling outside the United States, the cost of your vacation will likely be higher than domestically. Travel insurance pays off.
These international trips are also usually planned farther in advance than local trips, and there’s more chance that something can thwart your plans between now and then. Experts suggest that if you’re paying for 70 to 80 percent of your trip costs at the start, consider purchasing comprehensive travel insurance.
2. Medical emergencies.
Whether it’s an allergic reaction, a broken bone, or pneumonia, a medical emergency when far from home is no joke. It may be difficult to find medical help, and that assistance may be pricey. Comprehensive travel insurance will help you avoid out-of-pocket expenses. If you’re traveling in a remote region, research the plan’s medical evacuation coverage.
Cruise lines typically ask for a big deposit. If this is also coupled with an international destination, you’re paying more for your vacation, also upping the risk of issues while cruising.
The answer? Comprehensive travel insurance or a vacation protection package purchased from your chosen cruise line. These policies cover a range of situations, including hurricanes – but you have to plan ahead. No signing up for coverage after the hurricane shows up on the radar.
Other smart reasons to purchase a travel insurance policy:
-Missed transportation (trains, buses, flights) or delayed departure, again for reason out of your control
-Personal injury or death
-Lost, stolen, or damaged items, from luggage to passports to money
-Accidental damage or injury caused by you
And here are a few situations in which you might not have to purchase insurance:
-To keep your options open (in today’s world, many travel operators have a pretty flexible booking and cancellation policies in place already)
-Just for flights (your rights as a passenger should give you the coverage you need in most cases, without having to pay for a pricey policy. Even an insurance policy isn’t going to get you rebooked faster if your flight is cancelled or delayed)
-If your credit card covers it (check with your card company to see if there is built-in trip interruption insurance before purchasing additional coverage)