Travel insurance can minimize the considerable financial risks of traveling: accidents, illness, missed flights, canceled tours, lost baggage, theft, terrorism, travel-company bankruptcies, emergency evacuation, and getting your body home if you die. Each traveler’s potential loss varies, depending on how much of your trip is prepaid, the refund-ability of the air ticket you purchased, your state of health, the value of your luggage, where you’re traveling, the financial health of your tour company and airline, and what coverage you already have (through your medical insurance, homeowners or renters insurance, and/or credit card).
For some travelers, insurance is a good deal; for others, it’s not. What are the chances you’ll need it? How willing are you to take risks? How much is peace of mind worth to you? Take these considerations into account, understand your options, and make an informed decision for your trip. There’s really no better way to protect your vacation investment than by purchasing travel insurance. We highly advise all travelers to consider purchasing travel insurance.
Top Ten Reasons Why You Should Consider Travel Insurance
Life is unpredictable. Some trips need to be canceled. With travel insurance, you don’t necessarily have to pay for a trip you are unable to take. Instead, enjoy more confidence knowing that you stay a step ahead of unpredictable situations before and during your trip.
Don’t let sickness stop you. From coughs in the crowds to exotic eats that don’t agree with your stomach, sick happens. It’s less scary to be sick with travel insurance by your side to help you through these trouble times
Your health insurance has its limits. When you travel outside the U.S., you may be leaving your health insurance at home. Many U.S. plans (including Medicare and Medicaid) don’t cover international travel. Why risk it when a medical evacuation can cost $50,000+?
Forgot your medication? Lost or forgotten medication can set off an alarm when you’re far from home. Let travel insurance help you locate a pharmacy to purchase a new Rx. It’s always nerve-wracking when something goes wrong. But when you’re in a foreign country, you don’t want to face any kind of crisis alone.
Lost luggage can leave you in a lurch. Travel insurance provides benefits that can help you replace needed items if your bags are delayed, damaged, or stolen while you’re away. With reimbursement for your trip essentials, you can still suit up for wherever your journey takes you next.
The plan crumbles. If a travel supplier ceases operations, you may not get a refund for the money you fronted for a cruise, flight, or tour. Travel insurance is in place so you’re less likely to pay for an experience you’ll never have.
You don’t want the credit (voucher). Airlines aren’t required to refund a ticket in the event of an emergency. In fact, your carrier can choose to offer a credit voucher toward future travel instead of cash in pocket. With travel insurance, you have more control over your Plan B.
Speaking of change of plans... Flight delays can add up. Beyond being annoying, prolonged delays can cause you to accrue expenses while you wait, or worse, miss a connection. With travel insurance, a covered travel delay can mean cash for rebooking fees, meals, and accommodations.
Your credit card may not cover you. Some travelers opt-out of travel insurance, thinking credit card coverage would suffice in a crunch. Truth is, even if you have this free coverage benefit, it won’t be as extensive as a separate travel insurance plan.