Whether it’s a quick weekend getaway or a month-long trip around the world, most people think about it when planning a trip. However, people often overlook the importance of travel insurance. Travel insurance may seem optional, but it can save your trip and your money if something unexpected happens. Could it be worthwhile to consider obtaining travel insurance? Let’s break it down.
What exactly does travel insurance cover?
Travel insurance typically covers a number of different situations, such as trip cancellation, medical emergencies, lost or stolen luggage, delays during travel, and sometimes even damage to a rental car. It ensures your financial security if something unexpected happens.
Suppose you get sick and have to cancel your trip, you may be able to get reimbursed for non-refundable expenses, such as flights and hotel reservations. If you get sick or injured during your trip, travel insurance can cover your hospitalization and medical expenses. Your regular insurance may not cover these costs. You may also be eligible for compensation if your luggage is lost or your flight is delayed.
Why Travel Insurance Is a Good Idea
There are certain situations where travel insurance can be very useful. It can save your life if you’re traveling abroad, especially to a place where medical care is expensive or not covered by your health insurance. Insurance is also very useful for trips that require you to use multiple planes, book expensive hotels, or have reservations that can’t be changed. Additionally, insurance can give you extra peace of mind if you’re traveling during storm season or in an area with political unrest.
When It May Not Be Necessary
If you’re only taking a short, inexpensive trip within the U.S. and your credit card already covers some basic travel risks, you probably don’t need additional insurance. If your plans are open and you don’t mind losing money on last-minute changes, you may not need travel insurance.
However, it’s important to weigh the financial risk you’re taking against the cost of insurance. In most cases, travel insurance is inexpensive: about 5-10% of the total cost of your trip. This small upfront fee can save you a lot of money if something goes wrong.
Things you may not know about travel insurance
Travel insurance not only protects you from financial loss. It also provides you with additional services, such as 24/7 emergency assistance, 24/7 document replacement, and directions to unfamiliar places. These services are usually available over the phone. They can make it easier for you to deal with a stressful situation.
Travel insurance can also give you more peace of mind. Knowing that you have a safety net can help you relax and enjoy the ride.
In short
While you don’t need to buy travel insurance every time, it is something you should always consider, especially if you are going on an expensive, international, or complicated trip. Not only does it keep your money safe, it also keeps you healthy and calm. You may not need it, but if you do, you’ll be glad you have it.
It’s simple: if your trip is expensive or takes you far from home, travel insurance is worth it.
