Travel Insurance: Why You Should Care About It
This post may contain affiliate links, which means I may receive a small commission at no extra cost to you if you purchase using these links. I only recommend products that I truly believe in. Full disclosure policy here.
Not everything always goes as planned when you travel. No matter how carefully you plan your trip, something unexpected might come up. You might have to cancel your trip for a number of reasons or run into some unexpected expenses during your trip.
It is always best to have an emergency fund for unplanned situations. Travel insurance might benefit you as well.
The Definition of Travel Insurance
Travel insurance is a type of short-term insurance policy. All you have to do is plan your vacation and purchase a policy that would cover a number of scenarios that could come up during your trip. You can choose between different plans or buy a customized policy in the amount of coverage you want.
The Advantages of Travel Insurance:
Get your money back if you have to cancel your trip.
Travel insurance usually covers the entire cost of your trip if there is a death in your family, if you or a family member becomes ill, or if you lose your job. The scenarios covered depend on the amount of coverage you buy.
Medical expenses are covered
It could be very beneficial if you don’t have a health insurance policy or if your current policy wouldn’t cover you in another state.
Repatriation is included
This is another one of the main reasons why this type of coverage might be needed while you’re traveling. Having to buy a plane ticket home at the last minute if you’re ill or injured could be very expensive and makes buying travel insurance well worth it.
Having your luggage ensure
It’s not uncommon for luggage to get lost or stolen, and you could actually lose some valuable items such as your laptop or digital camera.
Travel insurance is affordable
You can rely on your travel insurance policy to cover unexpected expenses. You’ll find that your trip is a lot more enjoyable with the peace of mind of having travel insurance.
What to Consider When Buying Travel Insurance
Buy additional coverage
This is important if you plan on going skiing, mountain climbing, hiking, or want to try an extreme sport for the first time.
The amount of coverage depends
Assess which risks you need coverage for. Where are you going and which activities do you have planned? There is no need to buy travel insurance that includes coverage for medical expenses if your health insurance will cover you while you’re away from home.
If you plan on traveling soon and have already booked your trip, look for a reliable travel insurance provider. The insurance provider you currently use for your other policies might offer this type of coverage. Otherwise, you can easily buy travel insurance online or simply contact different insurance providers to ask for quotes.
Don’t hesitate to contact a travel insurance agent directly to see if they can write a customized policy for you. This is usually a good way to save money since you might not be able to find a policy that matches your needs. You can also remove or add coverage from an existing policy in view of what you need.