Due to the way it’s sold, many travelers think of travel insurance as an unnecessary upsell. When you purchase an airplane ticket, for example, it’s listed alongside car rentals, taxi rides, hotel stays and other purchases most people dismiss out of hand.
However, travel insurance is a low-cost method of ensuring peace of mind for almost any trip. Consider the following.
Travel insurance is inexpensive
It’s easiest to purchase travel insurance as an add-on from the same site you purchase tickets or make reservations. In most cases, the cost of the policy will be less than $100. If you wish, you can shop around for cheaper options by speaking with your insurance broker.
Rescheduling and cancellations
Typical travel insurance covers the most common reasons for cancelling a trip: natural disaster, illness or the carrier going out of business. If you have been saving up for a big trip, it will allow you to reschedule without worrying about finances.
Baggage and personal items
Everyone has heard horror stories about lost, damaged or delayed luggage. With travel insurance, you are reimbursed for your lost luggage and reimbursed for the cost of items you need immediately. You will also be compensated for anything damaged or stolen.
Emergency medical care
This is especially important for foreign travel, where your US health insurance will be ineffective. Travel insurance will cover medical costs up to a certain amount in the case of injury or illness.
Worst-case scenarios
Should death or a devastating injury occur, a travel policy will pay for assistance, including bringing a deceased back home, which can otherwise be prohibitively expensive. While unpleasant to think about, travel insurance coverage can prevent a disastrous financial outcome.
Travel insurance is a necessity, not an extraneous add-on. Before your next trip, consider talking to your insurance broker about the most effective and affordable policies that will keep you safe and allow you full enjoyment of your travels.
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