It’s vacation time
You’ve scrimped and saved by skipping drinks with friends, budgeted like a hawk and maybe even taken on side jobs to sock away some extra cash. You’ve mapped out vacation time and family commitments to find just enough PTO. And — arguably most importantly — you’ve got the perfect destination picked out and have been daydreaming about this trip for weeks. All systems go. Time to pull the trigger on booking what is sure to be your trip of the year and maybe even of a lifetime.
Why consider travel insurance
Let’s face it, plans sometimes go awry, accidents happen and life has a way of messing with the best-laid plans. That’s not to say forking over for travel insurance is always smart, but it’s worth considering and especially taking a look at for big and expensive trips. In this blog, we will be covering the benefits of purchasing travel insurance and the best recommendations for purchasing your own travel insurance.
Tell me more
If you’ve spent significant time planning this trip, it doesn’t hurt to take a closer look at how travel insurance could be a worthwhile investment for this adventure. Below are why having travel insurance may be worth it to you:
- Trip cancellation, interruption, and delay policies – There’s typically lots of fine print to comb over with these, and watch out for exclusions. Typically these policies generally provide safety nets and financial reimbursement options if something like this happens.
- Baggage and personal belongings – Having your stuff lost, damaged, or delayed is always a headache, but getting paid if that happens can help. This is important if you have a long flight with multiple connections or visiting a high-risk area of thieves.
- Medical coverage – This coverage pays for some medical expenses if you wind up in the hospital, in an accident, or in other unjust situations. If you are considering a more adventurous trip this is a must.
Where to get it
So if you decide you are going to get travel insurance, below is what we recommend for purchasing the right insurance for you.
- Check with planning agent – There are lots of agents and companies online that offer a range of policies and coverage types.
- Shop and Compare – Use a travel insurance comparison site (aka airfare online shopping) to compare quotes and coverage types from a number of options. Some our favorite travel insurance options are Travelex, InsureMyTrip, and WorldNomads.
- Credit Cards with Insurance – Check with your credit card customer service department as some cards offer cancellation policies if you charge the trip or components of it on that card. Some cards with the best travel insurance benefits are the Chase Sapphire Reserve, Capital One Venture Rewards Credit Card, The Platinum Card® from American Express, and Ink Business Preferred® Credit Card.
- Also, check your auto insurance policies some cover aspects of rental cars, and occasional life insurance policies may have this benefit as well.
In conclusion, do the math and only insure what would be disastrous to lose.
- Shop around and know your timeline.
- Some trips (especially resorts and inclusive packages) offer their own policies that you can opt to purchase and often right up until before the trip starts to give time to evaluate options and decide if travel insurance is worth this trip.
- International trips, medical circumstances, and expensive vacations or irreplaceable opportunities are all good instances when it’s worth looking into adding some travel insurance.
And once the planning is done, relax, rest easy with your extra protection (if you bought it), and savor the experience like the savvy traveler you are.
For more travel planning tips, destination inspiration, and all things travel click here .