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.
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. Caveat- do your homework and research travel insurance from a number of sources but here are some examples of ways it can come in handy.
- Trip cancellation, interruption and delay policies – There’s typically lots of fine print to comb over with these and watch out for exclusions, but these policies generally provide safety nets and financial reimbursement options and can often be combined into package policies.
- Baggage and personal belongings – Having your stuff lost, damaged or delayed is always a headache, but getting paid if that happens can solve a lot of problems.
- Medical coverage – This coverage pays for some medical expenses if you wind up in the hospital, in an accident or other unjust situations
Where to get it
Ok, you’re sold this trip is worth a little extra security in the form of some travel insurance, but now what. Read on for next steps on getting quotes and a policy.
- Surf the interwebs – There are lots of agents and companies online who 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
- Find hidden gold – 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. Same goes for some auto insurance policies that cover aspects of rental cars and occasional life insurance policy benefits that extend to travels.
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.