Are you planning to travel early? Should you buy travel insurance? It’s a tough decision if it’s worth spending extra money. Are you over 50? Travel insurance increases significantly with age. If you are spending a lot of money on a trip, travel insurance is a must.
Travel insurance coverage
Travel insurance covers these bases:
Trip cancellation or interruption
Flight delays and cancellations
Travel insurance: what does it mean for you?
Trip cancellation refers to cancellation before travel, while trip cancellation refers to a problem during the trip. What if you or one of your travel companions get hurt or get sick and you have to cancel your plans. This is where travel insurance comes to the rescue.
What if you have a medical emergency? Do you think you are covered by your medical insurance? You could be. But most medical insurance policies don’t cover you outside the United States. Medicare never covers you when you travel abroad. Find out if you’re covered when you travel to your next destination.
What happens if you get sick and need to be transported by plane? Or you need medical attention on your return flight. This can be very expensive.
Did you arrive at your destination only to find that you have no luggage? What if you are ready to board a cruise? And now? Travel insurance will pay for essential items until the baggage is found and delivered to you. What if it never shows up? Make sure you have a list of items packed for your trip. Better yet, keep as much revenue as possible on these items. If your baggage has been stolen, be sure to file a police report. This will help file an insurance claim.
Did you arrive at the airport only to find that your flight was delayed? What if the delay causes you to miss your connecting flight? Travel insurance will refund you for hotel stays and meals while waiting to board the next flight. But what if your flight leaves on time and gets stuck in traffic and you miss your flight? You will probably not be covered.
Travel Insurance – Do I Really Need It?
Check with the home owner’s policy. It may already cover things like lost baggage. Make sure to check the maximum coverage amount as it may be limited in payment. Check your medical insurance and find out what is covered when you travel from home. Check if you are covered when traveling abroad. Finally, check the coverage of your credit card. Some credit cards will provide a limited amount of insurance if the trip has been booked with their credit card. If you have an airline credit card, check with their coverage. They could have better coverage if you travel with them. But credit cards may not cover being transported home by plane. Both health insurance and credit cards usually don’t cover travel emergencies.
Once you’ve decided that you need travel insurance, read the fine print. Check if there are time limits for purchasing insurance before travel. Find out if the entire duration of your trip is covered. Make sure your destination is covered. If the government warns you not to visit a particular country, you may not be covered if you go there.
What if you get sick? Make sure to list all the medications you are currently taking. Failure to do so could invalidate the policy. What if a family member at home gets sick and you want to stop your trip. Most travel insurance policies don’t cover this unless it’s a death in the family. There is an option called “cancel for any reason”. If you have older relatives at home, you may want to consider this option for peace of mind. This would allow you to stop your trip and go home for any reason. Even if you just changed your mind and decided not to go.
Check the fine print and decide if buying travel insurance is right for you. You may be glad you did!