If you’re anything like us, this is how you prepare for a big trip: You pack too much, notice your suitcase won’t close, and then start unpacking. the snorkel gear, the sarong, that second jacket… you really don’t need them. But there is one thing you definitely need to pack: travel insurance.
many people weigh the additional expense and ask, “is travel insurance worth it?” most of the time, the answer is an uppercase yes. for that.
Reading: Why do you need travel insurance
Reason #1: Travel Insurance is a Must – Most of us can’t afford to lose our vacation investment.
Let’s say you pay $7,000 for a once-in-a-lifetime luxury Mediterranean cruise for your 25th wedding anniversary. the day before sailing, your mother suffers a serious fall and ends up in the hospital. when she calls the cruise line and explains what happened, they are understanding but won’t refund her money. Company policy clearly states that there are no refunds if you cancel within 14 days of departure.
Situations like these are why travel insurance is a must. When you have travel insurance with trip cancellation benefits, you can get reimbursed for prepaid non-refundable travel costs when you must cancel for a covered reason. covered reasons may include situations such as the covered serious illness or injury of the insured person, a traveling companion or a family member; the death of the insured traveler, fellow traveler or family member; a natural disaster or other event that makes your destination uninhabitable; etc
Reason #2: Travel insurance is required: Medical emergencies abroad can be very expensive.
Consider this scenario: On a driving tour of Argentina, a truck collides with your rental car, leaving you with a broken leg and other serious injuries. When you arrive at the hospital, you muster up your strength to get your health card. the staff just shake their heads. You’ll have to pay for treatment up front, and your medical bills are quickly running into the tens of thousands. if you need a medical evacuation, that cost can reach $200,000 or more, depending on the country you’re in and how close you are to the nearest hospital.
like the us The State Department notes that “many foreign medical facilities and providers require cash payment in advance and do not accept US credit cards. uu. Medicare insurance plans do not provide coverage outside of the United States.”1
When you have travel insurance with emergency medical benefits, you can pay for losses due to covered medical and dental emergencies that occur during your trip. emergency medical transportation benefits can pay for medically necessary transportation to the nearest appropriate medical facility, as well as the cost of getting you home after a covered injury or illness. staff at the allianz global support hotline can even arrange prepayment for covered emergency medical care. The result: When you ask “is travel insurance worth it?”, weigh the small cost of buying insurance against the massive costs of a medical emergency abroad.
Reason #3: Travel insurance is a must – you don’t want minor mishaps to ruin your trip.
a vacation is really an investment in your happiness. And when that vacation begins with a canceled flight, missed connection, misplaced suitcase, or other travel mishap, that happy-travel feeling fades.
Travel insurance can help improve these situations. travel delay benefits can reimburse you for additional lodging/travel expenses and prepaid expenses lost due to a covered departure delay of six hours or more. baggage delay benefits can reimburse you for reasonable additional purchases of essential items during your trip if your baggage is delayed or misplaced by a common carrier for 24 hours or more. several other benefits address other common travel mishaps, so check your plan to see what’s included.
reason #4: travel insurance is required: usa uu. the state department says so!
What is the first thing you should do when you experience an emergency abroad? most american travelers call us local. uu. embassy for help, but those travelers are often disappointed to find that the powers of embassy staff are limited. they can help you replace a stolen passport; contact family or friends in the us uu.; find medical care or legal assistance; contact the local police; and connect it with various resources. but an embassy cannot pay for your medical care, provide emergency transportation (except during rare and major catastrophes), or take care of any financial loss you suffer while traveling.2
That is why the State Department recommends that American travelers carry travel insurance, specifically, travel insurance that includes emergency medical benefits, emergency medical transportation benefits, and coverage for other unexpected expenses, such as trip cancellation and loss or theft of luggage.
Reason #5: Travel Insurance is a Must: It’s easy to find affordable travel insurance.
Cost is probably the number one reason people don’t buy travel insurance. we understand! If you’re already paying thousands of dollars for a long-awaited cruise or resort vacation, it’s hard to spend even a little more on insurance.
Here’s something a lot of people don’t know: insurance can be very affordable. When you get a travel insurance quote, we’ll present you with multiple coverage options, so you can choose the best one for your trip and your budget. Our most affordable plan, OneTrip Cancellation Plus (formerly the Essential Plan), offers three key protections: trip cancellation, trip interruption and trip delay benefits. If you know you’ll be making more than two trips this year, your most cost-effective travel insurance option may be an alltrips plan, which protects all your trips within a 365-day period.
The best way to find a low cost travel insurance plan is to get a quote for your next trip and then compare plans. Remember: If you’re not completely satisfied, you have 10 days (or more, depending on your state of residence) to request a refund, as long as you haven’t started your trip or started a claim. premiums are non-refundable after this period.
- Why should I buy travel insurance?
- travel insurance 101: how travel insurance works
- travel insurance comparison: how to choose the perfect plan