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Travel Insurance

Top Ten Reasons to Buy Travel Insurance

Top Ten Reasons to Buy Travel Insurance

Students studying abroad, international businesspeople, holiday makers, families vacationing in DisneyWorld, cruise-goers. What do these people have in common? They could all use travel insurance. There are as many reasons to buy travel insurance as there are to travel. So what are some of the top reasons to buy travel insurance? Here’s our top ten list. 

1. Travel Plans Change

From time to time, we might need to cancel our travel plans. This was true before the pandemic, but it’s especially true now. Basic trip insurance only covers costs related to cancellations beyond your control. If, for example, there’s inclement weather in your destination, you’ll be able to recover certain trip costs. However, if your trip insurance includes Cancel For Any Reason (CFAR) coverage, you have the freedom to cancel your plans for any reason and still recoup a wide range of prepaid travel expenses like rental deposits and reimbursement for unused event tickets. CFAR is one of the best coverage options for people traveling during the pandemic because it allows you to book your travel plans well in advance and still cancel later on if your destination suffers a sudden Covid surge or you no longer feel comfortable traveling. CFAR allows you to reduce the financial impact of cancelling your trip. 

2. It’s Cost Effective

Travel insurance is likely not as expensive as you might think. Although certain variables can impact the cost of your plan, you’ll find that a suitable travel medical insurance costs around $300 dollars and trip insurance generally costs around $200.

3. Your Domestic Healthcare Won’t Cover You Abroad

If you’re traveling outside of your home country, your domestic healthcare won’t cover you should you incur an injury or contract an illness and need medical care. This means that you’ll be paying out of pocket for any medical help you obtain while abroad. If you’re traveling to a country like the U.S., where healthcare costs are high, you could be faced with crushing medical debt. Travel medical insurance can ensure that you get the care you need and minimize your financial responsibility. 

4. COVID-19

After a year and a half of flight cancellations and border closings, this one deserves its own slot. As Delta and other Covid variants surge, it’s likely that travelers will be impacted by the virus for a while. Travel insurance policies have adapted to these new needs by adding Covid coverage to travel medical plans. This means that if you contract Covid while abroad, you’ll be covered for associated medical costs, including emergency care, hospital stays and other medical treatment. 

5. Accidents Can Happen

Unfortunately, no matter how much or how carefully you plan your travels, accidents can and do happen. This doesn’t mean that travelers should be scared or anxious about traveling, but it does mean you should be as prepared as possible. This is why buying travel insurance with benefits like rental car collision, flight accident protections and emergency medical evacuation is smart. If you’re planning on engaging in higher risk activities like mountaineering, scuba diving or snorkeling, it’s even more important that you find travel insurance with adventure sports coverage.  

6. Lost Luggage Can Ruin Your Vacation

Frequent travelers know all too well that luggage mishaps happen. When you arrive at your destination countries, your bags might not be there waiting for you. They could be delayed, damaged or even lost. If you have trip insurance, you’ll be covered for expenses related to retrieving your luggage or buying necessary replacement items.   

7. Missed Connections Are More Common Than You’d Think

We all know that things don’t always go as planned. This is especially true when it comes to pandemic travel. If your flight is delayed, interrupted, or cancelled, it might prevent you from catching a connecting flight. If you have trip insurance, the costs related to missed connections may be reimbursed. The benefits don’t just stop with missed flights. If you have cruise-specific travel insurance and you miss your port departure, any costs related to getting you to the next port of call so you can reunite with your cruise may be covered.  

8. Passports Get Lost or Stolen

Passports are very valuable. When you travel abroad, you may be vulnerable to passport theft. This is especially true for U.S. and Japanese citizens, as American and Japan passports are among the most sought after by thieves. To guard against this, keep your passport close to your person so it’s more difficult for criminals to steal. There’s also always a chance that you might lose your passport. If you have trip insurance, costs related to obtaining a replacement passport are covered. 

9. Flight Delays or Cancellations Cost Travelers Money

A flight delay or cancellation can derail your whole trip. Even when the flight delay or cancellation is beyond your control, such as when an airline cancels the flight, you’re still responsible for any prepaid accommodation or event expenses. Trip insurance can help mitigate these costs. 

10. Travel Insurance May Be Mandatory 

The pandemic has changed a lot of things about travel, but most of these have to do with traveler safety. This includes making travel insurance mandatory for foreign visitors, as some countries, like Costa Rica and Aruba, have already done. What’s more, many major cruise lines also require travel insurance. These travel insurance restrictions are meant to protect both the locals and the tourists. To find out if your destination country requires travel insurance, you can go to the country’s website. 

Of course, these are only the major reasons we recommend buying travel insurance. There are many benefits to trip and travel medical insurance. 


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Disclaimer

Plan features listed here are high level, provided for your convenience and information purpose only. Please review the Evidence of Coverage and Plan Contract (Policy) for a detailed description of Coverage Benefits, Limitations and Exclusions. Must read the Policy Brochure and Plan Details for complete and accurate details. Only the Terms and Conditions of Coverage Benefits listed in the policy are binding.