Who Needs Trip Cancellation Insurance?
It’s wise to get trip cancellation coverage for the following reasons:
- Expensive Trips: If you’re going on an expensive trip, it’s always a wise decision to insure yourself in case you need to cancel the trip. This will help you protect yourself against the financial loss that you might face due to cancellation of the trip.
- Travel plans made in advance: If you’ve booked your travel tickets far in advance of your departure date, the chances of an unforeseen incident are high. In such a case, it’s advisable to get trip cancellation coverage.
- Cruises: It’s quite difficult to cancel a cruise booking. Trip cancellation coverage would give you the peace of mind that you’re covered against unforeseen incidents.
- Traveling with kids: Kids can fall sick easily. If your child gets sick at the last minute and you’re forced to cancel the trip, insuring yourself against last moment cancellation protects your investment in the trip.
Important Things to Know:
- Most of the plans are available for U.S. or Canadian residents
- The insurance policy covers you for 30 days, beyond which an additional per-day fee is charged
- Pre-existing condition coverage is available if you buy trip coverage within a restricted time limit mentioned in the plan
- Basic trip coverage generally includes trip cancellation, trip delay, trip interruption, baggage loss/delay, emergency medical coverage
- The pricing and cost of a trip insurance policy depends on the trip cost and age of the traveler
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