I have a love/hate relationship with insurance.  I love having it when I need it, I hate paying the extra when I don’t.  However, insurance is something you hope you never need to use, but you get it anyway.

It seems there are insurance plans for everything….your car, your home, your teeth, and your health… But oftentimes people forget that their normal insurance policies typically won’t cover stolen items or accidents/health issues which occur overseas. This is where travel insurance comes in.

Actually, there are many reasons for taking out travel insurance.  Seasoned travelers are well aware that flights, hotel reservations, car rentals, cruises, land excursions and medical expenses are often not covered in the event of a trip interruption, illness, injury or even death.  Let’s not forget about the large numbers of travelers who found themselves stranded when a global pandemic broke out and the world came to a halt.

More commonly someone suddenly falls ill or is injured before leaving on a trip or while abroad. Maybe there is an unexpected job loss or a death in the family and the trip needs to be cancelled.   Without insurance, you are likely stuck with the cost of your ticket and you may find yourself on the hook for any hotel and car reservations you have made.  These expenses can really add up.

In a different scenario, maybe you made your first flight, but perhaps the plane sat on the tarmac or the flight was rerouted due to weather.  Perhaps this caused you to miss your connection or even to  miss the departure of your cruise.

If you have “missed connection coverage” on your travel insurance, you will have the option of taking another flight to the next port-of-call, or taking the next available flight to your destination,  You might even be able to stay in a nice hotel while waiting.  Without trip insurance, you may be stuck.

Imagine that you are on your dream vacation when a storm damages the area.  Hurricanes, tornadoes, floods, blizzards and more can all disrupt your plans and/or cause damage to your property.  Travel insurance can protect you during these times.

Let’s say you fall or become ill during your trip.  Maybe you require emergency dental care or surgery.  Without travel insurance, you will be paying out of pocket for these expenses.  Many health and dental plans will not cover expenses out of network and even fewer emergencies may be covered when you are out of the country.

In a worst case scenario, you or your partner dies while on vacation, there will be expenses to get the body home.  Since preparations must be made to move a body, these are likely more significant than booking a seat on the next flight.

Most people think of travel insurance as a way to cover their expenses should they need to cancel, however travel insurance may offer so much more:    It may pay for replacement clothing and supplies if your luggage is delayed;  it may reimburse you for lost luggage;   It may cover medical expenses if you are injured or fall ill;   If your trip is cancelled or interrupted for any reason, your trip insurance may provide some protection and/or cover all or at least part of the associated expenses;   If you injure someone while driving a rental vehicle, your travel insurance may offer third party liability;  If you are the victim of a hotel/motel burglary, or you have items stolen while on a train (or at the beach, or while on tour or….) your insurance may replace your valuables;   If you have a death  or dismemberment while traveling, your policy may provide repatriation and/or offer liability coverage;  If political unrest suddenly breaks out and repatriation is required, you policy may provide for emergency evacuation.

Like most insurances, a small investment up front can protect you for most disruptions while offering peace of mind while you travel.

In general, the more complicated and/or expensive the itinerary, the more beneficial it is to have insurance.

For most international travel it is worth taking out insurance.

The more challenging your health history, the more beneficial it is to have additional insurance.

Trip insurance is usually less expensive the further out it is purchased.  Sometimes there are incentives to purchasing within days of finalizing your plans (such as covering pre-existing health conditions).

Always read the fine print to understand what your insurance will and won’t cover and the terms for each portion of your policy. Not all policies cover everything,

Always check with your existing policies (homeowners, auto, medical and life) to see what coverage you may already have.

Some credit cards offer additional protections based on your status.

If you will be doing high risk adventures such as scuba diving or jumping from planes, you may consider adding accident insurance to your travel insurance.

It can be overwhelming to choose a travel insurance.  There are many insurance companies to choose from and depending on your itinerary, activities, health and expenses, you may need different coverage.  We like using the website www.insuremytrip.com to help narrow down which policy will best suit for our needs.