Is Travel Insurance Worth It?

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You’ve been planning your dream vacation to some far-away secluded place for years and it’s finally close to becoming a reality. You’re going to hop on a plane, fly half way around the world and take a jeep to some place where the elephants roam free and people run around in only a loin cloth. It’s been your dream for a long time but the reason it’s only been a dream is because of the cost.

There are five figures of expense involved in this trip and if something happens that either cancels or cuts your trip short, you don’t want to lose that money. Travel insurance has been around for longer than you might think but it has taken more of a front seat in the high dollar world of insurance sales but like all insurance, it’s not as cut and dry as you think. Travel insurance doesn’t protect against loss without any complication. Oh, certainly not! We need to dive in to this and see what we need to know.

Airline Delays? Yup!

What happens if you’re going overseas for a certain event and because of some issue that you don’t even want to think about, your flight is delayed and you miss the event? Travel insurance will cover some of the expenses associated with that. Airlines will help you get rebooked but other than picking up a T-shirt, what good does the trip do you now?

If you have travel insurance, they will cover the costs associated with the delay. Well, at least some of them. Of course the obvious line to throw in right here is, make sure to read your policy or talk to the agent who sold you the policy so you aren’t flying (or not flying) blind.

Activity Related Injuries? Yup!

So you were swimming with the dolphins in some lagoon and something far less friendly than flipper bit you. Didn’t seem like a big deal but it got infected, you swelled up like a big red balloon and it actually became something pretty serious. Travel insurance covers that too although they will probably expect that your health insurance take on some of the cost. Either way, you’ll have coverage and although the dolphin excursion didn’t turn out quite the way you had hoped, the medical bills are covered.

Rental Car Damage Protection? Buy it!

Often at an extra charge, your travel insurance policy will offer rental car damage protection. You were looking at the sights and the next sight you saw was an all too close up look at a tree. The car was totaled. If you use your auto insurance your premium will go up. That supplemental coverage with your travel insurance may be well worth the extra cost although you might compare it to the cost of coverage through the rental company.

The further away from home you travel the more you need travel insurance. It’s a relatively small expense for added peace of mind that comes with going on a high dollar trip. (Don’t get too close to the back of those elephants!)

{ 4 comments, please add your thoughts now! }

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4 Responses to “Is Travel Insurance Worth It?”

  1. Lucy Roach says:

    Definitely, definitely, definitely. Insurance is the way to go. That whole “peace of mind” bit is absolutely true. The last thing you want to do is to spend beaucoup dollars to travel somewhere and end up stuck all alone in a foreign land with a Damocles-esque financial crisis hanging over your head.

  2. Husker Avid says:

    I am a travel agent. I recommend travel insurance for clients when they book non-refundable tours and hotels.
    There is the caveat that often the insurance company will only refund the $150 (or whatever)airline rebooking fee–their reasoning is that you have the ticket money to use in the future.

    We switched commercial property insurers recently. The sales person recommended always buying car rental insurance. Although I have never done so before I bought car rental insurance on my next trip to Las Vegas. My car was backed into, at night, on the parking lot of my hotel. I had absolutely zero trouble with the car rental company. This incident made a believer out of me.

  3. Travel insurance can be worth it esp. if you are pregnant, our neighbors had bought tickets way in advance, the wife had complications and could not fly, she was going to see her doctor every week.

    Also if you’re really not sure you are going or your plans might change, but then, why are you buying the ticket?

  4. Marios Alexandrou says:

    I recently went on a trip to Botswana and I bought travel insurance. Because of the transfers required (small plans to remote camps) an unexpected delay would’ve thrown off the entire trip so insurance was worth it.

    However, for most trips I don’t bother especially when the destination has multiple options for getting there e.g. Europe or the US.

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