Why You Should Buy Travel Insurance
Airline meltdowns, wildfires, and global pandemics have shown us how quickly unexpected events can disrupt even the most carefully planned trips. It’s no surprise that the travel insurance industry is booming, with projections to surpass $40 billion in the coming years.
Travel insurance acts as a safety net, covering some or all of your expenses when illness, emergencies, or unforeseen circumstances disrupt your plans.
Of course, peace of mind comes at a price—typically 4% to 8% of your total trip cost. Is it worth it? That depends on your destination, the type of trip, and your tolerance for risk. Let’s explore what travel insurance covers, when it makes sense to skip it, and when it’s an absolute must.
What Travel Insurance Covers
Whether you’re flying to Europe or embarking on a cruise, travel insurance provides essential protection if your plans go sideways. Here’s what a comprehensive policy typically includes:
Trip Cancellation and Interruption: Covers nonrefundable expenses, like flights and hotels, if you need to cancel or cut your trip short due to a covered event, such as illness or injury.
Travel Medical Coverage: U.S. health insurance (including Medicare) usually doesn’t work abroad. Travel medical insurance steps in to cover illnesses or injuries during your trip.
Medical Evacuation: If you need advanced medical care at a different facility, this coverage can reimburse costs—often up to $100,000 or more.
Baggage Loss or Delay: Covers personal items if your luggage is lost, stolen, or delayed. Airlines have limited liability, but this insurance fills the gap.
Cancel for Any Reason (CFAR): An optional add-on that lets you cancel for reasons beyond the typical covered events, like job loss or a denied vacation request, and still get a partial reimbursement.
Travel insurance ensures that when the unexpected happens, you’re not stuck footing the bill.
When You Might Not Need Travel Insurance
Not every trip needs travel insurance. Here are scenarios where you might skip it:
For Domestic Travel: U.S. trips are often shorter and less expensive. If you’re road-tripping or taking a budget-friendly vacation, extra coverage might not be necessary.
If Your Credit Card Covers It: Some credit cards offer travel insurance perks, like trip interruption or baggage protection. Check your benefits before buying additional coverage.
For Flights: Airlines are required to rebook you in case of cancellations, and services like AirHelp can help you claim compensation for delays without needing insurance.
For Flexible Plans: If your hotels offer free cancellation or your trip isn’t heavily prepaid, you may not need extra protection.
In these cases, weigh the cost of insurance against the risks to determine if it’s worth it.
When Travel Insurance Is a Must
Sometimes, travel insurance isn’t just helpful—it’s essential:
For International Trips: Trips abroad are often costly and booked months in advance, making them more vulnerable to disruptions. With the average international trip costing $3,200 per person, comprehensive insurance protects your financial investment and offers peace of mind.
For Medical Emergencies: Health care abroad can be expensive, and medical evacuations can cost tens of thousands of dollars. Travel medical insurance ensures you’re covered in case of illness or injury.
For Cruises: Cruises involve large upfront payments, international destinations, and higher risks of delays or cancellations. Comprehensive coverage protects your investment and ensures smooth sailing, even if something goes wrong.
Ready to buy travel insurance?
Travel insurance isn’t one-size-fits-all, but it’s a powerful tool to protect your trip from unexpected disruptions. Whether it’s a canceled flight, a medical emergency, or a lost bag, travel insurance gives you peace of mind and financial security. Evaluate your trip’s cost, risks, and existing coverage to decide if it’s the right choice for your next adventure. When the unexpected happens, you’ll be glad you planned ahead.
Protect Your Trip Today!
Compare travel insurance companies, explore policies, and get quotes at Squaremouth. If you purchase through this link, Wunderbird earns a small commission—thank you for your support!
👉 Affiliate Link: Squaremouth
👉 Travel Partner ID at Checkout: 22443
Thank you for choosing travel insurance and traveling with confidence!