Traveling is an adventure filled with excitement and new experiences. However, unexpected events like medical emergencies, trip cancellations, or lost luggage can quickly turn your dream vacation into a nightmare. That’s where travel insurance comes in. Here’s why you need it and how to choose the best plan for your next trip.
Let me start off by telling my personal story about having travel insurance. One month before our scheduled wedding and honeymoon in March 2020, the world shutdown. We were supposed to be travelling to Jamaica for a week. At first, no one really knew how to approach travel cancellations. As a healthcare professional, I knew we had to cancel the trip. Luckily we had purchased a travel protection plan so I wasn’t worried about losing the thousands of dollars we had already invested as it was past the final payment date.
Myths on why people say you don’t need travel insurance
- “I am young and healthy.” (Do you still have health insurance and car insurance? Yes, because you NEVER know what is going to happen.)
- “My credit card has trip cancellation coverage.” (What about medical emergencies or flight delays/cancellations requiring you to miss multiple days of your trip.)
- “I have been on numerous vacations and never needed it before.” (It only takes one unforeseen circumstance to regret this.)
Imagine you need to be airlifted of the ski slopes in Switzerland; or you just landed in Jamaica, enjoying the beautiful beaches and you slip and fall and break your hip.
Most Travel Protection Plans Include Coverage For:
- Medical Emergencies: Covers expenses for hospital stays, doctor visits, and emergency evacuations.
- Trip Cancellations and Interruptions: Reimburses non-refundable costs if you need to cancel or cut short your trip.
- Lost or Delayed Baggage: Compensates for lost, stolen, or delayed luggage.
- Travel Delays: Covers additional expenses for accommodation and meals due to delays.
- Personal Liability: Protects against lawsuits if you cause injury or property damage.
How to Choose the Best Travel Insurance Plan
- Assess Your Needs: Consider your destination, trip type, and activities.
- Compare Plans: Use comparison websites to evaluate coverage limits, exclusions, and premiums.
- Check the Fine Print: Understand what is and isn’t covered.
- Look for Flexibility: Ensure the plan allows extensions if your travel plans change.
- Seek Recommendations: Ask friends, family, or travel agents for advice.
Top Travel Insurance Providers
- Allianz Global Assistance: Comprehensive coverage with excellent customer service.
- World Nomads: Great for adventure travelers, covering a wide range of activities.
- Travel Guard by AIG: Customizable plans with extensive coverage options.
- AXA Assistance USA: High medical expense limits and 24/7 emergency assistance.
- Berkshire Hathaway Travel Protection: Fast claims processing and reliable support.
When making a booking through an online supplier (which you should never do if you hire a travel advisor…), most vendors will offer a travel protection plan. It is usually found at the very bottom, right before you click submit. A lot of times this is super convenient because you don’t have to go to another website to purchase a protection plan. Before just automatically adding it, check to see who the underwriter is and if they are a reputable company. Make sure you understand what it covers and what it doesn’t.
My Top Recommendations On When You Should Invest In Travel Insurance
- Travelling to a destination that is in the hurricane zone
- Spending more than $3,000 on one trip
- International travel
Investing in travel insurance ensures peace of mind, allowing you to enjoy your journey without worrying about unexpected setbacks.
** I am not authorized to sell travel insurance. Please refer to your specific plan’s terms and conditions on the specific coverages.
