Travel insurance is a plan you purchase that protects you from certain financial risks and losses that can occur while traveling. These losses can be minor like a delayed suitcase or significant like a last-minute trip cancellation or medical emergency.
Travel insurance is an optional add ons to a trip so you may wonder- do I really need it? Veering on the side of caution we have always taken out a trip insurance policy that covers at least minimal things like trip interruption, lost baggage and some medical. Sometimes it’s just better safe than sorry! In all our years of travel, there have only been a handful of times we’ve actually needed to file a claim. For the most part they’ve been for a hotel night and food costs related to a cancelled flight home. Not a huge event but still costly when you’re a family of five. However, there was one trip where we definitely made our money back for all those years of purchased and unused insurance.
A couple years back we took a cruise out of Miami. As soon as we landed one of my children started to complain they didn’t feel well. We gave her some ibuprofen, boarded the ship and were on our way. Unfortunately, by the next day she had a high fever and was miserable. Ibuprofen wasn’t cutting it anymore so we ended up navigating the long maze of hallways below the ship to find the onboard medical facility. About 45 minutes later we made our way back to our cabin with antibiotics and a positive strep throat diagnosis. The meds worked great and within a day or two she was back to herself and able to enjoy all the amenities the cruise ship had to offer. Our health insurance did cover some of the fees but not all. Fortunately, the trip insurance picked up the difference. FYI doctor visits and medication on a cruise ship are not cheap!
Thinking it would be nice to explore a new city for a couple days, we reserved a hotel in Miami for two nights upon the ship’s return. We had a great visit but while packing the night before our departure we had a close eye on the TV as forecasters discussed a big snowstorm due to hit the Northeast. While enjoying our last hour at the rooftop pool and bar, we received the alert we feared was coming stating that the flight was cancelled. Fortunately the hotel wasn’t completely booked so they let us keep our room. Almost 65 inches of snow ended up falling over the next two days followed by yet another storm! Rescheduling a family of five on a flight that hundreds of others are also trying to get on is not an easy thing to do! Long story short, our quick three day visit to Miami ended up turning into six days! Three extra nights in a Miami Beach hotel plus the costs of food and beverages for five people adds up quickly!
Unexpected things can happen. Our daughter seemed completely healthy when we left home yet within hours was miserable. On top of that, how could we have known we’d end up travelling during two of the top snowstorms ever recorded in Massachusetts history! After submitting all the receipts for reimbursement, we ended up paying $0 out of pocket! Our insurance plan that cost us just over $150 covered all the extra medical expenses after health insurance, three nights hotel stay and all our food and beverages (including alcohol) from the time our flight was cancelled to the time we finally boarded the plane in Miami! Without insurance we would have tacked on an unexpected extra couple thousand dollars to our vacation. This trip reassured us that we should always get trip insurance!
In this COVID-19 world, even if you haven’t purchased travel insurance before, you might want to consider it now! With the risk of cancellations, closures, sickness and quarantines you’ll want to be protected.
The main types of travel insurance coverage include trip cancellation or interruption, baggage and personal effects, medical expense, accidental death and flight accident coverage.Travel insurance will vary by the provider on cost, exclusions, and coverage. In general, you should expect a plan will cost anywhere from 4%-10% of your total prepaid, nonrefundable trip cost. Just make sure you read all the disclosure statements before purchasing.
Also, it should be noted that these days international travelers often don’t have a choice as to whether or not to purchase. More than two dozen countries and at least one cruise line currently require insurance coverage before arrival.
In the end, the decision is really up to you. You need to consider where you’re going, what you’ll be doing there and how much you’re willing to lose or spend if something were to happen. As with most insurance plans, if/when you need it the benefits far outweigh the costs.
thanks to a blizzard!
