Is Travel Insurance Worth It?
You’ve booked your next dream vacation, and you’re ready to start preparing for the trip. But before you start packing and making arrangements to the airport, there is another important factor you should consider: Travel Insurance.
Of course no one likes to spend more money, but the truth is that anything can happen when traveling, and it’s a good idea to be covered just in case. Below are some of the most common ways that vacations get ruined and how travel insurance can help.
Protect Your Investment
Travel is often a personal investment; something for which you’ve spent lots of money and time. However, even the best planned trips can get derailed by events out of your control. Trip delays, interruptions, or even cancellations can cause unexpected headaches and expenses, but travel insurance will help make sure you are covered for any adjustments you need to make to overcome these situations. And should something worse happen, like a medical emergency or loss of employment before your trip even begins, you’re covered and can get reimbursed for all paid trip expenses, giving you peace of mind and dollars back in your wallet.
Lost or Stolen Luggage
Lost or delayed luggage can put a damper on any vacation, as most lost bags take five days to return to the owner. Stolen luggage is obviously worse as it’s unlikely that you’ll ever get your luggage back. Should your suitcase get delayed, lost or stolen at any point during your trip, travel insurance makes sure that you are covered for up to hundreds of dollars in reimbursement if you need to purchase new clothes, toiletries and other essentials for your trip right away.
Medical Emergencies While Overseas
If you’re venturing abroad, travel insurance can be incredibly helpful in case a medical emergency occurs. Even if you are considerably healthy, foreign elements can negatively impact your, or random accidents can occur. In fact, anywhere between 30-50% of travelers stateside and abroad will become ill or injured at some point during a trip.
Unfortunately, most American health insurance policies are ineffective or minimal overseas, and medical bills can quickly become astronomical. In the case of a medical evacuation, the cost on average is $60,000 and some places require payment before being treated. A good travel insurance policy will help cover your bills for doctor visits, hospital visits, and other medical bills relating to illness, accidents, or any other medical emergency that might occur while traveling in a foreign country.
Car Rental Accidents and Break-Ins
When booking a rental car, it’s important to check with your current auto insurance provider to see what kind of coverage you have while traveling in a rental vehicle. In most cases, insurance companies do not provide sufficient coverage for travelers. With travel insurance, you’re covered in case you get into an accident, or if your car gets broken into or stolen. Often times, this insurance coverage will be much cheaper than if you purchase the additional insurance directly from the car rental company and any claims made won’t appear on your own personal insurance.
If you have further questions about travel insurance or if you need to purchase an insurance package for an upcoming trip, shop our travel insurance page or stop by your local AAA store.