Travel Insurance Pros and Cons

Travel Insurance--Airport

What Is Travel Insurance?

Travel insurance protects an upcoming trip against interruptions, cancellations, flight delays, lost luggage, and limited medical coverage.

In this article we will examine the travel insurance pros and cons.

What Is Covered?

  • Cancellation—Most trip insurance companies cover cancellations for a variety of reasons, including sickness, either yours or someone for whom you must care, a death in the family, natural disasters or epidemics at your destination or even terrorist activity, in the destination area.
  • Loss or Delays—Lost luggage, delays in reaching connecting flights or theft of your belongings can be very expensive,Thumbs Up particularly if a connecting flight must be made in first class instead of coach. Other incidentals including things like necessary hotel stays, meals and other reimbursements that arise from the delay or loss.
  • Emergency Evacuation—Some trip insurance plans will offer a separate line of coverage for evacuations. An evacuation can be extremely expensive when you consider the cost of possible airlifts, by helicopter or plane, from remote areas, medical flights back to the U.S. and other disaster-related expenses. When adding emergency evacuation coverage, plan for at least $100,000 of evacuation coverage, to be on the safe side. Also, check your plan to make sure the flight back home is covered.
  • Medical Expenses—Travel insurance provides coverage for medical expenses. Plans offer limits as low as $20,000, but it is a good idea to seriously consider much higher limits. The last thing anyone wants is to be stressed out about the fear of running out of coverage because the limits selected were too low.

Assistance Coverage—Travel insurance plans offer assistance coverage as a general catchall. This is a phone number reachable from anywhere in the world, at any time of day or night. Make sure your plan extends coverage to the country to which you intend to travel.

What May Not Be Covered By Travel Insurance?

  • Taking part in extreme activities that involve the risk of death Thumbs Down
  • Playing Professional Sports
  • Learning to Fly a Plane
  • Medical Travel
  • Dental Treatment
  • Pregnancy

Pros of Travel Insurance

  • Peace of Mind—The primary reason for buying travel insurance is that it gives you peace of mind. The fear of what can go wrong during a trip may keep you from enjoying yourself. Having travel insurance insures peace of mind even if the unexpected happens.
  • Provides Compensation for Lost Things—It’s likely you will bring some expensive items while on the trip, such as your wallet, camera, phone, etc. If these items are lost or stolen, your travel insurance plan can cover some or all of these expenses.
  • Coverage for Medical Expenses—Anyone can get sick or meet with an accident at any time. But, the chances of getting ill are high while traveling due to the sudden change in weather, food, water, and time zone. Health care can be quite expensive. Travel insurance can provide coverage for medical expenses during the trip arising out of accident or sickness.
  • Saves You Money in the Long Run—If you book a trip worth thousands of dollars and the entire amount is non-refundable, what would you do if the trip is canceled due to a sudden earthquake or civil war? You would lose all your money. But, travel insurance would help you recover some or all of these costs.

Cons of Travel Insurance

  • It can be expensive—One major drawback of buying travel insurance is the cost.
  • Might not provide coverage for pre-existing diseases—Most travel insurance plans only provide coverage for unpredictable medical expenses during the trip, and do not cover pre-existing medical problems.
  • Travel insurance claim may get rejected—There is always a chance of the rejection of a travel insurance claim. Therefore, one must go through the terms and conditions of your travel insurance policy carefully.

Should I Get Travel Insurance?

Yes or No

Looking at the pros and cons of travel insurance, the advantages seem to outweigh the cons. In summary, travel insurance is worth the money if for nothing more than the peace of mind it provides.

I look forward to reading your comments and don’t forget to share this article with friends and family.

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