What Is Travel Insurance? Do you need it?

What is travel insurance? Well, you know it can help you get back on your feet financially if something unexpected happens that ruins your trip, like getting sick, hurt, having an accident, your flight or other transportation being delayed, or other problems.

How It Works

You can buy it online from travel agents, travel suppliers (like airlines and cruise lines), private insurance companies, or insurance brokers when you book your flight, hotel, or car.

Most of the time, you will buy insurance soon after making your first reservations for lodging, flights or other forms of transportation, activities, and rental cars. For some policies, you may need to do this to keep your full coverage. Here are some terms you should know about your insurance:

  • Primary and Secondary Coverage
  • Coverage Requirements
  • Policy Coverage Limits
  • Exclusions

Pros and Cons

Here is a table summarizing the pros and cons:

Peace of mindCost
Financial protectionExclusions
Access to careClaim process
RepatriationMay not cover everything
Coverage for lost or damaged luggageNot always necessary
Coverage for trip interruptions
Coverage for travel delays
Emergency assistance

Comprehensive Travel Insurance

It includes many types of coverage listed below, bundled into one plan. This type usually includes a 24-hour helpline that can help you find doctors or get help in an emergency. So it will also pay for medical costs and medical evacuations if you have to cancel, interrupt, or delay your trip. I can say it’s the best plan for multi-destination travel insurance.

Do you need it?

Consider insurance for expensive or long trips you can’t afford to cancel or rebook. If your health insurance doesn’t cover overseas costs, get travel health insur. Finally, you choose easy-to-cancel vacations: pay later for hotels and cars, opt for flexible cancellation policies, and rebook without fees.