Imagine the wedding of your dreams, maybe it’s in a beautiful old church, surrounded by the people you love, maybe it’s outside in a field of wildflowers, a priestess performing the ceremony, or maybe it involves eloping in Vegas in front of Elvis. Now, picture your honeymoon. You can go anywhere, Europe, Australia, or Hawaii. You arrive at the hotel, unpack and get ready for a romantic dinner with the person you have chosen to spend the rest of your life with, the one who you love more than anyone else. Suddenly, the love of your life is not feeling so hot. He’s throwing up all night in the hotel bathroom and later, being rushed to the hospital to have an emergency appendectomy in a foreign hospital and you have no clue how to cover the expenses. He’s too frail to be taken home right away, so you pass the time sitting by yourself in the hotel bar, waiting for this nightmare to end. Granted, this is a worst case scenario, but this situation does happen and when it does, travel insurance definitely comes in handy. Not every trip warrants it, but sometimes it is better to be safe than sorry. This following paragraphs will give you all you need to know to answer the question” “What is travel insurance and do I need it?”.
3 Main Areas of Coverage
Medical Emergencies & Evacuation: Don’t get caught in a situation like above. If you are traveling internationally, it’s important to stay covered in case of injury or illness. If the medical emergency requires transport to a major hospital for treatment, this is taken care of as well. Coverage is usually around $10,000-$50,000 for emergency medical care.
Trip Cancellation & Trip Interruption: Trip cancellation and Interruption insurance will reimburse non-refundable travel costs, such as if your trip is canceled or delayed due to a natural disaster or illness. If the dollar amount of the trip is in the thousands and your ticket is nonrefundable, then cancellation Insurance makes sense. Otherwise, there is no need to bother.
Baggage & Personal Belongings: It’s happened to all of us. You turn your back for just one second to talk to the bellhop and when you look again, something goes missing. These situations can easily be taken care of with Baggage and Personal Belongings Insurance, which comes in handy if your personal items are stolen, or if your luggage is lost or delayed. The average amount paid is around $500 per lost baggage and $100-$300 per baggage delay.
When Travel Insurance is Necessary
International Trips: For travel outside the U.S., you may want to consider international travel insurance to cover medical expenses should you get sick or injured while abroad. Climbing Mt. Everest is a great idea, in theory, but the risk of injury is high and you don’t want to end up in a Japanese Hospital with no medical coverage!
Cruises: Cruises contain all the travel red flags: a hefty upfront payment, international travel and higher risk of problems. It only makes sense to get insured in case something goes awry.
When You DON’T Need It
Domestic Travel: If you have decent medical insurance plan, you are covered anywhere you go in your country of origin. The cost of travel is usually more reasonable so there is no need to get insurance coverage for that.
Flights: Usually, it is not worth the extra expense to cover flights, especially in the situation of flight delays and cancellations. Be sure you know your rights as an air passenger. If there is a cancellation, you are entitled to the next available seat on the next available flight going to your destination. If you experience significant delays, you will be compensated. Services like AirHelp ensure that you receive the necessary payout.
Complimentary Travel Insurance Through Your Credit Card: Most credit card companies offer complimentary travel accident insurance as a perk. About half of them offer trip cancellation insurance and a quarter of them even offer some kind of lost luggage and delayed luggage insurance. Don’t pay extra if you don’t have to. Be sure to check with your credit card company first.
World Nomads: World Nomads is an excellent choice for travel insurance, if you decide that that is the way to go. They cover people from 140 countries and offer medical and evacuation coverage. There are multiple plans so be sure to read what each entails before you buy. You want to be fully covered in case of any emergency and World Nomad takes care of most situations. It is reasonably prices, has a 24-7 claims service and can be purchased or upgraded when you are already on your trip. World Nomads also covers a wide range of adventure activities, so Climbing Everest is a possibility!
Summing It Up
No one wants to deal with travel insurance and in most cases you don’t have to, but in those rare instances, it is important to be prepared.
Have you been in a situation where you wish you had travel insurance? Do you think it’s worth it? Comment below! I want to hear from you!