Travel insurance can be a confusing part of traveling, especially when so many travelers are unsure of whether or not they actually need it. When in doubt, it's always better to be insured on a trip rather than not, because the fact is, things do happen. A secondary problem occurs when there's confusion about travel policies, what and who the policy covers, how long it lasts, what the costs and fees are, and the list goes on and on. These complications are usually why so many people shy away from purchasing a policy because of the money, plus the time needed to actually understand the policy often outweighs the need in a traveler's mind.
So, when it comes down to it, is travel insurance actually worth it? It makes sense that it would be during the time of a global pandemic - but under normal travel circumstances, is it something that a traveler should always consider purchasing? And if not, then when is travel insurance a good idea? It's time to find out, once and for all, when a policy is appropriate and how it can help on future vacations.
For Starters, Is It Even Worth The Money?
In short, it can be. Obviously, that's not much of a descriptive answer. However, 'yes' is the obvious answer considering travel insurance is designed to cover all of the unexpected aspects of travel. Depending on the policy, travel insurance can even cover services needed to take care of a situation - such as emergency or rental services - which can be a huge help, and a bit of peace of mind, while traveling. A policy can also cover things such as cancellations and lost baggage. So, yes, as long as a plan is comprehensive and covers most aspects of travel, then it is definitely something to consider.
How Late Is Too Late To Buy Travel Insurance?
Most policies can be applied up to 24 hours before a trip. With that being said, if there's a specific policy that a traveler has in mind, it's best to purchase it sooner rather than later.
Waiting too long can make travelers feel as though they're forced into a policy which can then lead to things being overlooked or forgotten.
How Much Can A Traveler Expect To Pay For Insurance?
This number will always vary based on the trip and what's actually covered. As a general rule of thumb, according to Travel Guard, most policies cost anywhere from five to seven percent of the entire cost of the trip itself.
The good news is that travel insurance companies are able to provide a quote and, if done well enough in advance, this allows the traveler some time to decide and compare policies and prices. It might seem like a time-consuming process, but it's really one that's worth it in order to know that no matter what, a trip is covered.
Who Can Be On The Insurance Policy?
This will vary from company to company but, for the most part, only those living in the same household - or family members - will be allowed on one policy. Aside from that, any additional travelers will probably need to purchase their own plans. Before committing to any one policy, it's important to determine who needs to be on the insurance as well as the policy for pre-existing conditions - this is another thing travelers commonly forget about. A pre-existing condition might require amendments or additional insurance, or just a different policy, altogether. It's better to plan for everything which can sometimes mean doing a little bit more research.
Does Transportation Make A Difference?
Of course, with any policy, it will make a difference whether a person is taking a cruise, flying, or driving. Different policies ensure different aspects of travel - for example, lost luggage would be part of a flight policy. This, obviously, would not be something travelers were concerned with if they were driving, so that's one way a policy will differ from one trip to the next. For cruises, something such as an evacuation or a cancellation would be covered in a full policy for the trip. This is why it's so important to ask questions and get a quote because some aspects of travel might be covered without a person even realizing it. Alternately, there might be some concerns that traveler has about what should be covered, and things like this can be added at an extra cost. Some insurance policies also include a 24-hour support line, which might be worth the price for some trips, regardless of the method of transportation.