You've booked your dream trip and you're offered travel insurance, what do you do???
Whenever I'm buying insurance, I always wonder if it's worth the cost and what's the risk if I don't have it and something happens?
I'm not an insurance agent, but I can give you insight into travel insurance after working as a travel agent for 22 years. If you have specific questions it's always best to call the insurance company directly, to get your question answered specific to your policy.
Many travel insurance policies have a wide variety of benefits like trip delay and lost baggage. What I consider the two most important factors you need to be aware of are medical coverage and trip cancellation.
Medical Expense
If you would get hurt or sick while traveling, your travel insurance policy would cover all of your medical expenses. It also includes if you'd need to be airlifted somewhere or the expense of having to stay longer in your destination before returning home.
Trip Cancellation
Most trips are non-refundable or the cancellation fees increase the closer you get to your departure date. Your travel insurance policy will reimburse your cancellation fees provided that you canceled due to a covered reason.
Every policy is different, so it's important for you to know what your policies covered reasons are.
Typical covered reasons:
- Sickness, injury, or death of you, family member, or traveling companion
- Inclement weather
- Home or destination becoming uninhabitable
- Jury duty or involuntary job loss
92% of travel insurance claims are trip cancellations.
It's a personal decision and you need to make the decision that's right for you.
Factors that I consider when making my trip insurance purchases are:
- How far into the future is this trip?
- Will I be outside the country?
- How much will I lose if I have to cancel at the last minute and will it be detrimental?
At Premier Travel we're here to help you plan the trip of your lifetime. We'll help you to understand your trip insurance options so you can make the best decision for you.