One of those age-old questions with no clear solution is this one. Since 9/11, when fewer than 10% of tourists had travel insurance, the percentage of Americans who buy it has increased dramatically, to an estimated 30%.
You probably don’t need travel insurance if you’re traveling on a $150 ticket to visit Aunt Irma in Montana. However, travel insurance can be useful on a vacation like yours if something unexpectedly interferes with it. Compare the price of the trip and the policy as a starting point.
The instances when travel insurance is most frequently useful are:
- Your trip must be canceled owing to illness;
- your flight is canceled;
- your passport and wallet are stolen;
- you need medical attention when traveling overseas;
- your passport and wallet are stolen.
- An unexpected cyclone strikes the location you are visiting
- The bankruptcy of your airline, cruise line, or tour operator
Reasons NOT to purchase travel insurance are:
- You worry about terrorism.
- A hurricane will make landfall at your destination (this applies if the storm has already been named by the National Weather Service)
- Your pet is sick.
- Your flight is so far behind schedule that you want to reschedule
One very important warning: Never buy travel insurance from the same tour company or cruise line that you’re traveling with. If that business fails, there might not be enough money to pay for your claim. Utilize a supplementary provider (that includes travel agents).
Don’t forget about health insurance either. In nearly all circumstances, your current health insurance does NOT cover you being evacuated and flown back to the United States, even if you are covered for basic emergency care abroad. Here, a policy known as “Medical Evacuation and Repatriation” insurance is helpful. You pay a yearly premium, and should you become ill or wounded abroad, the insurance will cover the cost of having you treated, stabilized, and flown back to the United States to the hospital of your choosing—not theirs. There are several reputable businesses that offer this kind of package.
CLICK HERE to see one of the best companies that will help you with all your travel plans.