WARWICK, R.I., Aug. 26, 2024 — As Americans continue to travel in record numbers despite rising prices and issues at the airport, understanding the importance of travel insurance has never been more critical. Whether you’re planning an exotic getaway, a cross-country adventure, or a quick weekend trip, knowing when to invest in travel insurance can save you time, money, and stress.
So, the experts at InsureMyTrip are breaking down the “Yes, No, and Maybes” of purchasing a policy – scenarios where travel insurance is a must, situations where it might be worth considering, and instances when you can confidently travel without it. The goal is to help travelers make informed decisions, so they’re covered when they need it most and not overspending when they don’t.
YES – You Should Consider Travel Insurance
While travel insurance isn’t mandatory for most trips, there are certain instances where we strongly recommend travelers purchase a policy, including, but not limited to:
- You’re traveling internationally – Most domestic health insurance will not cover medical bills abroad. So, if you become unexpectedly injured or ill while out of the country, you will likely have to pay for the hospital bill out-of-pocket, unless you have travel insurance with emergency medical coverage.
- You’re traveling during hurricane season – If your trip is canceled, delayed, or interrupted by a hurricane or other severe weather, having a travel insurance policy can help reimburse you for prepaid, non-refundable trip costs lost as a result of that storm.
- You’re taking a cruise – Due to the unique, multi-leg nature of a cruise, it’s important to consider travel insurance. Depending on the plan, a policy can protect you if you miss a leg of your trip or have a medical emergency.
- Your trip includes prepaid home/car rentals or event tickets – If these expenses are added into the total cost of a trip, a comprehensive travel insurance plan can protect you if your trip should be canceled or interrupted.
- You’re worried you might change your mind – Without travel insurance you would lose out on all your prepaid, non-refundable costs if you cancel because you no longer want to travel. A travel insurance policy with the optional add-on Cancel for Any Reason benefit allows you to cancel for something other than a covered reason, and still be reimbursed 50% – 75% of your total, prepaid, non-refundable trip costs. (Qualification requirements apply.)
NO – You Likely Don’t Need Travel Insurance
There are some instances when the expert at InsureMyTrip may suggest purchasing a policy isn’t necessary, including:
- You’re taking a short, domestic trip & staying with family or friends – If you’re taking a quick weekend getaway or a short trip within your home country, travel insurance may not be needed – especially if your health insurance covers you across the country and you’re not concerned about flight delays, or flight/accommodation cancellations.
- Business travel covered by employer – If you’re traveling for work and your employer provides travel insurance or will cover any unexpected costs, you likely won’t need additional coverage.
MAYBE – You May Want to Consider a Policy
This category encompasses all the above scenarios and more. Purchasing a travel insurance policy is a personal decision. Every traveler and trip are different. One traveler may be okay with losing out on prepaid expenses, while another can’t afford to take the chance.
When considering travel insurance, take inventory of the components of your trip, consider your personal risk tolerance, and any specific circumstances that might make insurance beneficial, like pre-existing health conditions, unpredictable weather, or non-refundable bookings.
MORE: Do I Need Travel Insurance
Still Unsure?
InsureMyTrip employs licensed travel insurance agents who can walk you through your options and help you decide if a policy is right for you. Then they can help you find the best plan for you and your trip at a price that fits your budget.
Media Contact:
Meghan Kayata
[email protected]
About InsureMyTrip
You like options. We do too. It’s simple. InsureMyTrip finds you the right travel insurance plan, every time. InsureMyTrip is the authority on travel insurance. We are committed to empowering travelers to make the best possible insurance decisions by leveraging our technology, data intelligence, and expertise. InsureMyTrip is rated A+ by the Better Business Bureau.
SOURCE InsureMyTrip
