Travel Insurance 101

In the feature this week we’ll be talking insurance. Do you really need it when traveling?

The short answer to this question is YES.  You DO need travel insurance. Of course, the decision is ultimately up to you but here are some of my thoughts and experiences with it:

Travel insurance provides peace of mind and it helps protect your travel investment.  You can relax, not worry about the “what ifs” and enjoy your vacation. IF something were to happen and it’s covered, insurance is your saving grace.

You’ll get your money back if you have an eligible claim.  On my dream trip to Cambodia last year I ended up sick. After two visits to a doctor I had a sizeable bill. Fortunately I had insurance, the visits and meds were covered and I filed a claim immediately upon my return. I had a check in the full amount one week later.

If you’re traveling internationally (in particular) health care plans from the US most likely won’t cover you in the event of a medical incident (or they will partially, based on your plan) and the associated costs can be expensive! I had a companion on my trip to the hospital in Cambodia who thought he had a blood clot in his leg. After calling in a specialist and extensive ultrasounds, he was paying thousands out of pocket. He had insurance (and thank goodness no clot).

Insurance isn’t just for international travel, I recommend it for domestic travel and cruises too. It’s pretty tough to avoid the cancellation penalties of airlines and cruise lines, so protect yourself! I got the dreaded call from my sister when she was on vacay in Orlando with my folks last year.  Mom had a heart attack, was airlifted and remained at the city hospital for a week.. Numerous flight, hotel and car rental reservations needed to be changed and/or cancelled. Unfortunately, her flight was non refundable and there’d be penalties to make changes. She didn’t have insurance and I’m still advocating for her on this one - almost a year later.

When reviewing travel insurance options read the terms of coverage and fine print. This is true if you’re using the travel insurance offered by your credit card, travel insurance by the cruise line or a true insurance provider. Don’t hesitate to call them if you have any specific “what if” questions before making your final decision.