3 Reasons Why You Need Trip Insurance Right Now

To buy trip insurance or not. That is the question.
If you buy it, you’re spending even more money on the trip. If you don’t insure your trip, you risk not being compensated at all for delayed or canceled travel plans.

There are some good reasons you may need it if you’re concerned about an expensive trip you’re taking.

This article will trip insurance in a very detailed way, including why you should consider buying it for some types of travel.

What is trip insurance, you say, and why is it important as ever right now? This article is going to cover all that and then some.

Trip insurance: What You Need To Know Before You Travel

If you’ve book a cheap flight out of Atlanta or another city, the COVID vaccination rates will play a large role on not only where you can go, but if the country will accept you.

What Is Trip Insurance?

Because insurance companies are in the business of making money, trip insurance pays up to 75% of your travel costs.

That means you will lose 25%, but if you didn’t have any kind of trip insurance, you would lose 100% of your money!

Data-wise, about 30-40% of travelers buy insurance, per industry stats, and claims get filed for maybe 1 in 100 trips. Peace of mind’s the real kicker—studies show people who buy it stress less, especially older travelers or those with health issues.

Look at your risk tolerance, trip cost, and destination. Cheap domestic jaunt? Skip it. Two-week safari with a sketchy airline? Probably worth the 4-10% of your trip cost that insurance typically runs. What’s your specific plan—any details on where or how long you’re going? That’d narrow it down.

3 Reasons Why You Should Buy Trip Insurance

Anyway, here are three reasons why you need to buy trip insurance right after you’ve booked your travel.

1. You Can Cover Yourself Late

Trip insurance is viable as long as you purchase it before your flight or disembarkation.

Trip Insurance can be purchased as late as the day before you travel. That means you could theoretically wait things out to see if they get better. Just don’t wait too late!

2. Cover Your Medical Expenses

If you have an accident or scary medical situation in another country, your bill may be sky high because your insurance doesn’t travel with you. You’ll be subject to the laws of the land.

The only way you can ensure that emergency medical assistance is covered is if you have trip insurance.

3. Have Peace Of Mind

Another reason you should purchase trip insurance is for peace of mind. Having a missed flight or cancellation can worry you to no end, if you let it. With trip insurance, you can rest easy knowing that you’re covered.

If there’s an earthquake, terrorist attack or you’re robbed or even lose your passport, trip insurance can protect you like no other.

On the flip side, if you’re just road-tripping an hour away with minimal risk or cost, it’s probably overkill. Most policies cover things like trip cancellation, delays, lost baggage, and medical evacuations, but they don’t pay out if you just change your mind or the weather’s meh. Check what your existing health insurance or credit card already covers—some cards offer decent trip protection for free if you book with them.

Last Words

As a warning, one thing you don’t want to do is buy trip insurance from the airline, cruise line or tour operator you’re traveling with.

The reason is because those insurance plans are the worst. You need to buy from an independent trip insurer so that you’ll be impartially protected.

Happy trails and safe travels!