I wish I had money for every time a client asks me, “do I really need travel insurance?” The answer is YES!!!!! Of course, there are some instances, let’s say you are only doing an overnight inexpensive hotel stay, and in that case, no you don’t need travel insurance. But most cases, 100% YES!!!
#1 Vacations are Costly!
Bad things happen and it always seems to be an out of the blue emergency that prevents you from taking your vacation.
I have heard from my clients one too many times, “Nothing is stopping us from taking this vacation, so we won’t need travel insurance.” Famous last words! A hurricane hits your house and you lose everything; true story! Your brother dies from Covid a few days before you travel, another true story. Your father dies unexpectedly a week before your cruise, etc……
You have just paid $8k for the trip of a lifetime and you don’t purchase travel insurance because you just know nothing is going to happen. But then it does and when you call the cruise line (or resort) and explain what happened, they’re sympathetic — but you’re not getting your money back. Company policy clearly states that there are no refunds if you cancel within 14 days of departure. Once final payment has been made, you are pretty much out of luck.
Situations like these are why travel insurance is a must. When you have travel insurance with trip cancellation benefits, you can get reimbursement for prepaid, nonrefundable trip costs when you must cancel for a covered reason. Covered reasons can include situations like the covered serious illness or injury of the insured person, a travel companion or a family member; the death of the insured traveler, traveling companion or a family member; a natural disaster or other event that renders your destination uninhabitable; etc.
#2 Medical Services Overseas are Expensive!
Example: You’re taking this incredible excursion ride on an ATV in Mexico and on this tour, you slam into a big bolder and break your leg. You arrive at the hospital and your medical bills climb into the tens of thousands.
Or even worse, you get this horrible illness and need medical evacuation; you can only imagine what that will cost and it does happen!
As the U.S. State Department notes, “many foreign medical facilities and providers require cash payment up front and do not accept U.S. insurance plans. Medicare does not provide coverage outside of the United States.”
When you have travel insurance with emergency medical benefits, it can pay for losses due to covered medical and dental emergencies that occur during your trip. Emergency medical transportation benefits can pay for medically necessary transportation to the nearest appropriate medical facility, as well as the cost of getting you home following a covered injury or illness.
As you weigh the small cost of buying insurance against the massive costs of a medical emergency overseas, it’s a no-brainer.
#3 Do you really want a minor mishap to ruin your trip?
A vacation is an investment in your happiness. And when that vacation starts off with a canceled flight, a missed connection, a missing bag or another travel hiccup, that happy travel feeling fades.
Travel insurance can help make these situations better. Travel Delay Benefits can reimburse you for additional accommodation/travel expenses and lost prepaid expenses due to a covered departure delay of six or more hours. Baggage Delay Benefits can reimburse you for the reasonable additional purchase of essential items during your trip if your baggage is delayed or misdirected by a common carrier for 24 hours or more. Several more benefits address other common travel mishaps, so check your plan to see what’s include
#4 Hurricanes Happen
When a hurricane or winter storm closes the airport for days, keeping you from reaching the resort you’re heading to, you could lose the cost of airfare, side trips and even what you’ve paid for the resort. Buying your travel insurance policy when you book your trip may help you get reimbursed for these costs.
#5 Even Expert Travelers Need Help
One of the best reasons to buy travel insurance is the peace of mind you get from knowing help’s just a phone call away.
When you face a crisis while traveling—a medical emergency, a lost passport, a stolen wallet, a natural disaster, etc. having that peace of mind knowing you have that insurance protection and it’s just a call away, will make your travel less stressful.
Cost is the number one reason people don’t buy travel insurance. I totally understand! If you’re already paying thousands for a long-awaited cruise or resort vacation, it’s tough to spend even a little more on insurance.
But keep in mind, all of these reasons I have mentioned can and have happened to my own clients. And the stress they had to deal with knowing they did NOT purchase travel insurance was overwhelming. They won’t make that mistake again. And the cost of what you will need to pay, should any of these occur, is NOT worth it!
Spend that small amount on insurance and receive peace of mind.
Reach out to me if you need advice on Travel Insurance and/or a much needed vacay!
Information taken from Nationwide, Allianz, and Travel Insured; companies offering really comprehensive travel protection and my agency highly recommends.