It’s common to obsess over things like itinerary, hotels and sightseeing when booking travel plans. But what about being prepared for the unexpected? An astounding 78% of Americans opt out of travel insurance policies when booking their flights. Most American travelers consider travel coverage confusing, a waste of money or just entirely useless. With so many companies offering a wide range of policies and travelers being unclear of what is travel insurance, it’s no wonder only 21% of people actually buy coverage.
So do you really need travel insurance? Let’s break down the main reasons travel insurance may be the smartest decision for your upcoming vacations.
5.) Less Worry About The Unpredictability of Travel
The No. 1 reason you need travel insurance is because you never know what could go wrong, and once you familiarize yourself with exactly what benefits can provide, you can decide which policy would work best for you.
With the amount of money that we spend on trips, not purchasing travel insurance is just too great of a risk. The amount of money spent on a trip could be doubled by a simple accident or mishap, and, most times, these things are out of your control.
Every day, flights are canceled and delayed, which can cause a myriad of problems and cost you a lot of money. Nowadays you can’t rely on an airline to take care of you, so instead of leaving your travels up to fate, getting insured will give you the ultimate peace of mind so you can fully enjoy your trip the way you’re supposed to.
4.) You’ll Be Prepared for When Accidents Happen
Thinking about accidents and medical emergencies may not be the first thing that comes to mind when you’re booking your vacation, but being prepared for the worst is always better. There is nothing worse than having to spend an extra thousands of dollars in medical bills because of an unforeseen injury from you or your travel partners.
Every travel insurance company is different and offers distinct packages that you can choose from. From deductibles, emergency medical evacuation coverages, to trip cancellation due to sudden illness, you won’t have to worry about losing thousands of dollars when you’re insured.
For adventure travelers, it’s a good idea to familiarize yourself with medical coverage for extreme sports or activities that you may do. Companies like World Nomad offer coverage for extreme sports like bungee jumping and skydiving for the more adventurous types out there.
3.) Flight Delays and Cancellations Are All Too Common
Anyone who has traveled has most likely had at least one terribleexperience with an airline. Flight cancellations, major delays and missed connections are all apart of the less-pretty side of travel, and during peak travel months, it’s more than likely to happen. What is travel insurance for, if not for instances like these?
Travel insurance can compensate you for your missed connections or major flight delays, or even reimburse you for the inconveniences experienced as a result of airline issues or even issues leading up to the flight.
2.) You Could Lose Pricey Items or, Worse, They Could Be Stolen
The great (and overwhelming) thing about travel insurance is that youcan choose a plan that is catered to your needs. When most people travel, they bring along expensive electronics or belongings. With the amount of popular destinations that are known for pickpocketing and hotel room theft, it’s important to have coverage for any items that may be lost or stolen on your travels.
While shopping for the right travel insurance, you can find a policy that will reimburse or compensate you in the case of theft or lost items on your trip.
1.) The Airline Could Lose or Mishandle Your Luggage
While the number of lost baggage continues to dwindle each year, airlines still lost or mishandled about 21.8 million bags last year alone. It’s better to be safe than sorry when it comes to your valuables when traveling, even if the airline doesn’t lose the luggage. After all, the chances that your luggage will be lost may be slim, but there’s a bigger chance that the airline may mishandle it, or that it will arrive to your destination later than you do.
One thing that travel insurance policies can offer is compensation for extra items purchased while waiting for your bags to be delivered in the case that they’re lost or delayed.
Do you have a better handle now on what is travel insurance? Has it saved you in the past, or is there a time you wish you had it? Share your experience in the comments below!