Do you really need travel insurance?

With all the unexpected things that can happen while traveling, it’s tempting to purchase travel insurance in order to protect yourself from any potential trouble—but with so many different types of travel insurance and so many questions about them, it’s hard to know whether you need this extra coverage or not. Don’t worry; we’ve got you covered. Read on to learn about the kinds of policies and what they actually cover, then decide if travel insurance makes sense for your trip.

Travel Insurance Defined

Travel insurance (travel protection, trip cancellation, trip interruption, or whatever else it’s called) covers unpredictable mishaps that come up during your travels. You pay a flat fee and an insurer will reimburse some or all of your expenses if something happens to prevent you from finishing your trip on time. This might include medical emergencies, lost luggage, natural disasters, and much more. While most people don’t think they need it, travel insurance is actually quite useful in many situations. Here are a few reasons why:

If you have any kind of pre-existing condition, even one that’s controlled with medication, then you should definitely get coverage before traveling abroad. Even if your condition isn’t life threatening, having to deal with health care in another country can be extremely stressful when you don’t speak the language and aren’t familiar with local customs.

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9 Reasons Why You Need Travel Insurance

1. Unlikely but Possible Emergencies 2. Medical Bills 3. Lost or Stolen Luggage 4. Trip Cancellation 5. Currency Fluctuations 6. Accidental Death and Dismemberment 7. Excess Charges 8. Natural Disasters 9. World Event-Caused Delays or Cancellations If something happened to your family member, do you know how long it would take to replace that person’s income? What if a medical emergency caused them to miss work for an extended period of time? What if they had surgery overseas with no way to pay for it? What if they were hurt while traveling abroad and needed assistance getting home? Travel insurance can help with all of these scenarios, including those caused by natural disasters such as earthquakes, floods, tornadoes and hurricanes. While most people think about trip cancellation when purchasing travel insurance, there are many other reasons why you should consider buying coverage before heading out on vacation.

7 Pros & Cons of Having a Travel Insurance Policy

Here are some of the benefits of buying a policy: It will replace or reimburse your pre-paid expenses if your trip is delayed, canceled, or interrupted. If an emergency arises while traveling, it will provide peace of mind. It can cover costs associated with changes in your pre-existing medical conditions (if they arise while traveling). If you’re very close to your trip departure date and have prepaid for a large portion of it, having insurance may help you avoid losing money due to unforeseen circumstances. Most policies include baggage coverage and/or flight delay coverage. Some policies also offer assistance services that can help you find accommodation, transportation, etc., should something go wrong during your trip. The cons of having a policy include: You might be covered by your home insurance or credit card company already. Policies vary from one provider to another—and within each provider—so it’s important to read through all details carefully before making any purchases.

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3 Ways to Save Money on Travel Insurance

The first way to save money on travel insurance is by getting it before you leave. This will allow you time to take advantage of any early-bird discounts, which are often announced well in advance. Alternatively, if your journey falls at a peak time of year (and we’re talking anywhere from May through August here), consider booking your trip during one of these off-peak months. Doing so can save you up to 25% on travel insurance costs. Finally, be sure to check whether or not your credit card company offers complimentary coverage for certain types of trips. Most major companies do—just be sure to read all terms and conditions carefully before signing up for anything! 4 Ways You Can Still Travel Without Insurance: Although travel insurance is an excellent way to protect yourself against unforeseen events, there are plenty of ways you can still have fun while traveling without it. For example, if you plan on sticking within a single country or region while abroad, chances are good that local medical care will suffice; make sure to do some research beforehand just in case.