The formidable financial risks associated with traveling can be minimized with travel insurance – from illness and accidents to canceled tours, missed flights, terrorism, theft, lost baggage, travel-company bankruptcies, emergency evacuations, and having your body sent home in the case of a death. What are the chances you will have to take advantage of it? That’s a hard one to answer. It comes down to how willing you are to take risks, as deciding on a travel insurance policy isn’t always easy. We’re going to try to make it simple in this article by summarizing the signs indicating you should look into travel insurance.
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Sign 1: You Have Invested in an Expensive Trip
Have you dropped a considerable amount on non-refundable travel expenses like lodging and plane tickets? You’re a candidate for travel insurance. The bottom line is that travel insurance is ideal for trips that are long, expensive, nonrefundable, and international (we will get to a few of these below). The way we see it trips with a high, nonrefundable price tag should be insured because you’ll never forgive yourself if your expensive, once-in-a-lifetime foray gets canceled and your money (and planning) go down the drain.
Sign 2: You’re Flying Internationally
In this scenario, it makes sense to consider travel insurance because you’ll be traveling to a foreign country where your regular health insurance may not fully cover you. If you frequently travel overseas, you can save money with multi-trip annual policies, as well – but confirm all details with your insurer or agent before you commit.
Sign 3: You Have a Pre-Existing Health Condition
Medical conditions can disrupt trips, and if you have a recent or chronic issue, you need travel insurance more than the average traveler. Whether it’s a minor flare-up or a serious illness, health problems can ruin your vacation and lead to financial loss.
Sign 4: You Engage in Risky Adventures
If your trip involves high-risk activities like extreme sports, mountain climbing, or scuba diving, insurance is recommended. Adventure travel insurance is a necessity for anyone who is planning a trip involving an adventure sport. From whitewater rafting to skydiving to skiing, travel insurance will protect you from the unknown that comes along with adventure sports.
Sign 5: You are Traveling Somewhere with Unpredictable Weather
Traveling during hurricane or tornado season comes with extra risks. Most travel insurance policies cover trip cancellations and delays due to hurricanes and tropical storms, but specific weather events are outlined in the policy. Consider purchasing additional coverage for better protection, and shop around to avoid common mistakes.
The insurance “menu” includes five primary “courses”: trip interruption/cancellation, baggage, flight insurance, medical, and evacuation. To address specific concerns such as political evacuation or identity theft, supplemental policies can be added. Typically, these types of insurance are sold in packages that combine multiple coverages rather than being purchased individually. For a comprehensive guide on selecting the right travel insurance plan, Ncespro provides expert insights to help you make informed decisions and protect your travels effectively.
As options are weighed, it’s important to consider the relative importance of each type of coverage to you.
Ask yourself:
- Is your primary concern a refund for lost baggage or a canceled trip?
- Are you concerned about evacuation or treatment if you fall ill during your travels?
- Is there a possibility that your family situation or job will impact future plans?
Before you invest in a policy through a reputable agency, make sure you know the answers to these questions – read the fine print or, better still, make a list of questions and call the insurer so there’s no disputing how the policy actually works.