Traveling is fun until something happens when you’re miles away from home, and you find yourself between a rock and a hard place. That one trip you were so thrilled to go to could end up being a frustration galore. In such a situation, who do you turn to? Who will cover your losses?
It could be a case of lost baggage, a medical emergency, or an expected delay. No matter the reason, nothing prepares you for what’s ahead better than travel insurance.
In fact, you don’t need to travel to realize how beneficial this type of insurance can be; it could even come in handy when you need to cancel your trip due to unavoidable circumstances.
So, what exactly does travel insurance cover? The exact scope of coverage will depend on the specifics of that particular policy.
Here are six reasons that will change your perception of travel insurance.
1) You’ll Never Have to Worry About Medical Emergencies. Medical emergencies can happen without warning. And while traveling, these emergencies can be costly. Some travel insurance plans cover emergency medical expenses, giving you and your loved ones peace of mind throughout the trip. As mentioned, the scope of coverage will depend on what the policy entails. But, in most cases, it may include hospitalization, doctor’s fees, medications, and other related expenses.
2) Protects You From Cancellations or Interruptions. Sometimes we plan trips but don’t actually get to travel as intended. That’s part of life. What shouldn’t be part of life is being unable to recover the money you spent on making those big plans ahead of the trip. Unforeseen circumstances such as illness or natural disasters can force you to cancel your trip, but travel insurance compensates you for the cost of the trip. This compensation can either be in part or full.
3) Covers You In Case of Lost or Stolen Luggage. Losing luggage while traveling isn’t an uncommon scenario. Just to give you some perspective, one study found that in 2021 alone, US-based airlines mishandled more than 1.9 million bags. For this reason, many travelers suffer from lostophobia, a genuine fear of losing their luggage at airports, train stations, bus parks, etc. You’ll likely have a double dose of fear and anxiety if you lose luggage containing expensive items such as cameras, laptops, jewelry, and other valuables. But worry not; having the right travel insurance will cover the cost of lost or stolen luggage.
4) Keeps You Covered During Travel Delays. Travel delays can occur due to unavoidable reasons. For most people, that alone will ruin their trip. Unless you must arrive at your destination at a specific time, you won’t have much to worry about when your trip is delayed. Travel insurance can cover additional expenses incurred due to the delay, such as lodging and meals.
5) Swings Into Action During Emergency Evacuation. Think of a situation where evacuation is the only way to save you during a medical emergency, natural disaster, or political unrest. How do you deal with such a scenario, especially in an unfamiliar environment? Again, your travel insurance may cover the cost of emergency evacuation and transportation.
6) Got Into An Accident? No Problem. Let’s face it – accidents can happen while traveling. Naturally, that’s the last thing you want to deal with on your trip. It’s even worse if the accident occurs during your trip abroad. Thinking of taking an ATV trip deep into the woods while on vacation? Well, you’ll need some form of insurance to do that. Normally, you would use your auto insurance carrier to cover such an accident. While they might agree to cover it to some extent, there is no guarantee. Unless you’re willing to pay the damages out of pocket (which can be expensive), you may be held liable for damages.
That’s where your travel insurance comes to the rescue to provide liability coverage, protecting you from the financial obligations of such accidents. And the best part is that the insurance provider cannot just refuse to settle your claim without a valid reason. If they do so, you can hire a Los Angeles lawyer to fight for your rights.
The Bottom Line
Gone are the days when travel insurance was a luxury only a certain few could afford. Nowadays, it’s a necessity you cannot afford to board any vessel without. When you look at the bigger picture, it saves you the money you would have spent compensating others out of pocket, replacing your lost or stolen items, or even making new travel plans after the previous one failed due to circumstances beyond your control.
Photo Credit: David Hilowitz
When I tripped and fell on my face in Vancouver Canada in 2018, I was very glad I had travel insurance. It covered everything — the cruise I didn’t get to take, the emergency flight to get home to Texas, my jaw surgery bill and numerous other reimbursements. Two important points to note: it took 9 months to get some reimbursements, and it is third-party insurance. Meaning: it didn’t pay medical expenses until after Medicare and supplemental.