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If you’re traveling for the holidays this year, you may be asked if you’d like to pay extra for travel insurance. When we travel by car, insurance is mandatory, so travel insurance is a must, right? Travel insurance is optional and it depends on how much you want to spend and what you need while traveling. Many travelers, who take domestic flights or cruises, opt out on traveler’s insurance, but it may be a smart choice if you’re traveling abroad.

Shop Around


When planning a trip and considering travel insurance, it’s always a good idea to shop around first and have all of your questions answered. If you’re strongly considering paying extra for insurance, don’t say yes until you have all the information you need. Experts recommend checking out travel insurance on a number of online travel insurance agencies. Like other online insurance agencies, you can get price and benefit comparisons. If you still aren’t sure, ask friends and family. Did they have insurance or regret not having it while traveling?

The Cost of Travel Insurance


Generally, the cost of travel insurance is about 5-10% of your prepaid non-refundable costs. Depending on how much a cruise or flight ticket costs, your travel insurance could be more than a couple hundred dollars and with many insurance plans, the more you want covered the more it will cost.  

The Benefits of Travel Insurance


While many travelers find travel insurance to be an expensive and unnecessary expenditure, there are times when you may be glad that you added it to your trip.


  • Trip Cancellation: Sadly, the cancellation of a trip is a reality for many travelers. When a trip gets cancelled you can be out a big chunk of money as many reservations require a non-refundable deposit. With Trip Cancellation Insurance (TCI) you are reimbursed for deposits or penalties that you wouldn’t otherwise be reimbursed for (such as the non-refundable deposits).


  • Unexpected Health Problems: Every traveler hopes for a vacation free from complication, but unfortunately, sickness and injury can strike wherever you are (even on an amazing getaway). While your health insurance may cover any medical issues that come up while traveling throughout the U.S. (if you’re a resident), but some medical plans don’t cover medical needs outside of the United States. Experts suggest that travelers invest in Travel Medical Insurance (TMI) and/or Medical Evacuation (ME). TMI pays up front for any medical costs (which will keep medical bills low) and ME pays for emergency transport home. Let’s say you’re hiking in a remote area and break your ankle, ME will cover any costs that will help get you home quickly and safely.

A Peace of Mind


Travel is fun and exciting for a majority of  individuals, but for some, traveling can cause major anxiety and worry. If you are planning a trip, but are worried about getting sick, losing valuables, or even dying, travel insurance will help you enjoy your travels without too much worry.


Staff (65 Posts)