Some travelers are unsure about when travel insurance is worth it, while others simply skip it altogether. However, if you are planning to travel internationally, you absolutely should purchase coverage. Even if you don’t have a serious health issue, travel insurance can cover unexpected expenses that might arise while you are away. Here are some situations when travel insurance is worth the cost:
In case you are unsure about whether you need to buy travel insurance, check the wording of the policy carefully. Some policies may have specific conditions, exclusions, and benefits that may not be covered. Read the fine print and get in touch with the company if you’re unsure about anything. You must also be aware that policies vary depending on your country of residence, so you need to make sure you read the fine print carefully.
If you are traveling within the United States, you may not need travel insurance. Most people plan domestic trips a few weeks in advance, and this will be less expensive. ValuePenguin estimates that an average trip to the U.S. costs $576 per person. If you’re traveling to an expensive country, though, the costs could easily run into tens of thousands of dollars. Therefore, if you’re traveling without travel insurance, consider purchasing coverage.
You must carefully read the fine print of your travel insurance policy. If it doesn’t cover cancellation, you may have a hard time getting a refund. You may want to consider purchasing a “cancel for any reason” policy if you don’t have a lot of money to lose. However, if you’re planning to go on an expensive cruise, you may want to purchase a CFAR policy. It is often 40% or 60% more expensive than basic travel insurance and only covers fifty percent to seventy percent of expenses. Regular policies pay out the entire cost of your trip.