Should I Purchase Travel Insurance Travel Tips

This is​ one of​ those age-old questions with no definitive answer. It’s estimated that 30 percent of​ Americans purchase travel insurance,​ which is​ a​ drastic increase since 9/11,​ when less than 10 percent of​ travelers were insured.

If you’re flying on​ a​ $150 ticket to​ see Aunt Irma in​ Wisconsin,​ you​ probably don’t need travel insurance. But on​ a​ trip such as​ yours,​ travel insurance can come in​ handy if​ something unexpectedly disrupts your trip. Your first step is​ to​ compare the​ cost of​ the​ trip versus the​ cost of​ the​ policy.

The most common situations when travel insurance comes in​ handy are:

• Your flight is​ canceled
• Your passport and wallet are stolen
• You require medical treatment while abroad
• You need to​ cancel your trip due to​ illness
• An unexpected hurricane hits your destination
• Your airline/cruise line/tour company go bankrupt

Reasons NOT to​ purchase travel insurance are:

• You’re afraid of​ terrorism
• A hurricane is​ going to​ hit your destination (this applies if​ the​ storm has already been named by the​ National Weather Service)
• Your pet is​ ill
• Your flight is​ delayed for so long that you​ want to​ cancel

One major caveat: Never purchase travel insurance from the​ same tour operator or​ cruise line with which you’re traveling. if​ that company goes out of​ business,​ there may not be money to​ cover your claim. Use a​ third-party provider (that includes travel agents).

Also,​ don’t forget about medical insurance. Even if​ you​ are covered for basic emergency care overseas,​ in​ almost all cases,​ your current health insurance does NOT cover you​ to​ evacuate you​ and fly you​ back to​ the​ U.S. Something called “Medical Evacuation and Repatriation” insurance comes in​ handy here. you​ pay a​ yearly fee,​ and if​ you​ get sick or​ injured overseas,​ the​ policy will get you​ treated,​ stabilized and flown back to​ the​ U.S. to​ the​ hospital of​ your choice,​ not theirs. There are a​ number of​ good companies that provide this type of​ plan,​ such as​ MedJet Assist.

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