Hi there!

Are you planning a trip soon and wondering whether or not you need added protection before you decide to depart?

 

That is why I’m here today.

Travel insurance covers a wide range of unplanned events and uncertainties to give you added protection against financial loss. If you don’t know about travel insurance and what it covers and doesn’t cover, then this article will be for you.

This article will explain travel insurance in detail, how it works, the advantages and drawbacks of having it, and more.

 

Without further ado, let’s jump into the article.

 

 

Travel Guard has excellent plans that I recommend checking out, here is a link to their website https://www.travelguard.com

 

 

 

 

What is Travel Insurance Anyways?

 

 

Travel Insurance is coverage designed to protect against risks and financial losses that could happen while traveling. The risks can range from minor setbacks such as missed airline connections and delayed luggage to more serious matters such as illness or injury.

 

 

What does it cover?

 

Depending on your plan, it can cover a broad array of possibilities.

Let’s go take a look;

 

Injury or Sickness

This insurance can help protect you from medical expenses abroad that your normal health insurance doesn’t cover.

Most health insurance plans don’t provide full coverage in foreign countries and some health plans provide no coverage at all, including Medicare.

This will work in addition to your everyday health insurance and can help supplement medical costs if you get sick or injured before or during your vacation.

 

Ask Yourself, do you need protection for your luggage?

 

 

This is where this insurance comes in handy.

Travel insurance can help cover expenses stemming from lost or stolen luggage. To me, this is worth the peace of mind in carrying this insurance. Without a doubt, this is useful if an airline loses your bags, as it can be very difficult to get them to pay for lost luggage.

As a matter of fact, in the United States, the Department of Transportation (DOT) requires airlines to compensate fliers up to 3,300 for lost baggage. In foreign countries, that amount caps out at 1,750. But to receive those maximum benefits, passengers must provide receipts proving the value of the lost bags and the contents inside.

FYI, some airlines will require you to file this claim within 3 weeks for them to pay the claim.

 

Last-minute Cancellations

Have you ever had something come up at the very last minute that derailed your vacation plans?

I have and it’s no bueno.

Having this type of insurance can help cover those costs that are related to last minute trip cancellations. Most resorts or cruise lines won’t give you a full refund in the event of a cancellation.

If you cancel two weeks or more before your trip, most resorts will at least charge a cancellation fee; many cruise lines will try and do the same thing. When we make the decision not to carry this kind of protection, we are rolling the dice in case something happens.

All in all, Should a catastrophic weather event occur at your destination, this policy will also keep you protected.

 

Cons of Purchasing Travel Insurance

 

Okay, so we have unpacked some of the Pros to having travel insurance, now it’s time to discuss the drawbacks.

Let’s take a look;

 

It Can Be Expensive

One drawback to having this insurance policy in place is the cost associated with it.

Often at times, this insurance goes unused, therefore, people often find it a waste of time and money. While many things are covered, some things are not covered. Always pick the plan you feel that will give you the peace of mind you are looking for.

 

Sometimes the Claim gets Rejected

There’s always a chance of the rejection of a travel insurance claim. You may have purchased a great plan for your trip, still, the claim you bring to your provider may decline your request for the claim for even the smallest mistake or technicality.

Paying a high premium month in and month out and to be declined on a claim will stink. To avoid this, you must go through the terms and conditions of your policy carefully and read the exclusions to have clear expectations of the policy you purchased.

 

Yes, there is loopholes.

All travel insurance policies come with some loopholes. Some expenses get rejected even though not excluded. For instance, if you twist your ankle while hiking, your insurer will not cover these kinds of costs.

That is because this is considered an adventurous or sports activity, and most insurers don’t provide coverage for such activities.

 

It doesn’t cover Pre-Existing Conditions

Most travel plans only provide coverage for unpredictable medical expenses during the trip, and don’t cover you for pre-existing medical problems.

And the ones that do come with a steep price.

Remember, all travel insurance plans come with specific conditions, exclusions, and benefits. Therefore, it’s absolutely crucial to take some time to read the terms and conditions of your travel insurance policy carefully.

 

 

Thoughts & Takeaways

And that wraps things up for today. Hopefully, the outlines of travel insurance and its pros and cons in this article will help you make informed decisions and enjoy your upcoming trip. Looking at the Pros and cons of travel insurance, you cannot deny the fact the advantages outweigh the drawbacks.

At the end of the day, the decision to invest in travel insurance is entirely up to you. I will always encourage you to protect yourself from the unexpected that life can throw at you. Please share your experiences in the comment section below.

 

 

-CT