I am planning a trip and am wondering if I really need travel insurance. How do I know?

Published by Chris Harvey August 1, 2008

You may want to ask yourself the following questions to help you determine if you really need travel insurance:

– What is the cost of your trip?
– How long are you going for?
– Where are you going?
– What elements of your trip would you like the insurance to cover?
– What time of year will you be traveling?

The answers to these questions will help pave the way for determining if travel insurance is a prudent option, and more specifically, what type of travel insurance you should consider. If your trip cost is a significant investment that you would like to recover in the event an illness or other covered reason prevented you from going, then you need to consider a Trip Cancellation Policy. These policies cover the loss of your trip investment for a covered reason prior to departure, as well as many other types of coverage. If you do not need trip cancellation, but need the remaining benefits such as medical, medical evacuation, travel delay and baggage loss, you may consider a policy which allows a $0 trip cost. This will eliminate the cancellation benefit but still cover you for numerous other potential losses. You may also purchase plans which cover you for emergency medical or medical evacuation only.

With the knowledge and understanding of the various types of travel insurance protection available, in addition to your personal travel details and specific coverage needs, you can successfully navigate and compare travel insurance products to get the best policy for your journey.