Travel insurance may be a good idea, but, depending on the vacation, it might be required. For example, some countries may require an amount of medical coverage in order to obtain a visa. Similarly, some cruises and tours will not allow vacationers without medical evacuation coverage. In some cases, a travel provider will require a waiver be signed that states the traveler was offered insurance and declined the coverage.
When travel insurance is not required, or even offered, travelers should consider the risks involved with the trip to determine if a policy is right for them. A short drive to a family member’s house within the U.S. might not warrant an elaborate travel insurance policy. However, if that person is out of network for their normal health insurance, or if they don’t have any health insurance, then travel insurance would be more valuable. Someone that used reward points to book flights might not have an elaborate trip cost to insure, but they could still experience a travel delay or baggage delay which would result in out of pocket expenses.
Overall, weigh the options carefully. Like any insurance, if someone is comfortable with certain risk, then having a policy isn’t of much value to them. For those who prefer peace of mind over calculated risk, compare travel insurance policies to find the right coverage at the right price.