Time to confess, I was not super excited about writing a post on buying travel insurance. In fact, I tried more than once but keep getting pulled away by other, more fun ideas. The thing is, this is an important post that needed to happen. I gave in, sat myself down with a giant cup of coffee (and later, wine) and got to it. The world of buying travel insurance can be confusing and difficult to navigate. There is lots of legal jargon and insurance industry wording to read though. I’m going to break it down into what the coverage options mean, what to look for in a policy, and how to buy one.
Travel insurance may be the least glamorous part of vacation planning, but it’s just as important as picking flights and hotels. As important as it is, it is also confusing for most of us. Think of it like car insurance. If you get in an accident, car insurance helps pay for the damages. Same thing goes with travel insurance. If something unexpected happens while you are traveling, the travel insurance provider helps financially.
As easy as it is to pretend everything will always go as planned, that is just not reality. Buying travel insurance covers us for those unfortunate mishaps that can potentially ruin a vacation. Some of the most common issues covered include:
Medical and Liability are the most important aspects of a travel insurance policy. Make sure you are fully covered in these areas when picking a policy. I would suggest a minimum coverage amount of $20,000, but $100,000 is even better.
To determine the right coverage for you, look at what a trip has (or will) cost to book and how much money would be lost if you had to cancel it. After that, think more about what you are doing and bringing. Up your coverage for lost baggage if you are carrying expensive items like tech or sporting equipment. How much would you have to spend if your luggage was lost and you had to repurchase everything?
Are you planning to do any potentially dangerous sports or excursion? Some companies offer additional coverage for risky physical activities. Carefully read through all the options and evaluate what makes the most sense for you.
First, the sooner you buy your plan, the better. Some travel insurance companies require a policy to be purchased within 10-21 days of booking a trip. Other companies will allow you to buy up until a day before, but you may not have access to all the benefits you would have had if booking early. The best option is to buy it before anything else, including flights and hotels.
Next, decide on a single trip policy or extended policy. For those of us who travel often, an annual policy can save a lot of money in the long run. You don’t need to know your exact destinations or travel dates up front either.
Finally, choose a company. Sadly, there are a lot of sketchy travel insurance companies out there. Take the time to fully research any company you are considering. Read reviews and check on any certifications they have. Find out what company underwrites their policy. The underwriter is the company that actually pays out the claims. If the underwriter is reputable, chances are the insurance company is too. After you have made your selections, fully read the entire policy before buying. I know this is boring, but this is the time to figure out exactly what is covered. Don’t find out the hard way you’re not covered for something you thought was a given.
What is the company I trust for buying travel insurance? World Nomads. Besides having affordable plans with different levels of coverage, World Nomads is said to have a superior customer service line (luckily I have yet to use it, but I’m sure I will some day!) I know most of us are on a budget and the idea of adding another cost to an already pricy vacation can seem counter intuitive. But think about it, you wouldn’t drive without car insurance right? I defiantly recommend buying travel insurance for any trip through World Nomads.
SaveSave
SaveSave
SaveSave
SaveSave
SaveSave
SaveSave
SaveSave
SaveSave
SaveSave
SaveSave
SaveSave
SaveSave
SaveSave
SaveSave
SaveSave
Travel planning shouldn't be stressful, but with life these days getting busier and busier, it…
Along a hiking trail in the middle of the forest lies a ruined stone house…
Why should someone use a travel agent in 2021? When asking that question I still…
Arizona is one of the most historic and naturally beautiful states in the United States.…
When the sun comes out, so do we. Summer means traveling to new places, soaking…
Arizona is a state renowned for its wide open, rugged, and untamed landscapes. Adventure-lovers come…
View Comments
Buying travel insurance can be such a confusing venture. Thank you so much for the great guide. I never even thought of missed connections as a reason to buy travel insurance - that is my biggest fear when traveling!
Hi Kate! I'm glad to hear this helped you. Hopefully if you ever miss a connection you have some insurance!