Whether you’re a frequent traveler or not, undoubtedly, you’ve asked yourself “Should I buy travel insurance?” in at least one of your trips. Traveling is expensive. The last thing you want to happen is to not have a backup plan in case things go south. Several unforeseen circumstances can take place during one of your travels, so having a safety net will be beneficial to you and your family.
Should I Buy a Travel Insurance? Do I Need One?
How Travel Insurance Works
Also known as a vacation or holiday insurance, travel insurance serves as your protection in case unforeseen events like bad weather or a tragedy happens during your trip. You need to give details like travel dates (with departure and arrival dates), your date of birth, and the trip cost to the insurance company if you’re getting one.
You also have to choose your beneficiary. It is limited to family, which means you must select someone related to you by blood or by marriage. Only the recipient will be able to make insurance claims if something goes wrong in one of your travels.
Why Travel Insurance is Important
— Becky (@AdventuringBec) October 2, 2017
Imagine going out on a trip with family or friends, and an emergency takes place which forces you to leave earlier than expected. Aside from the financial disaster, you also want your valuables covered in case one of your luggage go missing. Purchasing a travel insurance will give you and your family the peace of mind of having everything accounted for.
Here are more instances where travel insurance should take effect:
- Trip cancellation due to business obligations
- Trip cancellation due to terrorism
- Travel delay due to hijacking
- Travel delay due to quarantine
- Delay due to unannounced strikes
When to Get Travel Insurance
You can get this policy before or even after you booked a flight. Trip cancellation insurance takes effect the day after you acquire the policy. You can also get a 100% refund if you have a valid travel emergency. Get a quote using this comparison site.
Where to Get Travel Insurance
Hand Picked Top 8 Travel Insurance Companies in US https://t.co/AZXfg9a2dJ
— Gaurav Verma (@imgauravkv) October 8, 2017
There are plenty of insurance companies that can provide this type of policy and here are the top-ranked travel insurance providers in the market right now. Each has been given an A+ rating by the Insurer’s Better Business Bureau and has been in the business for more than two decades:
- Allianz Travel Insurance
- Generali Global Assistance
- MH Ross Travel Insurance Services
- Travel Insured International
- Travelex Insurance Services
- TravelSafe Insurance
- Where to Get Travel Insurance
Can I Buy Travel Insurance After Booking
Absolutely! In fact, you can get a travel insurance A DAY before your scheduled trip! You may want to do this and inform the insurance company with every detail of your flight. Remember, disclosing information is everything in the insurance world and if you’re transparent from the get-go, claiming will be a lot easier.
Moreover, acquiring a travel insurance doesn’t take effect immediately so giving the insurance company some leeway is advantageous to both sides.
Are you looking for more travel insurance tips? Check out this video courtesy of vagabrothers:
With all the perks involved, purchasing a travel insurance might be a no-brainer. You get to enjoy your trip while having assurance you will get the rightful compensation should something go wrong. Yes, some may find this as an extra expense, but that depends on your perception of insurance, so travel at your own risk! Should you buy a travel insurance? Now, you know the best answer to that.
What are your thoughts on travel insurance? Sound off in the comments below!