Is Travel Insurance Worth It?
Is travel insurance worth it? What are the pros and cons of buying travel insurance? We’re asked these questions every day. Here are some of the answers:
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Pros |
Vs. |
Cons |
| Travel insurance transfers your risk of possible financial loss to a large pool of travelers via an insurance company and their policy | You replace the possibility of a future loss for the certain loss of your travel insurance premium. | |
| Coverage for pre-existing medical conditions is available if eligibility provisions are met. | Trip cancellation, trip interruption, travel delay, and missed connection coverages are “named peril” coverage. Not everything you think should be covered is covered. | |
| Protect against the financial failure of the tour operator, cruise line or airline. | Pre-existing medical conditions are excluded from coverage unless you qualify for a “pre-existing conditions waiver”. | |
| Protection if your trip is cancelled due to a terrorism event on your itinerary. |
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| Medical evacuations coverage. This possibility might represent the highest possible loss while traveling. It is also one of the least probable to happen. | ||
| Medical benefits payments can supplement your primary medical coverage. | ||
| Help is only a phone call away. Emergency Assistance while on the trip. Most travel insurance plans have this feature which is available 24/7. | ||
| Payment for additional living expenses if your trip is delayed due to your common carrier. | ||
PEACE OF MIND |