|What is the best travel insurance? Learn from the best at Flo Yo Travel & Retreats.|
Being a Travel Wizard is my superpower. But all magic has its limits. Travel insurance is your peace of mind.
At least once a week I get a question about travel insurance and the questions always end with “is it worth it”?
I also get calls – from sad travelers (not clients–yet!) saying “But I had the insurance”.
Here’s a Travel Wizard Truth: Not all travel protection policies are equal. That little box to click when you buy your flight may seem perfect, but it is often a cheaper policy with limited approved conditions. This means your airline ticket refund policy is severely limited.
Your credit card has travel protection? Maybe! Benefits are often limited and only apply if the trip is booked with that specific card. It’s important to read the fine print and learn what is and isn’t covered and how quickly the credit card company will provide you with a reimbursement.
The refund benefit is different per policy, so read that fine print. It may be for a future travel credit, a certain percentage of the trip value or 100% coverage. NEVER assume it is 100% cash back.Even with insurance you can’t cancel just because you changed your mind. Even some medical reasons or care for children/elderly parents are not covered. Travel insurance has strict conditions in which you can cancel to receive a refund.There are a few “cancel for any reason” policies. These are issued by special carriers. Some “cancel for any reason” travel insurance policies will refund your money (or most of it) by giving you actual cash back or others will issue a credit for future travel. As you can imagine, these are more expensive policies than the policies that only refund under strict conditions.
If you travel more than a few times a year, check out ANNUAL TRAVEL PROTECTION. It is most cost effective to buy one policy that covers any travels you take within a 12 month period. You can still add upgraded coverage on some trips as needed. For example, cancel for any reason for that large European adventure can be added but you’ll need the base coverage for all other domestic trips.
Check your health insurance plan to see where they will provide sufficient coverage in the event of illness or injury. Getting the right travel insurance coverage can close that gap – but again, requires due diligence.
BOTTOM LINE: Is travel insurance worth it? YES – but only if you know what you are buying!
|Life is hard, Travel can be easy,|
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