You insure your car, your house, your health… so should you insure your travel plans? Many clients ask whether travel insurance is worth purchasing, and the answer is a resounding YES! With all the time and money spent planning your ideal vacation, insurance is an essential trip component. We explain why below.

Protect Your Investment

Like homes and automobiles, travel plans are worth protecting. Trips can be interrupted or canceled at any moment, and if you can safeguard your investment you should. Life is unpredictable. From natural disasters, to labor strikes, to sickness or injury, events beyond your control happen; sometimes they affect your nonrefundable travel deposits and payments. These “covered reasons” vary by insurers, but with the right plan you can protect yourself from the unknown.

Additionally, there are customized upgrades you can add to an insurance plan. The most popular is a “cancel for any reason” add-on feature, which allows for compensation (usually 75 to 80 percent of the trip cost) for any reason other than a covered reason. Other common upgrades include car rental coverage and additional medical coverage that goes beyond the standard expense coverage in any given policy.

International Medical Emergencies Are Expensive

Your domestic healthcare plan is just that: a domestic plan. Medical emergencies happen abroad. Unless you have a travel insurance plan that covers health expenses, you’ll be paying out of pocket. This can get expensive very quickly. Most insurers cover financial losses due to health emergencies, medical evacuations, and other costly expenses you may face while traveling internationally. Considering your age and abilities and finding a comprehensive policy is paramount.

Minor Travel Hiccups Can Have Major (And Costly) Consequences

It only takes a missed connection, a delayed or canceled flight, or lost baggage to start your vacation on a bad note. A travel hiccup can seem small yet become a major (and high-priced) disruption. Luckily, many comprehensive travel insurance plans cover incidents of this nature with “travel delay benefits.” Moreover, these benefits will typically cover additional expenses incurred outside the airport, like a hotel if your flight is canceled until the next day, and dinner at said hotel.

Uncle Sam Says So

Knowing your local US Embassy information is imperative when traveling abroad. Staff there can help with replacing a stolen passport, contacting the police, or providing legal assistance; however, they can’t foot your medical bills should you break your leg. Likewise, they can’t pay up should the airline lose your luggage containing a week’s worth of clothes. Unfortunately, you’re bound to face problems of one sort or another when traveling. Fortunately, you can purchase travel insurance to protect yourself against most unwanted costs you may incur.

Travel Insurance Is Becoming More Affordable

The main reason clients don’t buy travel insurance is simple: cost. Another reason? The negative connotation! You spent a substantial amount on your ideal vacation. Why would you want to spend more insuring it if things go awry?

With plenty of insurers and policy options, it’s becoming easier to find a plan that’s both robust and affordable. If you cnage your mind, most plans are refundable within 10 to 15 days of puchase date. No matter the destination or duration, there’s a plan to fit your budget and needs.

The Bottom Line

Travel insurance, like any other type of insurance, can be complicated. There are many factors to consider when selecting the insurer and plan that’s right for you. Fortunately, we’re here to simplify the process!

Contact us or make an appointment with one of our Houston travel agents.

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