Array
You don’t need travel insurance to protect some vacation expenses, like flight cancellations.
Travel insurance, however, can cover a lot more than what you invested in your trip, particularly for medical emergencies.
If you opt for travel insurance, it’s crucial to read the fine print to see what’s actually covered.
With the unofficial start of summer and after more than two years of pandemic uncertainty, travelers are ready to get away – regardless of high prices.
Americans are expected to spend, on average, $2,644 on summer vacations, 30% more than in 2019, according to the latest Vacation Confidence Index from insurance providers Allianz Partners USA.
However with COVID-19 cases on the rise again, Hurricane Agatha hitting Mexico and the Atlantic hurricane season starting June 1, those long-awaited vacation plans could still change.
Fifty percent of U.S. adults have had to cancel a trip because of COVID-19, according to a Forbes Advisor survey in April, and more than 80% of those who canceled lost money.
„If you’re booking a trip and you’re not worried about losing all that money in case of an accident or illness or hurricane that interrupts the trip … then OK, but I think most people are not that lucky,“ said Jeremy Murchland, president of Seven Corners insurance company.
Travel insurance can help protect sunk vacation costs, but it’s most helpful when trips go awry.
WHEN TO BOOK: The best times to score flights, cruises, hotel rooms, rental cars and campsites
TRAVEL ETIQUETTE: Is it OK to ask another passenger’s vaccine status or request they mask up?Is it worth it to pay for travel insurance?
It depends.
For relatively common things like flight disruptions, domestic travelers already have some protections through the Department of Transportation, which requires airlines to offer refunds when flights are canceled or significantly delayed. Credit companies will go to bat for customers, too.
„Your credit card is phenomenal … for disputing any type of transaction,“ said independent personal finance expert Matt Granite, known as The Deal Guy on YouTube.
Hotels and vacation rental companies may make exceptions or rebook stays for guests in extenuating circumstances, even when stated policies say no refunds for last-minute cancellations.
Theme parks generally won’t refund tickets, but will work often with guests dealing with emergencies and COVID-19.
Many cruise lines, like Carnival and Norwegian, will offer future cruise credit for guests who contract COVID-19 within days of their sailing, but they may not be as flexible if guests cancel for other reasons.
Travel insurance can help customers who want refunds rather than rescheduling and other benefits, but it’s most crucial for travelers who get sick or hurt abroad.
„If you break an ankle or, God forbid, I was just reviewing a case the other day, somebody overseas, they were riding one of those scooters and got hit while they were riding the scooter and (had a) traumatic brain injury.
