Is Travel Insurance Worth It?

Travel Insurance is not a fun topic we want to think about when planning our vacation. Dreaming of that perfect vacation in the Caribbean, or Alaska, planning your trip to finding cheap and affordable destinations and even travel essentials can be a lot for us.

I am a budget traveler and by the time I make it to travel insurance after planning the perfect trip, I have to be honest, I skip out every time. Unlike your flight to get to your destination, or luggage to carry everything, travel insurance just doesn't seem like something we would need.

And since we are on a budget, many of us skip out on buying travel insurance. Sure, you are most likely not going to need it, and, in most cases, it is something you will buy and store in your phone and never look at it again, but is that smart?

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Is Travel Insurance Worth it?

In this post, I will share with you some top questions about travel insurance so you can decide if it's worth it to you and to help you make an informed decision.

What is Travel Insurance?

Travel insurance will cover you in the event of financial losses or illness.

• Lost or delayed baggage

• Cancellations of flight or cruise

• Medical Emergencies in another country and on your cruise

• Accidental death and dismemberment

I know none of those things are something we want to think about, but travel insurance can help to protect you well in case something was to happen. Most travel insurance companies are available 24/7 to file a claim if something were to happen.

Do I need travel Insurance for my cruise?

While it is not required it is highly recommended. Typically, your own medical insurance will not cover you when you are on a cruise as cruise ships are usually out of network for most medical plans. Domestic cruise ships typically will not cover you especially if you need emergency medical care as most health insurance companies don't cover travelers on a cruise since they are in open waters.

Check here for cruise insurance quotes.

What if I am cruising to Alaska?

The same goes for Alaskan cruises, while some people opt out of travel insurance on these types of cruises simply because their health insurance will still cover them in Alaska since it is still part of the United States. However, if you get ill in open waters on the cruise and need to be airlifted to Juneau for emergency care, your health insurance will not cover you until Juneau and it will not the flight there.

While I have never personally had experience with being airlifted (and pray myself and you never do) this can be very costly. On my Greenland cruise we had two people airlifted to a local hospital while we were out at sea, and I did ask an emergency medical technician how much something like this would cost and they replied with thousands. You are looking at anywhere from $15,000 to even $225,000 just to be airlifted. This all depends on where you are cruising to and how far away from land you are at that moment.

Would you want to pay something like this? Sadly, this cost alone is enough to bankrupt many people, and the cost of travel insurance could have helped to compensate for this astronomical price. I pray these people airlifted on my cruise had travel insurance.

Where Should I Buy Travel Insurance?

You should always shop around and get travel insurance quotes from different companies, travel agent, private insurance companies, airline or cruise line agents, or even insurance brokers.

TravelInsurance.com allows you to research and compare your options so you can get the most cost-effective insurance coverage for you.

How Does Travel Insurance Work?

Every insurance policy is different, and you will want to review your policy to know what it covers. For instance, if your luggage was lost some travel insurance policies may only reimburse you $500 even if your luggage is worth more. Another example would be medical coverage. You can choose the amount you want to be covered if you were to need medical coverage in a foreign country. If you chose a $15,000 coverage plan and your hospital visit was more than that, you will need to pay the overage. You also want to remember you will need to support any claims made with receipts and any evidence of your expenses.

How Much Does Travel Insurance Cost?

Prices will vary and it all depends on age, destination and where you live, so really there is no one set price. That is why it is really important to price compare before you buy your travel insurance. However, travel insurance can cost a range of 3% to 14% of your total trip's value. If you are over 60 you can expect to pay around $125 for a basic travel insurance plan.

What is the Age Limit for Travel Insurance for Older Travelers?

Unfortunately, a lot of travel insurance companies have a cap on age limits which is usually around 65-69 for most, but you can find some travel insurance companies offering insurance for those 70-75. My dad is over the 75-year mark and to be on the safe side he only travels in the U.S now. If you found anything for over 75, please let me know I would love to hear.

Here's a quick overview:

• Travel Insurance can help you with lost luggage, trip cancellations and medical expenses

• Cruise Travel Insurance is recommended as your health insurance will not cover you at sea

• Price compare your travel insurance to get the best rate

• Travel Insurance coverage and cost can vary by person, destination and where you live

Travel insurance is something I now make sure is on my travel pre-checklist, and I believe it should be on everyone's. It is the peace of mind you are paying for, but if something were to happen you will be so thankful you have it. While some policy options can be on the more expensive end, there are plenty of affordable options out there for you, so be sure to do your research and compare prices before you buy.

Happy Traveling!