Do I Need Travel Insurance?

Nov 05, 2022 Avatar Dan Ilves Dan Ilves

There’s much that’s been written about travel insurance, and we get it: why spend more money on your vacation for something you don’t think you’ll need?  One answer to that question is: Do you prefer to have car insurance to protect you in the case of an accident?

There’s probably a lot of drivers that wouldn’t buy car insurance if it wasn’t mandatory; but I think most of us realize there’s value in having the coverage, even if we don’t enjoy paying the premiums.

Travel insurance protects you from unexpected financial losses that can (and do occur) on a vacation. Perhaps more importantly it can provide medical coverage and evacuation coverage should you need to be airlifted to a proper hospital that can treat you. (That can cost tens of thousands of dollars.) The additional benefits of travel insurance can also provide reimbursement for travel delays,, lost luggage, stolen items and more.

While the benefits of travel insurance may not be as important for a short trip that’s not far from home, for international travel it’s all the more relevant. That’s because international vacations cost much more these days, and there’s far more financial risk to you not having this coverage. Travel insurance provides peace of mind and can save you a lot of money if there’s a covered problem that occurs.

When it comes to medical coverage, your health insurance at home may not provide coverage when traveling overseas, or may be limited to a certain provider who doesn’t have facilities where you are traveling. Medical bills can be huge. Check if your current health care covers emergencies while you are traveling.

Noted travel authority Peter Greenberg also notes: “You absolutely need to have medical evacuation insurance. If you get sick or injured outside of the U.S., it pays for you to be stabilized medically wherever you are, and to get you home to a medical facility and doctor of your choice.”

An important consideration when purchasing travel insurance is whether medical coverage is primary or secondary.  With the former, the insurance company will pay out your covered expenses so you don’t have to; in the latter you would have to pay your bills first, and then file a claim for reimbursement. Most of the policies we offer provide primary coverage, but it’s good to check.

In some countries, especially since the pandemic, proof of travel insurance is required.

Your TravelStore advisor can assist you with arranging travel insurance coverage.