Anyone who has missed a connecting flight or had to cancel a trip knows that vacations do not always go as planned. But when do you really need to consider travel insurance?
Your homeowner's or renter's insurance policy probably covers your possessions, so you don't have to worry about lost luggage. The same applies to renting a car—if you are a car owner, your auto insurance most likely covers you when you rent a car. It is worth it to take the time to check these policies before you travel, however.
Arranging trips takes a good deal of time and often we don't think beyond getting flights, checking timeshare availability, and researching activities. One key reason that many people get traveler's insurance is not to protect possessions, but to protect the investment they've made in the booking of the trip itself. Travel insurance can give you peace of mind and save you money if for some reason your vacation plans change. You could need to cancel your trip, your cruise could be delayed until a later date, or the weather at your destination could prevent travel.
Travel insurance is not necessary for every trip you take. If you know that a cancellation or other interruption to a trip, especially a short one, will not set you back too much, then perhaps you don’t need it.
If you travel often or are planning a really big trip, such as your honeymoon you may want to consider getting travel insurance to cover your bases in the event of an unplanned alteration to your travel itinerary.
For people who travel often and visit timeshares around the world, it is possible to get year-round coverage. Like anything you buy in bulk or large quantities, you can save money by getting a travel insurance policy to cover the various trips you take in a year.
If your travel plans include a cruise, the cruise line will likely offer you their own travel insurance. You can take this, but it may be a good idea to shop around and see what else is out there. A company that is not connected to the cruise you are taking may provide better coverage or offer a better rate.
