Facts about Travel Insurance: What It Is and Who Should Get It

When you plan a trip, you might be wondering, “Should I buy travel insurance? Is it worth the cost?”

Here’s your answer: Everyone should buy travel insurance. Every day people go on trips that are affected by unfortunate events, so it’s best to always be prepared. However, some travelers—as a result of their lack of interest in or knowledge of travel insurance—don’t even realize what it is and what kind of protection it provides.

We put together this guide to get you all the facts you need.

What Is Travel Insurance?

Travel insurance is a type of insurance in which people are offered protection while traveling. Such plans include trip cancellations or interruptions due to illness, weather, or any other conflicts, such as jury duty—as well as lost luggage and medical coverage. Travelers with insurance will be reimbursed if any issues arise before or during their trip.

You’ll be thankful you have it if a family member gets sick right before a trip, and you need to cancel, or if you get injured during a physical activity at a resort.

Types of Travel Insurance

There are several types of travel insurance plans available:

• Trip Cancellation and Interruption
• Travel Medical
• Baggage Delay
• Rental Car Damage and Theft Coverage
• Emergency Medical/Dental Coverage
• Flight Delay or Cancellation
• The Cancel for Any Reason
• Travel Accident

Policies tend to vary in regards to domestic and international coverage, as well as coverage for single or multiple trips. Further, every plan doesn’t offer the same exact benefits, so it’s best to do your research to see which plan offers you the best combination of benefits for each trip you go on.

Who Should Buy Travel Insurance?

It doesn’t matter if you’re going on a business trip, a family vacation with the kids, grandkids, or just by yourself. Everyone should buy travel insurance because unforeseen events could take place.

According to the U.S. Travel Association, “One in six Americans (17%) say their travel plans have been impacted by medical conditions, natural disasters including severe weather; or mechanical or carrier-caused problems.”

However, 22% of people from this survey had travel insurance while the rest did not. The U.S. Travel Association also points out that most people are happy that they invested in travel insurance, with a satisfaction rate of 85%. Although more people are purchasing travel insurance when they go on a trip, as also reported by the U.S. Travel Association, there is still a large number of people who choose not to.

These facts about travel insurance prove that many travelers have to deal with unexpected events both before and during a trip. Why take the chance of not being prepared, especially when other people who have done the same are happy they did?

Be ensured with insurance

It’s best to purchase travel insurance from a travel insurance provider rather than a cruise line or vacation company.

However, travel insurance providers do not offer the same exact coverage plans. This is where your travel advisor comes into play. We have preferred partners in the industry that are considered the best of the best, offering incredible insurance packages to more than a million travelers every single year. Though their benefits vary from state to state, many plans overlap. Plus, they have 24/7 customer support and the Travel Smart app providing protection at your fingertips for android and iPhone.

Some benefits for travelers using the Allianz Travel Smart App include:

• Get instant access to their coverage benefits while traveling the globe
• File a claim and track its progress on the go
• Connect to 24-hour assistance in just a few clicks
• Stay a step ahead with real-time flight updates and boarding gate information
• Locate nearby, pre-screened medical facilities in an emergency
• Stay prepared with local emergency numbers at their fingertips
• Be clear when it counts with medical translations in 18 languages

Travel Insurance Is Always a Must

Travel insurance is extremely important to look into before going on a trip. Many people never consider investing in travel insurance, whether that is because they do not think it is necessary or worth the money, but compared to how much money they are spending on a trip, spending a few more dollars for extra peace-of-mind is always the way to go.