Travel Insurance Tips: 7 Things to Know Before You Buy

Should you insure your next trip? Do you really need travel insurance? These are questions I’ve been getting more often due to the recent pandemic and I will take some time in this video to answer those questions about travel insurance. The reason to buy travel insurance can be simply put: Travel Insurance minimizes the financial risks associated with travel.

Does it make sense for you?
For some people it makes financial sense. Others it doesn’t.
How willing are you to take risks? How much if peace of mind worth for you?
If your potential loss is a few hundred dollars in airfare, travel insurance is probably not worth the cost or aggravation. On the other hand, a once-in-a-lifetime $20,000 vacation is worth protecting.

Types of Travel Insurance:
Trip cancellation: Refund if you cancel due to a covered reason. CORONAVIRUS TYPICALLY ISN’T ONE.
Trip interruption: Refund for the rest of your trip if you have to return home
Trip delay: Refund for expenses due to a delay. Usually has to be 6 to 12 hours.
Medical: Emergency medical expenses on the trip. Optional: Medical Transport
Death/Dismemberment:
Baggage: Lost, Stolen, Damaged, Delay
Rental Car
Change Fees
=== Less common types:
Political evacuation: Transport to the nearest safe place
Comprehensive insurance" covers all of the above (plus expenses incurred if your trip is delayed, if you miss your flight, or if your tour company changes your itinerary).
Reimbursement only -- you pay first… then submit some paperwork to get your money back.
Travel alot? Look in to Annual policies

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[richardmercer]

Short answer: Yes for cruise, No for domestic, Maybe for foreign

[Chloe]

First! From the Isle of Man! Can't wait to go back to Vegas with my partner especially with all the informative videos that I completely missed when I was there in February!

[scottman]

Thank you for the video! If I travel domestically, I usually do not buy travel insurance because everything I reserve is either refundable (hotels, rental cars, etc.) or is not too expensive (domestic airfare). Also, my health insurance will for sure cover me domestically. As for international travel, I have been buying travel insurance, but I should check my benefits with my credit cards and health insurance as you suggested to make sure I'm not paying for coverage which I may already have and not know about it.

[garyp]

Great video and thank you for posting. I'm traveling domestically next month with one layover. I purchased travel insurance just to be on the safe side my flight gets cancelled or delayed and I have to sleep in a hotel instead of the airport. It was decently priced for my ticket ($50). However, I heard it's difficult to get reimbursed if you have a claim. They look for any avenue to get out of paying. I hope not. Actually, I hope I don't get stranded and have to use it.

[ryaner]

Like any insurance agency, they are happy to take your money but will find ways to keep it if you need it back. I found out the hard way.

[lachelleduncan]

Thank you for verifying the info I have about travel insurance. As usual- you rock.

[JSTONE]

Always read the fine print and if you are not sure exactly what it means do some research about it, never just assume anything.

[marsdwarf]

The first video I watched on the topic, and the last I'll need. Thanks so much for the information!

[robertikeno]

We had a trip planned for this past April to the UK. We booked airfare on our own on virgin atlantic (they cancelled the flight to civic and gave us to next April to use the ticket) the tour company also cancelled and also gave us a year to rebook. Any advice here or just sit tight?

[johnbailey]

Excellent video, Chris. I never considered travel insurance, until I retired and went on Medicare, which does not provide coverage outside of US. I have gone to Japan twice since and purchased the insurance for peace of mind on the medical.

[BagsByCABYarnTravels]

Thanks Chris! I really enjoyed the detailed information. CAB :)

[finned]

Pandemics are not covered by travel insurance. Thus, it makes sense to get “cancel for no reason” policy. I had to cancel my Japan trip and it was a nightmare. I couldn’t cancel my trip for months since the airlines are besieged. The hotel in Japan needed proof of airline cancellation so my travel agent had to get them on the phone twice. I purchased from Allianz and was very happy to know since all my airfare and hotel were fully refunded, my policy can be refunded in full since I didn’t make a claim. I would advise to get the most comprehensive policy you can afford including “cancel for no reason” in the post pandemic world. That means don’t travel until the pandemic is completely over.

[clairedobson]

Thanks Chris. Really useful information

[elvafong]

Thank you for your informative video. I recently went on an Antartica cruise and the trip was interrupted or delayed because of weather conditions (we had to wait until a storm passed before our charter flight would fly and had a 1 day delay and then we had to return half a day early in order to avoid a storm. I thought our credit card's trip interruption policy would cover it and filed a claim. My claim was denied because the trip interruption was due to "weather" and weather was not one of the allowed reasons they covered. Does the Chase Saphire card you mentioned cover this? Or what do you recommend - we are wanting to do a North Pole expedition cruise.and thinking of travel insurance.

[longlimboy]

Excellent video packed with info. Thank you

[MrGuitars]

Having to get some soon . Great Video.

[NuYawk]

This info is so important (especially these days) and Chris spells out all the details here. These past few months I've had to change/cancel so much stuff my head is spinning. Truth be told, I think airlines, hotels, cruise lines and amusement parks are very quick to offer credits right now. If you're vocal enough, I think most will refund if they can't deliver on what was promised. I have tons of credits and will start to inquire about refunds. I agree with Chris, insurance for national travel is really not necessary. Someday when I'm ready to book that 'Around the World' trip, perhaps. Also, the credit card Chris shows here looks really good, I'm applying tomorrow. Thanks once again for some crazy important travel information here Chris. You are without a doubt, the 'go to' person with regards to travel here on You Tube!

[frumentiusricardo]

So it looks like priceline travel insurance says “Minimum amount of Trip Cancellation and Trip Interruption coverage is $300.” But airline tickets were only $117 each. So will they cover if we have to cancel our trip? Also what are acceptable reasons to cancel?

[devang]

Do I need to buy travel insurance after international flight booking? If yes which agency good and cheap for safety?

[mdmekhnafuddin]

It's very useful video.thaks for good information.