Planning for a trip always exciting! Getting time away from it all or going to visit family and friends is an activity many of us spend months planning and looking forward to. Unfortunately, sometimes our best plans do not work out. Work, sickness, weather, airline problems, and other issues can cause you to have to cancel or change your trip last minute. Some discount ticket sites report flight changes and cancellations account for over five percent of their business!!!
Travel insurance typically costs anywhere from 5%-10% of the total amount you pre-paid for your trip. For instance, if you purchase a trip that costs $5000, you could pay $250-$500 or more for travel insurance. Travel insurance protects you and your companion from unforeseen events that force you to cancel your trip. For instance, you’re protected if there is bad weather, or a member of your family becomes ill or passes away, if the travel agency that booked your trip goes out of business, if there is damage to your home, or if you need to recoup from flight delays or loss of luggage. Trip insurance can even help you get reimbursed for a nonrefundable trip.
Travel insurance can also help you if your flight is canceled by the airlines. Although some airlines will provide you with lodging and the opportunity to change your flight if it is an issue on their end, there is very little they can do if a weather-related situation causes the delay. Travel insurance can cover the cost of your hotel or the cost of booking a flight on another airline. Travel insurance also includes a myriad of other potential problems, from terrorist threats to lost passports.
Another huge benefit of having travel insurance is that it gives you peace of mind. You can book your trip and be assured that no matter what happens, you can cancel or modify your trip without paying exorbitant fees or losing your money entirely. It can be especially beneficial if you are pre-planning a vacation since so much could change or come up between the time you purchase plane tickets and hotels and actually going on the trip.
Although travel insurance is recommended in most instances, in some cases, getting travel insurance may not be beneficial. If you are booking a last-minute flight, you can be reasonably assured that you are going on the trip and will not need to use travel insurance. Also, if you booked an inexpensive flight and are staying with friends or family, the amount you may lose without protection is minimal.