With the high incidence of delayed or cancelled flights and lost luggage of late, you’re smart to purchase travel insurance.
According to CBS News, most policies are comprehensive and include a variety of benefits for travelers, from lost luggage and travel delays to medical emergencies and more. Some plans can even provide up to 100 percent reimbursement for cancelled trips, which can be particularly beneficial for older travelers with ongoing health concerns.
The reporter acknowledged that travel insurance will add to the cost of the trip, but it’s money well spent in the event of an emergency or unexpected situation. Travel insurance is particularly important if you’re traveling internationally or have an existing health condition.
When shopping for travel insurance, here are three things to keep in mind:
- What type of coverage do you need? If your concerns are typical mishaps such as lost luggage, stolen or damaged items, travel delays or trip cancellations, then a basic plan is probably right for you. A Cancel for Any Reason policy is worth the additional cost if you want an additional level of protection — and peace of mind.
- Shop around. Travel insurance generally runs about 4-8 percent of the total trip cost, so be sure to compare prices and policies to make sure you are getting the best deal for the coverage you need. There are many websites to help you comparison shop.
- Read the reviews. You probably read a zillion hotel reviews before making your reservation, so use that same level of diligence to pick your travel insurance company. Look to see if customers are making complaints and why.