Is Travel Insurance Really Worth The Cost?

Are you someone who loves to travel?  Nothing compares to the feeling of being young and able to travel to any number of exotic destinations.  Most of us try to save as much money as we can for a vacation, but college students in particular keep a close eye on discounted travel fare.  While planning for a low-priced flight plan, you may put travel insurance in the back of your mind dismissing the coverage as unnecessary and not worth the cost.

However, without proper travel insurance, you are liable for any damages to your luggage or injuries you acquire while out of the country.  It’s one of the risks of travel, of relying on another country – sometimes the unpredictable can occur, and you’re left with an expensive bill if you don’t plan ahead.  While acquiring travel insurance may seem like a hassle, there are now websites such as LowestRates.ca that helps you find affordable travel insurance quotes, and reduce the amount of time you spend looking for coverage.

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With spring break only weeks away for most post secondary institutions, this is a particularly important time of year for students to acquire travel insurance.  The higher-than-normal number of travelers means it is more likely airlines could lose your luggage, or have an increased number of flights faced with frustrating delays.  If you acquire travel insurance before leaving for your trip, these types of inconveniences are redeemable.  By going online to a one-stop shop such as LowestRates.ca, you can find travel insurance coverage that is suitable for your unique trip.

One of the most basic options is the single trip insurance plan, which covers you for emergency medical care on one trip.  If you are only planning one spring break getaway this year, you will likely be attracted to this plan because it is the more affordable option.  However, if you plan to take multiple trips over the course of the year, you would likely prefer what is known as the annual travel insurance plan.  This option provides medical coverage for any number of trips you may take over the course of a one year period, and is popular for students who frequently travel.

You may feel confident that you won’t succumb to illness or injury while away and avoid a medical travel insurance plan.  However, the unpredictable nature of flights means they could be cancelled at any given time, and it would benefit you to have trip cancellation or interruption insurance.  This plan compensates you if you choose to cancel your flight for valid reasons, and will usually pay for your expenses if you are stranded at an airport for a flight that has been delayed or cancelled by the airline.

However, if you like to take all necessary precautions, the all inclusive travel insurance policy is the right plan for you.  This is a comprehensive insurance package that provides coverage for medical emergencies, flight delays and cancellations – as well as luggage that is lost or damaged at the airports.  Since this type of insurance provides the most extensive coverage, it is naturally more expensive than the other plans.  But if you’re a cautious person who likes total security, it’s worth the extra expense for complete coverage.

These types of airline inconveniences can ruin your ability to enjoy your trip, which a column at Moneyville.ca discusses in detail.  The woman whose luggage was lost was without travel insurance, and while her cruise line offered her $500 to replace some of the lost items, it was difficult to find things that she needed.  As a result, she and her husband missed many of the formal nights they had planned to enjoy on the ship.

Like with any kind of insurance, travel insurance is something you don’t really consider until you need it.  But by taking a few minutes online to plan ahead, you are protected in case the worst occurs.

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I have bought travel insurance, but question whether I need it. I even filed a couple claims and received reimbursement. I find they are very specific and restrictive in terms of claims.

I am going to London in a few months, and this was the first trip I ever seriously considered purchasing travel insurance. Then I looked at my credit card’s policy, and I saw that if a serious illness (either my own or an immediate family member’s) prevented me from traveling, my credit card would get me a full refund for my airfare! At that point, travel insurance become unnecessary.

It is the item that I usually skip during online airline ticket purchases. I observed that it is automatically charged when buying tickets from a travel agency. For me it’s not really necessary because it is effective only for a single travel instance.

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