Is Travel Insurance Worth Buying?

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You work hard to save for your vacations, so it’s not an unrealistic question whether or not to insure your investment, right?  Keep in mind, there are a few different types of travel insurance you can purchase and I will share my thoughts on them.

Trip Cancellation Insurance
If you have spent lots of money on a trip such as a cruise or an International trip, having trip cancellation insurance may not be a bad idea to protect you in the event of a family emergency or anything that you cannot foresee that would either cause you to miss or cut your trip short. When my father ran his travel agency it was not uncommon for people to buy this when they were going on expensive cruises.

Travel Medical Insurance
Years ago, I used to take short term mission trips and the organization required that we have travel medical coverage. Thankfully I never needed it, but if you were to get sick overseas and need to be transported back to your home country, it might not be covered by your standard health insurance. You should always check with your insurance provider to know what is and is not covered before you go to any foreign country.

RV / Caravan Insurance
Many people in the US and abroad enjoy vacations on the road. In the states, traveling by RV (recreational vehicle) or with a camper / trailer is quite popular with an estimated 7 Millions RV’s on the road.  In the UK, this is referred to as caravanning, and is even more popular with one in five UK vacationers said there last holiday was via caravan (a 2004 statistic from politics.co.uk.)  You can (and should) get insurance for your RV or get your caravan insurance (for UK folks) to make sure you don’t incur additional expenses on your trip. These plans can include coverage for replacement, unexpected expenses, content, liability and much more. Talk to a qualified agent or agency to make sure you are getting the right coverage for you.

Roadside Assistance Coverage
I would hope that everyone who simply travels by car has a basic roadside emergency plan.  AAA is by far the largest, but it’s not the only company out there. If you check with your car insurance provider, you might be surprised that you can find similar coverage for far less money. I currently have my roadside assistance through Farmer’s Insurance, who holds my car insurance.

I enjoy my vacations and the last thing I want to happen is me having to spend more money because of something unexpected.  In the end, insurance is about having peace of mind and where better to have peace of mind that at the beach or on a cruise!