To Buy or Not To Buy Travel Insurance
Travel insurance is not a new invention, but it is getting more play in mainstream media. There have been a lot of discussions on whether travel insurance is a good idea. To be most effective in this discussion we should look at a few examples, as well as explain what travel insurance is.
Travel insurance protects you in the event your flight is cancelled or delayed. It can cover your hotel room costs, lost luggage, and depending on the travel insurance it can cover medical expenses. With these benefits it seems like a no “brainer” to have travel insurance, but the cost often makes us hesitate. Let’s look at a couple of examples regarding travel insurance.
Example 1: You bought travel insurance and you missed your cruise due to inclement weather in the Pacific Northwest where you live. Luckily the travel insurance will cover the money you spent on the cruise, so you can plan another vacation and take it.
Example 2: You decided against travel insurance for your trip to the Florida Keys. A hurricane came up stopping all travel into the keys, as well as the Miami airport where your plane was to land. You have a limited time off work for the trip meaning you cannot rebook your flight and hotel for a few days after your original trip. You also didn’t get travel insurance, so now you have no money reimbursement for the airline or hotel that you had to prepay. You are not able to pay the credit card bill off and furthermore, you would have to pay again to go on vacation. So you decide to take out a payday loan to re- plan your vacation for the next time you have time off of work.
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Categories: Travel Insurance Tags: Bad Idea, Brainer, Extra Money, Few Days, Florida Keys, Hotel Room, Hurricane, Inclement Weather, Insurance Travel, Limited Time, Luggage, Mainstream Media, Medical Expenses, Miami Airport, New Invention, Pacific Northwest, Payday Loan, Time Off, Travel Insurance, Vacation Deal
