Biggest Travel Insurance Mistakes To Avoid
As the summer travel season quickly approaches, many of us are looking for ways to make our adventures more affordable. With travel costs continuing their upward trend, it's easy to overlook crucial protections like travel insurance in an effort to save a few dollars. However, even the most experienced travelers can stumble when it comes to securing the right coverage. We've compiled a list of the top travel insurance missteps to steer clear of as you plan your getaways.
Don't Wait Until It's Too Late to Insure Your Trip
Travel insurance is designed to protect you from unexpected events that could derail your plans. Once an issue arises, it's too late to secure coverage. Purchasing insurance early maximizes your coverage window and unlocks time-sensitive benefits that offer greater flexibility. Delaying your purchase could mean missing out on vital protections such as "Cancel For Any Reason" (CFAR) coverage, pre-existing medical condition coverage, or even protection related to named storms during hurricane season.
Our Advice: We recommend purchasing a comprehensive travel insurance policy as soon as you've booked your trip, ideally within 10 days of your initial booking. This ensures you have access to the widest array of plans and benefits.
Prepare for the Inevitable: Delays and Disruptions
Travel delays and disruptions have become increasingly common, largely due to significant challenges within the aviation industry. In the past year alone, widespread technology failures, airline staffing shortages, and air traffic control issues have impacted more travelers than ever before. Recent data shows a significant increase in travelers seeking coverage for delay-related incidents.
Our Advice: When choosing a policy, prioritize Travel Delay coverage that activates after a reasonable delay, such as three hours, and covers delays caused by any common carrier. This will provide you with the most comprehensive coverage and flexibility should your travel plans hit a snag.
Smarter Spending: More Expensive Doesn't Always Mean Better
It's a common misconception that a higher price tag on travel insurance equates to superior coverage. This isn't always the case. More affordable policies aren't necessarily inferior. Some insurance providers simply employ different pricing models based on their risk assessment.
Our Advice: Focus on your specific coverage needs. Choose the least expensive travel insurance policy that fully meets your requirements, rather than assuming a higher price offers better value.
Think Twice Before Opting for Airline or Cruise Line Add-Ons
Many travelers instinctively accept the insurance offered by airlines or cruise lines without exploring other options. While these policies can offer basic protection, they often come with limited coverage and less flexibility compared to independent plans.
Our Advice: We strongly suggest using a comparison tool to evaluate policies based on coverage amounts, price, and provider ratings. This allows you to make an informed decision and find the best value for your needs.
Credit Card Coverage: A Good Start, But Not Always Enough
Some credit cards provide travel insurance as a cardholder perk. While these plans typically offer baseline coverage for trip cancellation, trip interruption, travel delays, and baggage delays, they often have limitations. The most significant gap is usually a lack of medical coverage.
Our Advice: Consider supplementing your credit card's coverage with a third-party plan, especially if medical or health-related coverage is a priority for your trip. Also keep in minx that most US based health insurance policies do not cover medical expenses outside of the country.
Ready to ensure your next trip is protected? Contact us today to discuss your travel insurance options!