Travel insurance: when it is worth it
Travel insurance is a safety net for things that can go wrong. It is not needed for every trip, but it can save you from a very large bill.
What it usually covers
- Medical costs abroad, including emergency treatment and sometimes the trip home.
- Trip cancellation or interruption for covered reasons, such as illness.
- Lost, stolen or delayed baggage.
- Delays and missed connections.
When it is most worth it
- Trips to countries where medical care is expensive or far away.
- Long, costly trips with prepaid, non-refundable bookings.
- Trips with adventure activities, such as skiing or diving, if the policy includes them.
- Trips where you or a family member has a medical condition.
What it often does not cover
- Pre-existing medical conditions, unless certain conditions are met.
- Risky activities that are excluded by name.
- Changing your mind. Standard policies do not cover cancelling for any reason. "Cancel for any reason" options exist and cost more.
- Problems that were known before you bought the policy.
Check what you already have
Some credit cards, health plans and home policies include limited travel cover. Read the details so you do not pay twice, and find out what the limits are.
How to choose
- Compare a few policies, including the medical limit and the exclusions.
- Check that your activities and destination are included.
- Buy soon after you book your trip. Some benefits depend on buying early.
- Keep receipts, reports and documents in case you need to claim.
Keep the number handy
Save the insurer's emergency phone number on your phone and on paper.
Plainly gives general information for everyday decisions. It is not professional medical, legal or financial advice. For personal situations, speak with a qualified professional.