Do I Really Need Travel Insurance?

Do you need travel insurance?

No, well... not until you do.

And by the time you realize you needed it, it's usually too late to buy it for whatever just happened.

Travel insurance is one of those things I hope you purchase and never have to use. Because if you come home from your trip and never needed it?

That's a good thing.

But flights get delayed. Luggage gets lost. People get sick or hurt. Weather happens. Family emergencies happen. And sometimes something happens before you ever leave home that means you can't take the trip at all.

That's why I recommend travel protection.

What Can Travel Insurance Cover?

This is where I think people sometimes underestimate what travel insurance is actually for.

Depending on the coverage you choose, travel insurance can help with things like:

• Trip cancellation or interruption

• Flight and travel delays

• Missed connections

• Lost, stolen or delayed luggage

• Emergency medical expenses while traveling

• Emergency medical evacuation

• Additional expenses when a covered delay leaves you needing a hotel, meals or transportation

And then there are additional coverage options that may make sense depending on you and your trip:

• Cancel For Any Reason

• Cancel For Work Reasons

• Rental car coverage

• Pet care

• Vacation rental damage

• Adventure or extreme sports coverage

You don't necessarily need every available add-on.

The point is knowing what you want protected and choosing your coverage accordingly.

Timing Matters

This is one of the biggest reasons I talk about travel insurance when we're booking your trip instead of waiting until right before you leave.

Some coverage has a clock attached to it.

I typically recommend Faye Travel Insurance, and certain benefits and optional coverages need to be purchased shortly after your initial trip deposit.

Pre-existing medical conditions are one example. With Faye, the plan needs to be purchased within 14 days of your initial trip deposit, along with meeting the other requirements for that coverage.

Optional Cancel For Any Reason and Cancel For Work Reasons coverage also have early-purchase requirements.

So if you're thinking, I'll worry about insurance later, that might be where you lose options you actually want.

Don't Forget About It After You Buy It

Your trip can change after that first deposit.

Maybe you upgrade your cabin, add a non-refundable excursion, extend your trip or upgrade the resort room.

Your travel insurance may need to change with it.

If your insured trip cost increases, your policy should be reviewed and updated so what you've protected still reflects what you've actually spent.

And certain coverage, such as Cancel For Any Reason, can have deadlines for adding those new trip expenses.

It's easy to forget once you've checked “travel insurance” off the list.

So, Do You Need It?

Maybe everything goes exactly as planned.

I hope it does.

I hope your flights are on time, your suitcase shows up on the same plane you do, nobody gets sick and you never have a reason to file a claim.

But none of us knows what's going to happen between the day we put down a deposit and the day we come home.

Going without travel protection is a gamble.

And personally, that's not a gamble I recommend taking with a trip you've spent your time and money planning.

Travel insurance isn't there because we expect something to go wrong.

It's there for the one time something does.