Should I Buy Travel Insurance?

Should I Buy Travel Insurance? Many travelers ask themselves.  Here’s my story… A few years ago, I wrote about being “stuck in Puerto Rico”  and learning the hard way why travel insurance is a must. We had to spend hundreds of dollars out of pocket when our flight was cancelled and we were not able to get home for several days. I learned the hard way that airlines don’t owe you anything in case of a change or cancellation due to weather.  This is how you end up with airports filled with stuck travelers sleeping on the floor when hit with by a snowstorm.

Should I Buy Travel Insurance for an International Trip?

Lesson Learned: When I booked my flight to Barcelona for my destination wedding via United, I purchased a policy via Allianz as it was offered when I purchased my ticket. I paid $71 for my $1100 roundtrip ticket. My return trip from Barcelona to DC was via Newark airport.  Guess what happened? My connecting flight was cancelled due to bad weather.  My insurance policy came in handy as my hotel room and meals were covered by my trip insurance. As soon as I got home, I filed my claim and received a check in the mail within 10 days.

This past August, we embarked on a three-week trip to Europe, starting in Belgium and ending in Sicily. I knew I had to buy travel insurance given that I was seven months pregnant and had a multi country itinerary involving multiple flights, train tickets, and rental cars. I wanted to ensure we were covered if anything happened during our trip. I researched my options, and purchased the Allianz “classic plan with trip+” for $158 for three weeks of coverage.  I wanted a plan that covered not only flight cancellations or missing luggage but most importantly, emergency medical coverage given my condition. Although nothing happened during this trip, it gave me peace of mind that I was covered in case of an emergency.

Should I buy travel insurance if I am already covered by my credit card?

Many travel credit cards also provide travel insurance if you book your trip with their credit card. My advice is to read the fine print as there are many restrictions to their policies. What I find useful in purchasing a standalone policy from an insurer is that you know all the details about your coverage upfront and you’re not limited to making all your purchases with said credit card, especially with an expensive itinerary.

The Verdict: Travel is an investment of time and money. It seems like every year, airlines become more restrictive in regards to trip cancellations. Additionally, regulations in regards to what you, the consumer rate varies extensively by country. You should buy travel insurance, especially when booking an expensive trip. After you purchase a ticket that costs over $1k, spending an extra $75- $100 may seem like a lot but in the end, you don’t want to be that person sleeping on the airport floor. Ensure that in case of an emergency, you follow the instructions of the policy and keep all your receipts! Happy travels…

Have you purchased trip insurance? Share your experience in the comments!

Disclaimer: This post is sponsored by Allianz Travel Insurance. However, I paid for the policies mentioned in this post and opinions are my own.