Why You Should Buy Travel Insurance Ahead of the Holiday Season

Safeguard your adventures with comprehensive coverage against unforeseen events.
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What is travel insurance?

Travel insurance is a type of insurance coverage that provides financial protection against unexpected events or emergencies that may occur during your travels, such as trip cancellations, medical emergencies, lost baggage, or other unforeseen circumstances.

What are the main types of travel insurance?
  • The main categories of travel insurance are typically based on the type of coverage they provide. Here are the main categories of travel insurance:
  • Trip cancellation/interruption insurance: This  covers expenses incurred if you need to cancel or interrupt your trip due to covered reasons such as illness, injury, death, natural disasters, or other unforeseen events. 
  • Medical insurance: This provides coverage for medical expenses incurred while traveling. It can include emergency medical treatment, hospital stays, doctor’s visits, medications, and medical evacuations.
  • Baggage and personal  belongings insurance: This type of travel insurance protects against loss, damage, or theft of your luggage, personal belongings, and valuables during your trip. 
  • Travel delay insurance: This covers additional expenses incurred due to unexpected delays, such as flight cancellations, missed connections, or severe weather conditions. 
  • Emergency evacuation insurance: This category assists with the cost of emergency evacuations, particularly in remote or medically inadequate areas. 
  • Accidental death and dismemberment insurance: This provides financial compensation in the event of accidental death, loss of limbs, or permanent disabilities resulting from accidents that occur during your trip.
How much does travel insurance cost?

The cost of travel insurance varies depending on several factors, including your destination, the length of your trip, your age, the coverage options you choose, and any pre-existing medical conditions. It is advisable to compare quotes from different insurance providers to find the best coverage at a competitive price.

Where can you buy travel insurance?

Travel insurance can be purchased from various sources, providing flexibility and options for travelers. Here are some common places where you can buy travel insurance:

  • Insurance companies: Many insurance companies offer travel insurance policies. You can directly contact insurance providers to inquire about their offerings, receive quotes, and purchase a policy. These companies may have online platforms or local offices where you can access their services.
  • Travel agencies: Travel agencies often offer travel insurance as part of their services. When booking your trip through a travel agency, they can provide you with options for travel insurance coverage and facilitate the purchase on your behalf.
  • Online travel booking platforms: Online travel booking platforms, such as Expedia, Travelocity, or Kayak, often provide the option to purchase travel insurance during the booking process. These platforms may partner with insurance providers to offer a range of policies that you can select from.
  • Credit card companies: Some credit card companies offer travel insurance as a benefit to their cardholders. If you have a credit card with travel-related perks, review the terms and benefits associated with your card to see if travel insurance coverage is included and how to access it.
  • Comparison websites: There are online comparison websites that allow you to compare different travel insurance policies from multiple providers. These platforms provide a convenient way to review coverage options, prices, and customer reviews, helping you make an informed decision.
  • Specialized travel insurance providers: There are companies that specialize in travel insurance, offering a wide range of policies tailored to different types of travelers and trips. These specialized providers may have additional coverage options or unique features that cater to specific needs, such as adventure travel or long-term travel.

With data revealing that more than 65% of people plan to travel for the holidays this year, airlines are sure to have delays and cancellations.

This is where finding the best holiday insurance for travelers emerges as a valuable safeguard, offering peace of mind and financial protection against a myriad of unexpected situations.

Whether you’re planning a trip to see family, a relaxing beach getaway, an adventurous trek through mountains, or a cultural exploration in a foreign city, purchasing travel insurance should be an integral part of your trip planning process.

Here are some compelling reasons why investing in travel insurance for holiday travel is a prudent decision:

Trip cancellation coverage

Life is unpredictable, and situations beyond our control can force us to cancel or interrupt our travel plans. Travel insurance from companies like Arch RoamRight can reimburse you for non-refundable trip costs in case of sudden cancellations due to illness, injury, or unforeseen events like natural disasters, terrorist incidents, or unexpected work commitments.

woman sitting at airport with head in her hands

Emergency medical expenses

Falling ill or getting injured while traveling can be distressing, especially in a foreign country where healthcare costs might be exorbitant. The best holiday insurance for travelers should include coverage for emergency medical expenses, hospital stays, and medical evacuations, ensuring you receive necessary medical care without worrying about the financial burden. Companies such as MedjetAssist offer robust medical coverage.

Navigator Tip

Don’t settle for the first travel insurance policy you come across. Take the time to compare quotes and policies from different providers. Look into the coverage limits, deductibles, and specific inclusions or exclusions offered by companies to ensure you find the most suitable coverage that aligns with your travel needs and budget.

Lost or delayed baggage

Imagine arriving at your dream destination, only to find out that your luggage has been lost or delayed. Travel insurance from providers like WorldTrips can provide reimbursement for essential items and clothing purchased due to baggage delays or compensate for lost belongings, easing the inconvenience caused by such situations.

blue luggage at baggage claim

Travel delays or missed connections

 Flight delays, cancellations, or missed connections are common occurrences in travel. Travel insurance companies can offer compensation for additional accommodation, meals, or alternative transportation expenses incurred due to such unforeseen circumstances, minimizing the impact on your travel plans and budget.

Navigator Tip

Before purchasing travel insurance, especially for individuals with pre-existing medical conditions, it’s crucial to understand the policy’s coverage regarding such conditions. Some insurance providers, including battleface, offer coverage or waivers for pre-existing conditions if certain criteria are met.

Emergency assistance services

The best holiday insurance for travelers should include access to 24/7 emergency assistance services. Whether you need help finding a local medical facility, require legal assistance, or need guidance during an unexpected situation, these services can be invaluable in navigating unfamiliar territory. Companies like Berkshire Hathaway Travel Protection offer comprehensive emergency services.

Coverage for adventure activities

For those seeking adventure during their travels, many insurance policies offer coverage for a wide range of adventurous activities such as skiing, scuba diving, or hiking, providing financial protection in case of accidents or injuries. Providers like Cat 70 and GoReady include coverage for various adventure activities in their policies.

two people hiking

Peace of mind

Perhaps the most significant benefit of purchasing a plan from the great options for the best holiday insurance for travelers is the peace of mind it offers. Knowing that you’re financially protected against unforeseen circumstances allows you to relax and fully enjoy your holiday without worrying about what might go wrong.

Frequently asked questions

It’s advisable to purchase travel insurance as soon as you’ve made significant bookings or payments for your trip, like flights or accommodation. Buying it early ensures coverage for unforeseen events that might occur before your departure.

Many policies offer “Cancel for Any Reason” coverage as an optional upgrade, allowing travelers to cancel their trip for reasons not covered in standard policies. However, this coverage often comes with specific conditions and may not reimburse the full trip cost.

If you encounter an emergency situation covered by your policy, contact your travel insurance provider’s emergency assistance hotline immediately. They can guide you through the necessary steps and provide assistance, whether it’s medical care, evacuation, or other necessary services.

Travel insurance premiums might vary based on several factors, including travel dates, destination, coverage options, and the provider’s pricing policies. During peak holiday seasons, prices might increase due to higher travel demands and associated risks.

Ask the Navigators: Do I need travel insurance?

Editorial Disclaimer: Opinions expressed here are the author’s alone. This post contains references to products from one or more of our partners and we may receive compensation when you click on links to those products.

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