Do You Need Travel Insurance?

Are you planning a vacation abroad? The question is to buy or not to buy travel insurance?

A good travel insurance plan will give you peace of mind that the money you are spending on your vacation isn't lost if you end up not going. Costs, on average, are from 4-10 percent per person of the total cost of the trip per person.

Here are some tips to help you decide if you need travel insurance:

What do you want to insure? Do you need travel medical protection? Do you want to protect in investment in nonrefundable airfare, hotel or cruise costs? Many travel insurance plans can bundle both types into one plan which may not be necessary and definitely costs more.

If you only want to insure travel costs, you may only need a trip-cancellation policy. If you are concerned about health issues only, there are a number of choices for medical-only plans. A single plan will cost less. Some travel medical insurance plans with emergency evacuation are as little as $50 a person.

Check your health insurance thoroughly before starting your vacation. Many people assume that their health insurance will cover them for any medical services and that is not always the case. A lot of health plans these days are based around in-network-only coverage. That means that you are not covered if you see a doctor out of network, unless it is an emergency. A travel medical plan can help bridge the gap of in-network-only health insurance and save you outrageous out-of-pocket fees if you need to see a doctor for any illness whether you are traveling domestically or abroad.

Are you an adventure and active traveller? Thrill seekers and fitness fanatic should buy a plan that offers coverage for hazardous and adventurous sports. Plenty of travel insurance plans exclude coverage for injuries or accidents that happen during certain activities that are deemed to be high risk such as skiing, bungee jumping or scuba diving. SOme plane offer hazardous sports coverage as an optional upgrade while some plans include it. Be sure to check if you are an adventurous traveler.

Worried you may not make the trip? A cancel-for-any-reason plan may be your best option. If you decide not to take your trip for any reason, the money you spent on the trip is protected up to 75 percent. These flexible plans can cost upwards of a few hundred dollars more than standard travel insurance.

If you are going to be traveling you may want to check out your options for additional insurance.   insuremytrip.com    a travel insurance search site. Click the image for more info.