Is Travel Insurance Still Worth It In 2020?

The Traveling Asian
The Traveling Asian

Whenever you are about to travel somewhere, there is something that you absolutely must have. That thing is travel insurance.

Now i know most people don’t tend to think that travel insurance is important and often ignore it. Instead people tend to just go after cheap hotels or cheap flights. After all, why would you waste money on insurance when there is so many other things you can use your money on. Travel insurance isn’t always so cheap, which is probably one of the reasons that many people tend to skip it.

I mean lets face it, most of the time we think we can take perfectly good care of ourselves. We tend to think getting sick or injured from a trip is a pretty rare thing to happen. So we don’t bother with getting any travel insurance.

However that doesn’t mean that injuries or sickness will never happen to you on a trip.

Sure, over the many years of me traveling, I almost never had to rely on my travel insurance, except once when I was in Taiwan and I broke my arm.

But it’s better to be safe than sorry.

It’ll give you a piece of mind knowing that if you do get it, you will be protected in case anything does happen to you.

If you don’t have travel insurance and something does happen to you, things can get very costly very fast.

If you are still confused or on the fence about it, don’t worry.

In this post i’ll show you everything you need to know about travels insurance and how it can help you have a much better trip. You’ll be able to determine if you really need travel insurance or not on your next trip.

What Does Travel Insurance Cover?

Travel insurance is definitely worth purchasing as it can cover a wide array of things that might happen to you during your travels.

Here is a quick list of some of the things that this insurance will cover in most countries:

  • Emergency Medical Insurance
  • Emergency Medical Evacuation
  • Accidental Death & Dismemberment
  • Lost/Stolen Luggage
  • Rental Car Coverage
  • Hotel/Cruise Ship Protection
  • Trip Cancellation
  • Trip Interruption
  • Flight Cancellation/Travel Delay
  • Supplier Bankruptcy

Sure some of these items on the list might seem rare or unlikely to happen such as death or getting your items stolen. However it does happen to people at times and having insurance will cover you and protect you if anything does happen.

By having travel insurance, you are guaranteeing yourself protection in case anything bad happens to you and you will be safe.

If you are wanting an in depth look at what stuff travel insurances cover or what they don’t cover, then I suggest you take a look at my post here.

Travel Insurance Companies To Choose From

There are many companies you can choose from to get travel insurance. One of my favorites however is World Nomads. This company was founded by a former nomad so he knows what it is like to be a traveler. They are my go to company for getting travel insurance and they do a pretty darn good job.

By choosing World Nomads, you are able to buy your policy or renew it in a short amount of minutes. They also have some of the nicest staff I ever seen who are able to help you with any questions you may have.

Not only that but they are also really affordable as their price is pretty fair compared to the other travel insurance companies. If you had to pick one company to buy travels insurance with, then I highly suggest this company.

You can use the simple widget form below to get a quote.

Although this is just my personal favorite, there are many other travel insurance companies out there that will also be able to help you out. A simple google search will bring out a list of all of these companies.

Here are a list of some other travel insurance companies you might be interested in:

When Do You Not Need Travel Insurance

Now it is true that you do not need travel insurance all the time.

There are some instances where travel insurance just isn’t necessary.

Here are some reasons for you to not buy travel insurance:

When your trip cost is relatively low

If you are only going on a trip for a few hours or maybe a few days, then you probably do not need travel insurance. The reason being that you may only lose a few hundred dollars in non-refundable expenses instead of a few thousand.

Now losing money is never a fun idea, however buying insurance for every little trip can cost more than than the payout benefits you will usually see.

On the other hand, if you were to go on an international flight to another country or spend months or years some place else, then travel insurance may be an important thing for you to get.

So you have to do some research and see if travel insurance is actually worth the cost of the trip.

When you already have protection benefits

Did you know, you may already have travel protection for your travels. Depending on what other things you have, your car insurance or renters insurance may provide trip protection. Some travel credit cards also may offer protections for certain things like rental car collision or theft protection.

So if you already are protected, then there is no reason for you to buy another travel insurance package. That is just wasting money, and money you can be using for your travels.

So it is important to know that before you are going to buy your travel insurance, you want to check with your current insurance companies or credit card companies to see if you are already protected. Not only that but you may also want to look at your travel provider’s cancellation policy. This is because if you travel during a hurricane season or snowy season, you want to see how the company will treat weather cancellations.

So be sure to check up on all of these things before you are going to buy your travel insurance.

If you’re just getting it for flights

It may be tempting to buy travel insurance just for a flight in case anything happens. Especially with delays and cancellations being pretty common. However you should know that most basic policies out there for travel insurance is usually not worth your money to insure your flight.

For instance, if your flight is cancelled, you are usually entitled to have the next available seat on the next available flight going to your destination. Or if you experience any significant delays or flight cancellations, you will usually be entitled to a compensation. The airport staff will usually be able to help you out with all of this.

So if you are just getting it for flights, you can probably skip out on travel insurance as it isn’t really needed.

When Do You Need Travels Insurance

When you are traveling internationally

Most of the time, international vacations are a lot more expensive than domestic trips. This is because usually people tend to stay longer and experience everything that the place has to offer. This can be quite costly. You’re also going to be packing a lot of stuff, probably a lot of valuables too in which you want to protect.

Simply because of how expensive these things are and how long your trip is, you will probably want to buy travels insurance for protection. After all, travel insurance can help cover you from a wide range of situations.

Get it for medical reasons

You know, going snowboarding or relaxing on the sandy beaches might sound fun and all. But you never know if something will happen to you along the way. You always want to be protected. And travel insurance can do just that. If you were to get in an accident or break your arm or get sick, visiting the doctor in another country can be very costly. However if you have travel insurance, it will bring the cost down a lot and make it more affordable to you. This is why travel insurance is so important.

If you are going on a cruise

Cruises are probably the most common place where people buy travel insurance. After all, it hits all the marked boxes. It is highly expensive, you are going to a foreign place, and there is a high risk of getting into problems. Which is why buying travel insurance can really protect you in case anything were to go wrong with your trip.

Why It’s Important To Buy Travel Insurance

Now unless you can guarantee nobody will steal your stuff, you can avoid getting sick and injured, you won’t get a flight cancellation, then you may not need travel insurance.

However you can never really say you won’t face these things.

And that is why you should get this insurance.

And it doesn’t have to cost a lot either. Just a few dollars a day will do fine in protecting you from almost anything that may happen to you.

Now i’m not saying something will happen to you, but it’s definitely better to be safe than sorry.

Sure, it is something extra you will have to spend on, but if something were to go wrong, you will save hundreds if not thousands of dollars and also have that peace of mind knowing that you are covered.

Also if you are interested in reading some of my other posts about traveling, you can do so by clicking these links:

Or you can check out all my blog posts by click this link.

So happy traveling’s everybody.


Disclosure: Please note that some of the links above may be affiliate links, and are at no additional cost to you, I earn a commission if you make a purchase. I only recommend products and companies that I have personally used and all the income that I generate from this will be used to help maintain the site and make it a much better place.