Trip insurance is often seen as a cancellation policy and can be a huge amount of money in your budget. However, it is not always compulsory. So, the question is when to get a travel insurance and when not to get it? The best answer would be “It depends”.
Reasons not to buy a trip insurance
A travel insurance is something you buy with hopes of not needing it. It can take up to 56% of your getaway costs. Sometimes you’d wish not having to take it out, but an insurance is always better than getting money out of your own pocket in case of unpleasant events. However, if you know your rights, you can travel without an insurance. You won’t need one is if you have a medical assurance and it’s a domestic trip. It will cover any emergency that might occur. You also don’t need an insurance if you are travelling by plane. A trip cancellation protection is always an appealing idea, but if your flight is cancelled, you are entitled to have a seat in the next one to your destination – if there is one available, of course. Surprisingly, some credit cards also offer up to $10,000 of insurance!
When to take out an insurance?
If you are taking advantages of the good deals way ahead of your planned trip, you’d consider an insurance. You never know if you have to cancel last minute even though you have already paid 80% of it. Hazardous voyages also need an insurance. A normal medical protection would only cover a small amount of the expenses if you were to have a life-threating accident. Having an insurance, you can prevent out-of-pocked costs. You shouldn’t also skip a cover if you are cruising. It can be offered by the cruise company when you book.