Is Travel Insurance Worth It for My Trip?

If something unexpected affects your trip, you may face expenses that you didn't plan for.

Depending on the type of plan, travel insurance can provide coverage for situations such as:

• A canceled, interrupted or delayed trip
• Medical treatment abroad
• Emergency medical transportation
• A missed connecting flight
• Lost, stolen, damaged or delayed baggage

It’s important to remember that travel insurance does not cover every situation. Available coverage is subject to your specific plan’s:

• Benefit limits
• Exclusions
• Conditions
• Eligibility requirements

Before you buy a travel insurance plan, review coverage details to understand how your coverage applies to your trip. 

Discover the top five reasons our travelers think a Travel Guard travel insurance plan is worth it.

Travel insurance is worth considering when a travel disruption could result in certain financial loss or unexpected costs during your trip.

Ask yourself: What would the financial or logistical impact be if my plans changed unexpectedly?

You may find the most value in having a travel insurance plan if one or more of the following situations applies to your trip.

If you have significant prepaid, nonrefundable trip costs, canceling your trip could mean losing money you’ve already spent on travel arrangements such as:

• Flights
• Hotels
• Cruises
• Tours
• Vacation packages

The more prepaid, nonrefundable expenses you have, the greater the potential financial impact of a trip cancellation or interruption.

Ask yourself: How much money would I be comfortable losing if I couldn't take or continue my trip?

International travel can be more complicated than a domestic trip. You may be navigating:

• Unfamiliar health care systems
• Different travel requirements
• Language barriers
• Longer distances from home

Many travelers find a Travel Guard travel insurance plan to be worth it for international trips, especially for coverages and services such as:

• Trip Cancellation coverage
• Travel Medical Expense coverage
• Emergency Evacuation coverage
• Baggage coverage
• Access to travel assistance services

Your U.S. health care plan may not provide coverage outside of the U.S. Before an international trip, check whether your existing health care coverage applies at your destination. If it doesn’t, a travel insurance plan with emergency medical coverage may be worth considering.

Ask yourself: If I need emergency medical care or travel assistance while abroad, will I have coverage and support?

Trips with multiple bookings may be more difficult to rearrange when one part of your itinerary is delayed or changed.

A disruption may have a bigger impact on an itinerary that involves:

• Multiple flights or connections
• Several destinations
• A cruise plus airfare
• Prepaid tours or excursions
• Multiple hotels
• Tight connections

If you’d like support with travel disruptions, a Travel Guard travel insurance plan can help protect your trip investment and offer 24/7 travel assistance services.

Ask yourself: If one part of my trip was disrupted, how difficult or expensive would it be to recover?

Not every travel disruption involves canceling your trip. Lost or delayed baggage, trip delays and missed connections can all result in unplanned expenses while you're away from home.

If these expenses would be difficult to absorb, it may be worth evaluating your travel insurance options before departure.

Ask yourself: Can I comfortably afford unexpected travel expenses if my trip doesn't go as planned?

When you're in an unfamiliar place and an unexpected situation occurs, you may not know who to call, where to go or how to navigate changes to your travel plans.

Travel Guard travel insurance plans include 24/7 emergency travel assistance services, which can be an important factor in deciding whether travel insurance is worth it for your trip.

Depending on your situation, assistance services may help with:

• Finding or coordinating certain medical services
• Arranging emergency medical transportation
• Rebooking certain travel arrangements
• Helping locate lost luggage
• Providing destination travel information

Ask yourself: Would I feel more confident knowing I had access to travel assistance while traveling?

The potential value of a travel insurance plan can vary by trip. You may find less value in purchasing a plan when:

• Your reservations are fully refundable.
• Your potential financial loss is minimal.
• Your existing coverage meets your needs.
• You can comfortably  absorb unexpected travel expenses.

Ask yourself: What coverage do I already have, and would a travel insurance plan be useful for my trip?

A simple way to determine whether a travel insurance plan is right for your trip is to ask yourself these questions:

• How much money would I lose if I had to cancel?
• Could I comfortably absorb that financial loss?
• Am I traveling internationally?
• Does my itinerary include multiple reservations or connections?
• Would a travel delay create significant expenses?
• What travel-related coverage do I already have?
• Would travel assistance services be useful during my trip?

If a travel disruption could have a meaningful financial, medical or logistical impact on your trip, travel insurance may be worth considering.

Once you’ve decided if travel insurance is worth it for your vacation, you can compare Travel Guard travel insurance plans based on the coverages that are most important to you.

Different plans have different coverages, benefit limits, exclusions and conditions. Getting a Travel Guard quote and reviewing plan details side by side can help you determine which option best aligns with your trip and your priorities as a traveler.

Many travelers consider international travel insurance plans especially important because disruptions, medical situations and travel emergencies can be more difficult to manage when you're far from home.

Check whether your existing U.S. health care plan provides coverage at your destination. If your health care plan does not apply outside of the U.S., it may be worth looking into emergency medical expense coverage for your international trip.

Travel insurance may make sense for your domestic trip, because unexpected disruptions can happen closer to home as well as abroad.

Even trips within the U.S. can involve:

• Significant prepaid expenses
• Multiple bookings and reservations
• Delays, cancellations and other travel disruptions

Consider your trip cost, existing coverage and how flexible your reservations are before deciding on a domestic travel insurance plan.

It may be worth looking into a travel insurance plan for your cruise vacation. Just like traveling by land or air, cruises often involve:

• Substantial prepaid expenses
• Multiple travel arrangements
• Supplier-specific cancellation policies

Whether you’re delayed on the way to your cruise departure or need emergency medical care on board, a disruption affecting any part of your itinerary can impact your overall cruise trip.

A short trip can still be worth insuring if you have prepaid, nonrefundable expenses or if certain travel-related coverages and services are important to you. Trip length is only one factor when considering the value of a travel insurance plan.

A short international trip with expensive airfare may have different considerations from an inexpensive weekend trip with flexible reservations. When you weigh the benefits of travel insurance for your short trip, focus on what you could lose, not just how long you'll be away.

No, travel insurance does not automatically cover every reason you might cancel a trip. Trip cancellation coverage generally applies when you cancel for a covered reason and meet the requirements of the plan.

Coverage can vary based on:

• The reason for cancellation
• The plan you choose
• Benefit limits
• Exclusions
• Conditions
• When you purchase your plan

Looking for additional cancellation flexibility? Travel Guard offers optional Cancel for Any Reason coverage with our Deluxe and Preferred plans. It’s subject to eligibility requirements and the terms of the plan, so review your chosen plan’s Policy of Insurance before purchasing.

A travel insurance plan can be worth it even if you have health insurance. Health insurance may apply for certain medical expenses, but a travel insurance plan can offer protection for additional travel-related issues such as trip cancellations and delays, baggage issues and access to travel assistance services.

If you're traveling internationally, it's especially important to understand where your health care plan applies, because it may not provide coverage outside the United States.

Before purchasing a travel insurance plan, compare it with your existing health care plan and ask:

• Does my health care plan cover me at my destination?
• What medical expenses would I be responsible for?
• Do I have coverage outside the United States?
• What deductibles, copays or other out-of-pocket costs could I face?

Would I benefit from travel-related coverages and assistance services that are not available through my health insurance?

Travel insurance may still offer additional value even if your credit card includes travel-related coverage. Credit card coverage can vary widely and may have different limits, exclusions and eligibility requirements than a travel insurance plan.

Before purchasing coverage, check your credit card's:

• Trip cancellation coverage
• Trip interruption coverage
• Travel delay coverage
• Baggage coverage
• Coverage limits
• Exclusions
• Eligibility requirements

Then, compare those features with a travel insurance plan.

A travel insurance plan may be worth considering when airfare is expensive, nonrefundable or tied to other prepaid reservations. For example, a canceled or delayed flight could affect hotel stays, tours, cruises, rental cars or other travel arrangements.

Before purchasing coverage, review your airline's cancellation, refund and change policies, then compare them with the coverage available through a travel insurance plan.

Travel insurance can be helpful if you’re staying in a vacation rental, especially if your Airbnb is a significant portion of your trip investment or has a restrictive cancellation policy.

Vacation rental stays are often part of larger itineraries that include flights, activities, rental cars or multiple reservations. If an unexpected event affects your travel plans, the financial impact may extend beyond just your Airbnb booking.

Before comparing travel insurance plans, review the vacation rental’s cancellation policy and consider how much money you could lose if your trip were canceled, interrupted or delayed. Comparing those potential costs with a travel insurance plan can help you determine whether coverage offers value for your trip.