As you know, we love to travel. For this month, my posts are going to be about how we plan the day to day details of our upcoming cruise.
Should you buy travel insurance for your upcoming trip? That’s not an easy question to answer, there are many questions to answer so that you can decide for yourself.
According to Wallet Hub, 1 in 6 Americans have an illness or natural disaster happen to them. Are you covered so that you don’t lose you hard earned money? Of these 1 in 6, only 22% have insurance to cover their travel costs and expenses.
Some credit cards offer you coverage for lost or delayed luggage, missed connections, trip cancellations and even death sometimes. All credit cards are different and you need to check your individual card for what your offers you. If you are covered, they offer you reimbursements. That means that you pay upfront. Do you have that money? And they come with restrictions. Remember my Microsoft Surface Pro experience from last fall?
We have one credit card that we always use to rent a car. It gives us coverage so that we can decline the optional rental car company insurances and feel comfortable. We have another credit card that gives us the travel protection of lost or delayed luggage, missed connections, etc. We have done the research for us and you should too.
You should think about what you may need and find out if you are covered with the credit card you already have. Typically, if you don’t charge the trip to that specific credit card, you don’t have the coverage. Then check with your personal insurance, such as auto insurance for rental car coverage, home owners / renter’s for loss of property, etc. Then look into travel insurance, if you need or want more or additional coverage.
You should do this process for your health insurance as well. Most insurance policies don’t cover you when you travel outside the US. All of this pre-planning could offer you the needed assistance in your time of need. So do your research and make the choices that are right for you.