When planning a bargain vacation, travel insurance can seem like an added cost. But it does give peace of mind should something unexpected go wrong.
The idea of travel insurance came to mind with all of the Hurricane Sandy coverage. Passengers on board the Disney Fantasy had their vacations ruined when stormy seas prevented them from enjoying the standard experience. While most disembarked the ship with apologies and an offer for 25% off a future cruise, those who purchased travel insurance fared much better.
I am a skeptical guy when it comes to purchasing extended warranties and travel insurance. I roll my eyes at the electronics store clerk when he tries to upsell me with a store warranty. When planning my family’s upcoming Disneyland trip, I chose to skip the optional travel insurance in exchange for saving a few bucks.
In hindsight, I wish that I had purchased that travel insurance. Usually, you hear people recommend making the purchase for international travel. But in this age of random travel issues and strange weather, it can’t hurt to pay a few bucks and protect your domestic travel as well.
Consumer reports says that travel insurance is a $2 billion a year industry. There are many types of travel insurance to consider, which cover everything from natural disasters to personal medical emergencies. The important thing is to buy wisely.
Your existing health insurance will likely cover medical emergencies and your car insurance will cover a fender bender in a rental car. Some credit cards offer coverage for minor items like lost luggage if you book using their card. For instance, I booked our trip using my American Express card for that very reason.
You should also consider buying travel insurance from a source other than your travel agent, who may be swayed by high commissions rather than what is best for you. Also, if the insurance comes from your travel agent or tour operator, the coverage might prove worthless if they go bankrupt. Online brokers like InsureMyTrip.com sell coverage from multiple carriers, offering you more peace of mind than if you purchased from one of the small guys.
The Walt Disney Travel Company offers travel insurance, which I would consider a safe bet. It is unlikely that the Disney company will disappear overnight. If you book through them, or similarly if you book through a large travel operator, then buying insurance through an online broker might not be necessary.
Travel insurance is an added cost, and one that might seem frivolous when trying to get the best bargain on a vacation. But consider the investment you’re making in your trip and decide if a few dollars more are worth the peace of mind. If you give it some thought, you’ll likely find that the cost is well worth a better night’s sleep.
Photo via Heather, video from WSMV Channel 4