Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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Simply put, the pros of travel insurance are complete coverage and peace of mind. The cons of travel insurance are the high costs that may turn out to be unnecessary. There are also a few other technicalities which we will consider.

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Who can deny that holidays and vacation evoke excitement? The very idea of traveling away from home and the hunger to feast one’s eyes on beautiful scenery, new foods, different cultures and places of interest is exciting!

Use the data that follows to determine if travel insurance will make your trip a stress free vacation, or simply drain funds from your travel trough.

Pros: Basic Travel Insurance Coverage

The pros of travel insurance are in the basic and additional protection you can receive when things go awry away from home. However, the decision to travel also requires important decision-making. Hindsight is 20/20, but foresight is often lacking.

Therefore, it’s important to give attention to the safety side of your care-free trip. The most basic coverage options of travel insurance involve medical coverage as well as quick transport back to your country of origin. (You definitely don’t want to pay cash for an emergency helicopter ride!) Some policies may also include protection against trip cancellation, lost baggage and other possible casualties.

If you are investing tens of thousands in a cruise that would be ruined by illness, or traveling overseas, medical travel insurance coverage is considered a wise investment. Most health insurance plans will not cover out of the country medical care.

You must also consider:

  • What activities you will participate in
  • Your destinations
  • The time of year that you are traveling
  • Your overall health
  • Any medications you require

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Cons: What is Not Included in Travel Insurance Coverage

There is no shortage of insurance companies offering travel insurance products. Travel agencies usually do offer insurance policies, but many believe it is best to shop around ahead of time to compare prices and coverage.

Yes, these contracts can be lengthy but it’s important to know what is covered and what isn’t. You might get a little discouraged at first when contemplating the “cons” of getting travel insurance. Besides the cost of travel insurance, the following technicalities are concerning to some travelers.

There are definite items for which you will not be covered:

  • Changing your mind for personal reasons
  • Outbreak of war (although terrorist threats may be)
  • Pre-existing medical conditions
  • Damage by customs
  • Self-induced illness

While you might be able to leave the country via helicopter or private plane during an emergency, a refund will probably not follow. However, other policies do cover acts of terrorism, if the event causes you to miss your preferred method of travel.

Unfortunately for many travel insurance policies, pre-existing medical conditions are not covered. Some insurance companies will make exceptions but with stipulations attached; for example, the insured must be declared symptom-free for a certain amount of time.

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Why Do You Need Traveler’s Insurance?

Now let’s consider the pros. There are many advantages to buying a traveler’s insurance policy.

  • What if you experienced a medical emergency in a foreign land and needed a hospital stay along with treatment? If all you take with is a U.S.-based healthcare card, you might as well be uninsured. Traveler’s insurance guarantees that you will be covered in a medical emergency.
  • What if you must cancel a trip or cut one short due to a serious illness in the family? This scenario is sometimes covered under a traveler’s insurance contract.
  • What if your luggage is delayed or lost? Luggage being lost is a common scenario, and travel’s insurance typically covers this risk. The policy will reimburse the traveler for a pre-specified amount attached to the luggage bag. (Be sure to check the fine print for any limits.)

There are also insurance policies for accidental death or dismemberment, group travel insurance, flight accident insurance and even a hazardous sports and activities policy that covers you for risky sports like skiing or rock climbing. You should also look into insuring valuable equipment that you bring on vacation, like lap tops, video equipment, game systems and so on.

Once your policy is in effect, you can call the insurance company’s hot line whenever an issue arises regarding legality or medical emergencies. Ideally, it is best to write down any questions you have in advance of purchasing a policy so you can ask the insurance company representative. Ask about any exclusions or terms you don’t understand in the contract.

The more you know about your policy the less chance there is of you being unpleasantly surprised about your lack of coverage.

You generally don’t need traveler’s insurance for short, close to home trips where the cost of coverage can be addressed in other ways. For instance, if the airline offers lost or delayed baggage coverage of up to $400, and your items are worth less than that amount, you can forego that coverage.

The further in advance your plan a trip, and the farther from home you travel, the greater your need for coverage. Why not look for a traveler’s insurance policy right now using our web chaser tool? Enter your zip code and get travel insurance quotes today!