Is travel insurance worth it?

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I'm considering getting travel insurance, but is it worth it? Here's one site (http://www.worldnomads.com) that offers travel insurance for a US citizen for 3 months worldwide at about $187 USD.

Emergency medical: $100k
Hospital room/board: $50/day
Mental: $250
Emergency Evacuation: $300k
Security Evacuation: $300k
Trip Cancellation: $2500
Trip Interruption: $2500
Baggage loss: $1000
Baggage delay: $750
Accidental Death & Dismemberment: $5000
------------------
3 month coverage: $187 total

I've never purchased travel insurance. Is it a common thing to do? Is this stuff even useful?

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It was never as low as $200 (well, maybe 50 years ago it was).

By the way, airlines cannot place arbitrary limits on dela... (more)

geo123 (Jul. 17, 2013 @ 9:03a) |

Depending on where you are going this group covers things insurrance will not in places insurance will not:

Global Rescu... (more)

OneForAll (Jul. 17, 2013 @ 10:36a) |

The way our luck is going . . . . she would tripped and fell. Thanks, if I don't forget I'll report back on AON. Got ... (more)

Red55 (Jul. 17, 2013 @ 12:53p) |

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Depending on what you currently have, some of this coverage maybe duplicate:

e.g., What coverage does your current health insurance provide for international travel?
Did you purchase tickets with a CC and does it provide any coverage for things like baggage delay/loss etc.

You can buy insure for nearly any risk these days but that doesn't mean you should. Are you feeling underinsured for some reason or planning to engage in risky behavior that is not excluded?


Depends.... where are you traveling to and what are you planning on doing there (i.e., what kind of risk is there?)?

I used TravelGuard for my honeymoon - cost was 4% of the entire trip.

We had a flight cancellation during our trip and our luggage went on another flight. We filed a claim for 3 meals, hotel, transit, toiletries, and clothing. It was paid quickly and it was more than . I would absolutely use TravelGuard in the future for expensive trips.

Doesn't your credit card cover travel insurance?

I think for traveling internationally it is absolutely worth it and it really does not cost that much. I have used Allianz Travel Insurance (Access America) in the past and I like them.

Usually, any kind of "insurance" beyond what is required for legal/liability purposes is not a good investment.

Do you currently have health insurance? If so those parts of the proposed policy are redundant.

Of the whole package of travel insurance you mentioned, the medevac is the most likely to be of some value. Especially if you are adventure travelling in some far off locale. Probably you will never need it, but if you do, you'll be very glad you can be evacuated to a good U.S. hospital.

Other advice: keep the emergency number of the U.S. Embassy on hand (or on speed dial). Avoid "stupid" things like bungee jumping in 3rd world countries or swimming in unknown waters. People tend to take a lot more risks abroad that they wouldn't do at home.

There are several types/components to travel insurance.

Trip Insurance: Covers lost bags, costs incurred during delays, etc. I find this is pointless - I can afford to pick up a hotel room in the rare case that a major flight disruption. I would have spent a ton of money over the years to buy trip insurance to get a couple hundred in payback.

Travel Medical: Medical insurance that covers you in foreign countries. Probably a good idea if your existing medical coverage won't cover you outside your home country. When I was traveling internationally my Blue Cross plan had doctors in Europe I could go to in network, so really no need for me at the time.

Repatriation Insurance: Gets you (or your body) home if you run into major incidents. Say you get into an accident overseas and need an air ambulance to get home. That can run into huge $$$$$$$$$. This is usually not expensive since incidents are so rare. When I was traveling a lot I made sure that I was insured. My company carried a $1 million policy I believe, so as long as I was on business travel I was covered. Thankfully never needed.

Annual travel medical insurance is not a bad deal if you travel a lot or have health issues that might need emergency treatment abroad and aren't covered by your own policy. Some repatriation is covered by stuff like AMEX Plat, but get our own policy if you want to be sure.

As with all insurance, it's a negative expected value bet for you, but you may value it highly due to risk reduction.

I'd skip the travel cancellation/ lost luggage type of insurance and just deal with it when it happens. Too many loopholes in coverd events.

How much do you "travel"???

We cruise a lot and always have insurance for each trip. We've filed a few claims over the years. It's not an investment, just protecting your purchase. You just never know what can happen. On a cruise your primary insurance will only reimburse a portion of the visit to the ship's doctor. Travel insurance will cover the balance. We had a friend get dehydrated on a cruise and incurred a $1,500 medical bill. Primary medical only covered a small portion, but the travel insurance picked up the rest. I would not do an annual or quarterly plan though, typically cheaper to buy per trip. Also I don't insure domestic air because it is often cheaper to pay the change fee. But for a cruise once you get into the cancellation penalty phase you are at more risk to lose a lot of money because there are no refunds and you can't apply the unused funds towards a future cruise. Also we always get 3rd party insurance such as CSA because it covers from vendor financial default.

I broke my foot at the train station in Germany on my way back to the US. My Ravel insurance refused to pay because "they don't cover transit days," although I could not find such an exclusion in the policy. I fought it and lost. It is easier to deal with my US medical policy.

I have used travelguard and found them to be a reputable company who took care of my claim when the bag containing my laptop fell and the laptop broke.

The site generally recommend on travel boards is Insure My Trip, it is a travel insurance comparison site, they will bring up all of the major programs so you can compare

We always get insurance when traveling with kids. We have had to cancel trips because one of the kids got sick last minute. Typically we use insurance provided by travel agent site.

You might be surprised how many US insurance companies (especially if employer provided) disallow foreign expenses, as mine does. We nearly always buy a supplemental medical insurance policy (not for trip cancellation) when traveling, usually making a purchase beginning at the www.squaremouth.com website.

jaimelobo said:   The site generally recommend on travel boards is Insure My Trip, it is a travel insurance comparison site, they will bring up all of the major programs so you can compare

I second this. The only site I use now.

+1 for Travelguard, they are good.

Kanosh said:   Usually, any kind of "insurance" beyond what is required for legal/liability purposes is not a good investment.

...unless you have asymmetrical information.

OP: Are you planning to cliff dive more, run from more bulls, try more bug dishes, hit on more attractive sisters, etc. than the median traveler? If so, it's possible that it is.

Trip cancelation is useful if you get sick and can't travel. Believe me, I used to say "I'll just drag my butt to the airport and deal with it". Ah... that can be an awful lot more difficult than you think. Also you expose everyone at the airport and especially everyone on the plane to your germs. Plus these days, they don't necessarily let you on the plane if you're pale and sweaty, like they might have in years past. If you happen to be traveling in countries where the food or water could make you sick, the risk is a lot higher of you being ill on travel day.

Baggage insurance - some airlines only cover passengers for a maximum of $200/suitcase. Much of the time that barely covers the cost of the suitcase itself, never mind any of the contents. Lost luggage happens. A lot. Often insurance is the only way you will be reimbursed fully for expenses related to replacing the contents of your suitcase. This is probably the type of insurance you are most likely to need to use.

Medical Insurance - Can be far and away the most valuable. But its value depends on what your insurance at home covers when you travel.

gooddealie said:   Baggage insurance - some airlines only cover passengers for a maximum of $200/suitcase. Much of the time that barely covers the cost of the suitcase itself, never mind any of the contents. Lost luggage happens. A lot. Often insurance is the only way you will be reimbursed fully for expenses related to replacing the contents of your suitcase. This is probably the type of insurance you are most likely to need to use.
Did you just pull this $200 limit out of thin air?
According to the DOT, US domestic baggage liability (as of March 2013) is $3400. Source: http://www.dot.gov/sites/dot.dev/files/docs/Domestic%20Baggage%2...
International flights are now subject to the Montreal Convention (which is ratified by most countries), which limits baggage liability to 1311 SDR (some weird IMF unit) which is by my calculations is about $746.
Both are a good bit more than $200.

biomedeng said:   gooddealie said:   Baggage insurance - some airlines only cover passengers for a maximum of $200/suitcase. Much of the time that barely covers the cost of the suitcase itself, never mind any of the contents. Lost luggage happens. A lot. Often insurance is the only way you will be reimbursed fully for expenses related to replacing the contents of your suitcase. This is probably the type of insurance you are most likely to need to use.
Did you just pull this $200 limit out of thin air?
According to the DOT, US domestic baggage liability (as of March 2013) is $3400. Source: http://www.dot.gov/sites/dot.dev/files/docs/Domestic%20Baggage%2...
International flights are now subject to the Montreal Convention (which is ratified by most countries), which limits baggage liability to 1311 SDR (some weird IMF unit) which is by my calculations is about $746.
Both are a good bit more than $200.


Interesting. I stand corrected. When Alaska Airlines lost my baggage a number of years ago, that's the explanation I was given - $200 and they threw in two $50 (out of the goodness of their hearts /sarcasm) airline vouchers for a "future trip". I had baggage insurance and was compensated by the insurance company, so I didn't pursue the issue further with the airline. I guess it could also be that the limits didn't exist back then.

This article maybe explains the limits in an easier to understand manner than the federal register entry: http://www.cntraveler.com/daily-traveler/2012/06/airlines-baggag...

AMEX - covers many things. If you travel in style, and your time is money - duh

Fashion is expensive, especially in the EU to replace.

Nothing is better than getting out of those nasty clothes from an airplane into fresh duds and hitting up paris in style.

Well except when your bags are gone.

Women can rack up a eff-ton in little things like makeup,jewelry, etc. Amazing how easy it is for women to be wearing $15K in items.

AMEX Plat is pretty cheap once you consider the value of the benefits vs. the annual fee.

Many premium credit cards offer some insurance when they are used to purchase tickets, check that out as well.

There are various travel insurance that insure a person in case of trip cancellation, trip interruption, accidental death or dismemberment, medical and dental care, transportation to medical facilities, loss of luggage or personal possessions and protection against the bankruptcy or default of your cruise line or tour operator. Depending upon your requirement and needs, you can opt the one you want.

Well, I'm about to find out how good AON is. Bought thru the site selling the trip (cheap caribbean) Bought it cause didn't want to worry about medical in a foreign country and felt it was a fair value.

Wife fell a sleep on the couch and fell on the floor breaking her elbow in two spots, 12 days before departure. Both specialists wanted to operate, but she in no condition to go thru surgery. So full arm cast, so instead of going away and being waited on . . . I getting to be the everything guy. Really doesn't bother me, as much as seeing the pain she's in. Thankfully each day it's getting better and first follow up x-ray indicated no additional separation, so looks like the cast will work.

Sorry to hear . That sucks . Place pillows next to the couch in the future to break the fall

gooddealie said:   biomedeng said:   gooddealie said:   Baggage insurance - some airlines only cover passengers for a maximum of $200/suitcase. Much of the time that barely covers the cost of the suitcase itself, never mind any of the contents. Lost luggage happens. A lot. Often insurance is the only way you will be reimbursed fully for expenses related to replacing the contents of your suitcase. This is probably the type of insurance you are most likely to need to use.
Did you just pull this $200 limit out of thin air?
According to the DOT, US domestic baggage liability (as of March 2013) is $3400. Source: http://www.dot.gov/sites/dot.dev/files/docs/Domestic%20Baggage%2...
International flights are now subject to the Montreal Convention (which is ratified by most countries), which limits baggage liability to 1311 SDR (some weird IMF unit) which is by my calculations is about $746.
Both are a good bit more than $200.


Interesting. I stand corrected. When Alaska Airlines lost my baggage a number of years ago, that's the explanation I was given - $200 and they threw in two $50 (out of the goodness of their hearts /sarcasm) airline vouchers for a "future trip". I had baggage insurance and was compensated by the insurance company, so I didn't pursue the issue further with the airline. I guess it could also be that the limits didn't exist back then.

This article maybe explains the limits in an easier to understand manner than the federal register entry: http://www.cntraveler.com/daily-traveler/2012/06/airlines-baggag...
It was never as low as $200 (well, maybe 50 years ago it was).

By the way, airlines cannot place arbitrary limits on delayed luggage reimbursements either: http://www.airfarewatchdog.com/blog/10505773/guidance-on-reimbur...

Depending on where you are going this group covers things insurrance will not in places insurance will not:

Global Rescue'smission is to provide the highest quality medical, security, transport, and other critical services for our members anytime, anywhere in the world.

SUCKISSTAPLES said:   Sorry to hear . That sucks . Place pillows next to the couch in the future to break the fall

The way our luck is going . . . . she would tripped and fell. Thanks, if I don't forget I'll report back on AON. Got a feeling it maybe a few weeks before anything happens.



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