Making Sense of Travel Insurance
Travel is full of uncertainties. And it doesn’t matter whether you travel by air, train, car or cruise ship — or where you stay. The nonprofit Consumers’ Checkbook reports airlines and travel providers manufactured ways to “protect” customers from their own cancellation and refund policies even before thepandemic. Now wary travelers are more willing to take the bait.”I’ve been twigs about travel insurance for a while. The policies sold by airlines are horrible. They don’t cover much and tend not to pay out.”Kevin Brasler of Consumers ‘ Checkbook says there are three main types of travel insurance. Trip interruption and cancellation policies pushed by travel providers Cancel-for-any-reason plans, available from numerous travel insurance websites And medical insurance policies aimed at international travelers He thinks it’s a waste of money to buy the trip interruption and cancellation policies issued by airlines, hotels and other travel companies because they provide skimpy coverage. “The layers of limitations for these policies really render these policies useless,” Brasler said. Cancel-for-any-reason plans are more robust. Brasler said they offer travelers many benefits and peace of mind, regardless of the reason for canceling. “You can get your money back, any money you would’ve lost. The problem is these plans are pretty expensive,” he said. Brasler said it makes sense for some international travelers to buy medical insurance policies. Who needs them? Medicare beneficiaries since medicare will not cover foreign healthcare costs. And anyone visiting places with limited medical facilities. In those cases, it pays to have protection against an expensive medical evacuation.”Air ambulances can cost $50,000 to $200,000 plus, depending on what you need and where you need to go, and that’s the type of financial risk consumers should insure against.” How much can you afford to risk? That’s the question to consider before you buy any travel policy. You may not like losing the value of a $200 hotel room or modestly priced airline ticket. But if you have the resources, it’s not a good financial decision to insure a slight potential loss.
Travel is full of uncertainties. And it doesn’t matter whether you travel by air, train, car or cruise ship — or where you stay.
The nonprofit Consumers’ Checkbook reports airlines and travel providers manufactured ways to “protect” customers from their own cancellation and refund policies even before the pandemic. Now wary travelers are more willing to take the bait.
“I’ve been a twig about travel insurance for a while. The policies sold by airlines are horrible. They don’t cover much and tend not to pay out.”
Kevin Brasler of Consumers’ Checkbook says there are three main types of travel insurance.
- Trip interruption and cancellation policies pushed by travel providers
- Cancel-for-any-reason plans, available from numerous travel insurance websites
- And medical insurance policies aimed at international travelers
He thinks it’s a waste of money to buy the trip interruption and cancellation policies issued by airlines, hotels and other travel companies because they provide skimpy coverage.
“The layers of limitations for these policies really render these policies useless,” Brasler said.
Cancel-for-any-reason plans are more robust. Brasler said they offer travelers many benefits and peace of mind, regardless of the reason for canceling. “You can get your money back, any money you would’ve lost. The problem is these plans are pretty expensive,” he said.
Brasler said it makes sense for some international travelers to buy medical insurance policies. Who needs them?
- Medicare beneficiaries since medicare will not cover foreign healthcare costs.
- And anyone visiting places with limited medical facilities. In those cases, it pays to have protection against an expensive medical evacuation.
“Air ambulances can cost $50,000 to $200,000 plus, depending on what you need and where you need to go, and that’s the type of financial risk consumers should insure against.”
How much can you afford to risk? That’s the question to consider before you buy any travel policy.
You may not like losing the value of a $200 hotel room or modestly priced airline ticket. But if you have the resources, it’s not a good financial decision to insure a slight potential loss.