Planning for your summer vacation? You might consider travel insurance. Larry Manganello loves to go cruising. Manganello says there’s one thing he never does without. Travel insurance.
“If something happens to you, forget it, it’s going to cost you a fortune,” Manganello said.
Travel insurance should cover you if you have an unexpected cancelation, delay or interruption in your trip.
According to AAA, travel insurance is always recommended for customers, especially when your trip costs thousands of non-refundable dollars. Michele Motley-Deguenther says it’s all about a safety net.
“It’s that peace of mind to have that whatever you’ve spent, you’re going to re-coop,” Motley-Deguenther said.
The other key part of travel insurance covers you if you become sick or injured while on a trip. This can be especially important if you’re traveling abroad, since your regular health insurance might not cover you.
“If you’ve got hospitalization, they’re going to put the money up front for you,” Motley-Deguenther said. “If you have to be medevac’d off of a cruise ship, they’re going pay and make the arrangements.”
Longtime travel agent Peggy Thibault says a lot of people pass on travel insurance because of the cost.
“Sometimes it’s a hard sell,” Peggy said. “It can be, you know, a $1000 a person.”
Travel insurance is typically between four and eight percent of your trip’s pre-paid, non-refundable cost. And the older you are, the most expensive it gets.
But, travel insurance also covers things like lost bags and concierge service to help you find tickets to events or make reservations.
Not all travel insurance is the same. Be sure to shop around to compare rates and coverage.