Is Travel Insurance Worth It?

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Is Travel Insurance Worth It?

Many people like to travel and explore different places. Traveling can be expensive nowadays; as you have to worry about travel expenses and take into account emergencies, trip cancellation, or medical emergency costs. In these situations, travel insurance would be beneficial for you; as travel insurance with a good policy will cover most mishaps. Do you wonder if travel insurance worth it?

Now, travel insurance is not just all good with no drawback. There are some situations where travel insurance is unnecessary, even can cause you loss. So, there is always confusion among travelers if the travel insurance is worth it.

So, in this post, I will discuss if travel insurance is worth it or not, and in which cases you must need it.

What Does Travel Insurance Cover

Not all travel insurances are the same. It depends on the insurance company policy. But generally, most travel insurance cover travel-related risks, flight cancellations, medical emergencies, etc.

Now, the coverage aspects also depend on the place, company, number of trips, premium plan you opt for, etc. Your cost of the insurance will also depend on the plan you choose.

For a better understanding, here is an example. Below you will find the list of prices for different trip plans and respective coverage of a leading insurance company called Allianz and Travel Guard.


OneTrip Basic OneTrip Prime AllTrips Basic AllTrips Premier
Trip cancellation Up to $10,000 Up to $100,000 N/A $2,000 to $15,000
Trip interruption Up to $10,000 Up to $150,000 N/A $2,000 to $15,000
Emergency medical $10,000 $25,000 $20,000 $50,000
Emergency medical transport $50,000 $500,000 $100,000 $500,000
Baggage loss/damage $500 $1,000 $1,000 $2,000
Baggage delay $200 $300 $200 $2,000
Travel delay $300 / daily limit $150 $800 / daily limit $200 $600 / daily limit $200 $1,500 / daily limit $300
Rental car damage/ theft N/A N/A $45,000 $45,000
Travel accident N/A N/A $25,000 $50,000
Pre-existing conditions Covered if certain criteria are met Covered if certain criteria are met N/A Covered if certain criteria are met


When Should You Opt for Travel Insurance and When Should not?

If you are travelling to a place where the weather is unpredictable or there is the possibility of a storm or other natural hazards, your whole trip might be cancelled. In that case, travel insurance is pretty handy.

On the other hand, if you are uncertain about the trip and there is a possibility of you canceling the trip, you have to cancel the flight tickets. In most cases, you have to pay the penalty for cancellation or the amount is not refundable at all. Travel insurance will cover that aspect and you don’t have to worry about the cancellation fee.

Also, the company usually provides medical help if you get sick or accidentally injured on the trip. Some companies even cover the lost belongings. When you lose some of your baggage or belongings, the company refunds or replaces the stuff in your luggage.

Now, there is an exact number of reasons for not getting travel insurance. First, if your flight ticket is very cheap, you don’t need n insurance as it might be more costly than paying a cancellation fee.

Also, if you have any existing medical conditions, most insurances will not cover them. The same goes for intentional (or the company thinks it intentional) injuries.

Remember that most travel insurances don’t cover claims related to COVID 19. So, no luck there. Also, suppose you are traveling far away compared to where you booked the insurance. In that case, the doctors in that place might not accept the insurance policies, and you have to pay your medical bills despite having legit travel insurance. It may also depend on what passport you have. You should also check that in travel insurance.

If you liked the article, leave a comment down below, and don’t forget to share. Thank you for visiting us, have a nice day.

Amit Bhosle

Amit Bhosle is a blogger. I enjoy jotting down ideas and facts, and in the endeavour of doing the same, I come up with various articles on topics related to Travel.

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