Is It Necessary to Buy Travel Insurance?

Travel insurance covers trip cancellations and interruptions, lost luggage, and accidents or illnesses while traveling domestically or abroad.

The coverage is by the day (number of days of your trip). Limits, deductibles and co-insurances vary by provider.

Before you get it, you should take 3 things into consideration:

  1. Gravity of the trip.
  2. Probability of cancellation.
  3. Probability of member needing medical attention.

Getting the right coverage will help you save thousands of dollars and give you peace of mind when you either travel alone or with family members.

If you want to learn more regarding travel insurance, check our article Do I Need Travel Insurance If I Have Health Insurance? and Should You Buy Travel Insurance?.

Remember to compare multiple quotes from top rated insurance carriers using before you make your final decisions.

About Dale Williams

Dale Q. Williams, MBA, is a well-respected financial executive whose experience spans from insurance to investment banking. Dale has first hand underwriting experience through working for one of the largest U.S. based insurance carriers, and advisory experience from working for several bulge-bracket and middle-market investment banks. Dale also received his MBA from University of Chicago Booth School of Business, with concentrations in finance and accounting.