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Is Travel Insurance Really Needed?

With the holidays quickly approaching, you may have recently booked a flight and hotel for your holiday destination and are busy planning the details to ensure that your trip will be perfect. Traveling is exciting any time of the year, unfortunately, there are risks associated with every trip. To ensure that your trip is as perfect as you imagine, don’t overlook one important task: purchasing travel insurance. 

So, when do I need it?

International Trips: It’s no secret that international vacations are typically more expensive than domestic trips. Because of the advanced planning and additional cost, you should definitely consider spending for comprehensive travel coverage that will cover you in a wide range of situations.

Medical Reasons: If something goes wrong in a faraway place, medical help can be difficult to come by and it could be expensive! This is one area where the benefits of travel insurance can come in handy as it can help you avoid large out-of-pocket expenses. You should also check with your current medical insurance as MOST medical insurance-with the exception of Medicare- will pay “customary and reasonable” hospital costs abroad, especially if you’re in a major city like London. But, if you run into a more serious issue, the bills can add up quick.

Cruises: Cruises hit all major areas where comprehensive travel insurance is recommended. It can cover a wide range of situations including hurricanes. The 2017 season was pretty active, leaving a lot of cruisers affected by storms. Cruising during hurricane season can net you some deals, but once the storm is spotted and named, you can’t receive insurance.

When do I not need it?

For US Travel: When traveling within the U.S.A it is typically a less expensive investment and most people tend to plan only a few weeks in advance. The plus side is, if you have medical insurance, you’re typically covered for any emergencies that occur. As always, double check the fine print and find what works best for you and your travel situation. 

Your Card: Since some credit cards actually offer travel insurance as a perk, check your wallet before you travel! Even if you are traveling outside of the U.S. your credit card coverage can often be thorough enough that you won’t need to purchase anything extra.

For Flights: Although it can be tempting to buy trip cancellation insurance when a flight costs hundreds or thousands of dollars, basic policies are not worth your money to insure just your flight if you know your rights as a passenger.  For example, if your flight is canceled, you are entitled to have the next available seat on the next available flight going to your chosen destination.

Whether you’re in an unfamiliar country or at home getting the right travel insurance for your needs could deliver you greater peace of mind and allow you to recoup your losses against any unforeseen eventualities. Contact SOGO today to get started on your quote!