Can You Afford NOT to Buy Travel Insurance?
Health, auto, home and pet top the list of insurances purchased regularly. When saving for a trip of a lifetime, consider buying travel insurance. Travel insurance can be a mystery. Most travelers think insurance is something they should have, but many are not clear on what it covers or why it is important. As experts in the industry, Aladdin Travel employees are regularly asked whether or not someone should buy insurance. Our typical response includes the following questions:
- Can you afford to lose the financial investment should something force you to cancel the trip? Not buying travel insurance means that if you have to cancel your trip at the last minute, you will be subject to the cancellation penalties enforced by each individual vendor. It could be as “little” as a change fee from the airlines costing hundreds of dollars, up to a nonrefundable hotel package worth thousands of dollars.
- Can you afford to replace everything in your checked luggage at the costs associated with shopping in your final destination? If you are headed to New York City, finding affordable clothing will not be a concern; but if you are traveling to an exotic island where the only place to shop is the expensive hotel gift shop, it will be another story.
- Can you afford the out of pocket expenses that may be associated from seeking medical treatment outside of your preferred network? If you are traveling domestically and require medical treatment, your insurance likely will not cover 100% of the costs associated with treatment. Travel insurance acts as a primary insurer, covering deductibles, co-pays and other out of pocket expenses you will incur before even filing with your own medical insurance company.
- Can you afford to bring yourself or your loved ones home if a serious accident or injury occurs on the trip? Maybe you are traveling domestically and the cost to get home will be relatively low, but if you are leaving the country, you should know that medical evacuations start in the tens of thousands of dollars. If injuries require special accommodations on the ride home, a first class airline ticket easily can be an additional several thousand dollars.
If you can afford to gamble on these things or pay for them out of pocket, then decline the opportunity to protect your travel investment. However, if you are interested in exploring the ways you can protect your investment, Aladdin Travel is ready to recommend a travel insurance plan that is appropriate for you. It doesn’t matter how you purchased or planned your vacation, we can still help you minimize the risk. Everyone hopes for the best, but planning for the worst is what sets the smart traveler apart.
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