Calling All Earth Voyagers: What Is Travel Insurance and Why You Need

By admin / August 1, 2018

What Is Travel Insurance and Why You Need It if You Travel Frequently

If you’ve been bit by the travel bug and you need to see the world, you’re going to want some travel insurance. Don’t know what that is, or how you could benefit from it? Well, you’re in the right place because we’ll explain what travel insurance is, the different plans available, and why you need it right here!

We only have one life to live, and there sure is a lot of Earth to cover in that time.

If you’ve come down with a bad case of wanderlust, you’ve come to the right place. Because there is one big factor you should consider before you jump onto the next plane or make a mad dash for the car: travel insurance.

You’ve heard of it, but is it really worth the cost? Read on to find out.

A Journey Towards Clarity

Before we dive into the exciting opportunities travel insurance opens up to voyagers, it’s best to set a few things straight.

Travelers’ insurance covers a list of services, but each policy is unique in exactly what is offered:

  • Trip cancellation or interruption coverage
  • Property damage or lost baggage
  • Medical expenses
  • Flight accidents

Almost every plan offers 24/7 emergency services.

The easiest way to think of travel protection is by the three main categories it covers: you, your possessions and your money.

Travel insurance is purchased with a booking for a single trip or to cover multiple voyages within an extended time frame. Expect to pay between 5% and 7% of your vacation’s cost to cover all three categories in a plan.

Planes and Plans

So what are the major types of plans offered? Here, we’ll provide several popular choices.

Vacation Plans

Planning a romantic getaway to Hawaii? Or maybe you’re going on an African safari?

Wherever your travels may take you, if you are concerned about only one trip, a vacation plan is the right choice. This convenient critter goes by many names: package plans, comprehensive travel insurance and trip insurance are only a few.

This plan covers all the basic concerns a vacationer may have:

  • Trip cancellations or interruptions
  • Delayed or lost baggage
  • Medical emergencies

Most cover other travel concerns, too. When people refer to “travel insurance,” they typically mean a vacation plan.

Medical Plans

If you travel beyond the US, chances are your home medical insurance won’t cover you in the case of an accident.

A medical plan comes to the rescue here. It focuses coverage on medical expenses and medical evacuations, but it does not provide coverage for lost baggage or cancellations.

Accident Plans

No one expects an accident, especially while traveling. But they do occur, and it’s best to be prepared. If you travel often or have a condition making you susceptible to injuries, this is a plan to consider.

It covers the medical costs of any accidents that occur, including repatriation if necessary.

For scenarios involving personal injury, this insurance can also provide necessary medical documentation that might otherwise be out of reach beyond the US. You can find more info on personal injury cases here.

Annual Plans

For soon-to-be seasoned travelers, the annual plan provides the same coverage on every trip you take for an entire year.

It’s great for businessmen and women or free-spirited folk who plan to adventure frequently. The plan doesn’t change and it’s there until the package expires.

Specialty Plans

Do you have a specific concern? If so, a specialty plan is right for you.

It covers needs that aren’t met in traditional plans:

  • Ransom or kidnapping
  • Car rental coverage
  • Term life insurance

These are ideal for the odds and ends that constant travelers may need and for professions that involve regular forays into dangerous or unique territories: journalists, politicians and academia-minded individuals. They are convenient for individuals traveling alone.

The Perks of Adventure

Travel insurance offers several major advantages for distance roamers.

Peace of Mind

Most importantly, you won’t have to worry about breaking a leg if you’re inclined to fall. Instead, you can rock climb or sashay your way around forests without too much worry.

You also know you’re covered if some mishap leads to a cancellation or your entire suitcase goes missing at the airport. If you have a substantial amount of money invested in a trip, it’s a sound way to minimize worries.

Health and Safety

Speaking of breaking legs . . .

Forbes’ Geoffrey Morrison broke his leg in Chile. Thankfully, he had a package that covered medical insurance and cancellations. He received the care he needed and ultimately was refunded $2,572 of the $2,833 he spent after the accident.

This is a great way to keep travelers safe.


As in Morrison’s case, travel insurance refunds you if anything happens or if you cancel your trip. Financial recovery for medical issues, cancellations, delays and more is available if anything happens, although you will have to provide proof of everything to the agency.


Do you have a job that spreads its way across your agenda book like spilled coffee? If so, the flexibility travel insurance offers will provide a lot less hassle for you.

If you need to delay or cancel your trip, you won’t lose the thousands of dollars invested into the vacation and you can reschedule for a convenient time. For anyone planning a trip months or even years in advance, this can be a lifesaver.

Is Travel Insurance Up My Alley?

So is it ideal for you? The right answer is it depends.

To find out, ask yourself these five questions:

  1. How much money will I lose if I cancel? Understanding this will make it easier to assess whether or not you should invest in insurance.
  2. What is my destination like? Consider political stability, climate, any current diseases and any warnings issued by your nation about the region.
  3. How far away is your trip? If your vacation’s sun and palm trees is still a distant dream, contemplate insurance. You never know what will happen between now and then.
  4. Do I already have coverage? You might be surprised. Check with your credit card company, booked hotels and airlines.
  5. How often do I travel and will insurance put my mind at ease? If you are constantly traveling, investing in insurance is a good idea. But even if you aren’t, if a plan will make you feel better, it might be worth the dough.

Before ever deciding on a plan, shop around, read the fine print and thoroughly research the company to ensure you have the best deal.

Ready for Take-Off?

So is travel insurance right for you?

Regardless of your answer, we guarantee you might still be worried about costs. After all, traveling is expensive and it’s so hard to save money.

. . . Or is it?

Check out our seven hints for saving money to go towards that trip you’ve always dreamed about. It might take time, but anyone can have the vacation they deserve.

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