Updated: Jun 27, 2020
Why you need to consider travel insurance
I’ll confess as much as I travel I’ve never purchased separate travel insurance. Typically I rely on my credit cards to cover me. When I think of some the close calls like... the time in Bali when we almost fell over a cliff during an atv ride from hell.. or the time in Australia when we were doing a pretty hazardous mountain nature walk in a country that has its fair share of killer creatures. We survived and all is well but this morning I woke up with the pressing need to get insurance. Probably spurred by a conversation yesterday with a coworker who told me about a guy who fell during vacation and had a life threatening concussion. He had a Go Fund Me created on his behalf to help with $300000 worth of expenses to have him transported home. That and the fact it’s been on my consideration list forever. And because I know I’d be in trouble if I had to depend on you guys to bring me back home via a Go Fund campaign.
Because of the consequences of trip delays or accidents incurred during a trip its important to protect yourself. I have pretty decent coverage with my American Express Platinum and Chase Reserve credit card. The Chase Sapphire Reserve credit card has actually save me a couple of thousands during our family Disney World Trip. Our return home was delayed several days due to an hurricane. Our hotel and food expense were 100% taken care of giving us a much needed extended vacation. The American Express Platinum card offers similar coverage but its biggest flaw is the auto rental coverage outside of the US can be limited for some countries like New Zealand. So with great credit card protection why should you consider getting additional coverage? You may still want to consider travel insurance for the following:
Emergency Medical Attention & Transportation
Change Fee Coverage
Emergency coverage alone can set you back significantly. The cost to send a deceased person back to their home country can run you over $15,000. The Annual Travel Insurance - Wander® Frequent Traveler with Seven Corners covers up to a million dollars on medical expenses and evacuation. The cost was $300 for a years worth of travel for my whole family of four. It only provided $5000 of Trip interruption coverage and no cancellation coverage which was okay with me because I have really good coverage under the Chase Ink business.
Do your own research. If you take more than two international trips a year I would highly consider an annual plan otherwise consider buying an individual trip policy. Stay safe and protect yourself! You don’t need to be an adventurer like me to need protection. Stuff happens just walking down the street. You don’t want the financial stress on you or your family when dealing with a serious issue. Any travel insurance recommendations?