If you are a budget traveler like I am, you are looking anywhere and everywhere to cut costs on your trip. But I will tell you right now – spend the money on travel insurance! Sure, you’ll probably have nothing go wrong on your trip. But in the event that something does happen, you are going to really be glad that you had insurance. Here are a few reasons why:
1. If You Need To Cancel Your Trip
Life has a way of throwing unexpected circumstances at us, and it’s no different when we are going on a trip. If you get sick, a relatives passes away, or your boss says you actually need to come into work? Or better yet: what if your flight gets cancelled or delayed? You want to rest assured that you won’t lose your money if in the event one of these things happens.
2. If Your Baggage Gets Delayed or Damaged
I am very thankful that this has not happened to me *yet*, but I’m not going to risk that it never will! It’s not that uncommon that bags get lost and we all know that our bags aren’t always handled gently. It sucks enough to have your baggage lost, but it would be even worse if you had to buy all new clothes, too! Travel insurance will usually reimburse up to $500 for delayed bags and up to the policy limit for lost bags.
3. If You Get Sick or Injured
This is especially important if you will be doing any activities like hiking, zip-lining, skiing, horseback riding, etc or if you’re traveling to a country with poorer food and water quality. If you end up having to go to a doctor or hospital and don’t have insurance, your medical costs could add up to thousands (or even tens of thousands) of dollars! Don’t be that guy.
4. If Your Electronics Get Lost or Stolen
If you are traveling with photography or video gear or even just a laptop, insurance on these items is a must. Your home owners insurance may cover these things already, but if you’re a budget traveler you probably don’t own a home to begin with (guilty). Even though I already have personal property insurance, I want this coverage incase I reach my policy limit in the event all of my gear gets stolen.
5. If You Can Afford To Travel, You Can Afford Insurance
So how much does travel insurance cost, anyway? For a $3,500 trip, it will probably cost around $150. So the good news is that insurance is definitely affordable when you consider all that you are being covered for.
So if you don’t already, I hope I’ve convinced you to start adding travel insurance to your overall budget next time you go on a big trip! As the saying goes… you may never need it, but you’ll sure be glad you had it!
So who should you go with? I recommend World Nomads, who I will be using for my upcoming month-long Europe trip!
When has travel insurance come in handy for you, or caused you trouble when you didn’t have it? Leave some stories in the comments below!