Travel Insurance. Up for a vote?
May 30th, 2013, 07:55 PM
#1
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Travel Insurance. Up for a vote?
I have been looking into travel insurance and am wondering how any of you approach the decision to buy or not to buy. Our credit card (venture) covers lost luggage and death/dismemberment on a common carrier, and our health insurance has quite good coverage (not evacuation, but emergency and even some non-emergency). The gap comes in canceled flights--if we are ill or somehow unable to fly, that is where we would feel the loss. We have never gotten insurance before, but our tickets have never cost quite so much before, either 
.
To buy or not to buy . . . that is the question. (cheesy, but who can resist? I am going to England after all!)
.To buy or not to buy . . . that is the question. (cheesy, but who can resist? I am going to England after all!)
May 30th, 2013, 08:22 PM
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Until I reached Medicare age, I never bought trip insurance b/c I had good overseas coverage through my employment. That being said, I never took a trip where tons of $$ was pre-paid and therefore lost if I had to cancel at last minute. Regardless of age, I would buy travel insurance if I would lose air fare, money pre-paid for a tour, etc.
May 30th, 2013, 10:14 PM
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This question crops up from time to time round here. It must be that attitudes to risk are quite different in the US compared with elsewhere, or maybe its the additional bells and whistles you get with your credit cards.
No British traveller would contemplate travelling overseas without travel insurance. Our annual policy costs a little over £100 and covers us for an unlimited number of trips up to 50 days duration anywhere. Things can and do go wrong, and I've made successful claims in the past for trip cancellation, curtailment and delayed departure - all of which were due to unforeseen circumstances. It would have lost a great deal of money otherwise.
No British traveller would contemplate travelling overseas without travel insurance. Our annual policy costs a little over £100 and covers us for an unlimited number of trips up to 50 days duration anywhere. Things can and do go wrong, and I've made successful claims in the past for trip cancellation, curtailment and delayed departure - all of which were due to unforeseen circumstances. It would have lost a great deal of money otherwise.
May 31st, 2013, 04:03 AM
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<i>It must be that attitudes to risk are quite different in the US compared with elsewhere...</i>
Most people from the US who can afford to travel overseas already have health insurance, and I believe that accounts for much of the difference in attitude. I have to pay up front for my private health care in the UK, then claim back from my US health insurance company, so consider that when making your decision.
If you do buy travel insurance, make sure you declare all preexisting health conditions. That may bump up the premiums, but failure to do so could invalidate a claim for cancelled flights due to illness. Get some quotes, then you can decide if it is worth paying for travel insurance.
Most people from the US who can afford to travel overseas already have health insurance, and I believe that accounts for much of the difference in attitude. I have to pay up front for my private health care in the UK, then claim back from my US health insurance company, so consider that when making your decision.
If you do buy travel insurance, make sure you declare all preexisting health conditions. That may bump up the premiums, but failure to do so could invalidate a claim for cancelled flights due to illness. Get some quotes, then you can decide if it is worth paying for travel insurance.
May 31st, 2013, 05:50 AM
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For us (in the US), it depends on how much we have pre-paid for a trip. If, for example, we're renting an apartment that requires all of the money up front vs. 50% on arrival, then I'll usually take out travel insurance. Same decision-making on airfare--depends on how much we're spending. And we have very good health insurance, so that isn't a factor.
May 31st, 2013, 06:38 AM
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This trip (current) is the first time I've purchased travel insurance (and I've traveled a lot and also lived in Europe for some years). But I'm on my own, in Europe for two months and getting on, so decided to buy American Express's cheapest package--$69 as I remember.
In the Paris Metro a handrail collapsed as I was walking up to platform; had a huge hematoma, black eye, sore back and neck and bruises everywhere, as I fell down six steps with luggage on top of me. Went to a Paris hospital where I had a Cat Scan (usually about $2,000 where I live (New York)). Haven't gotten the bill yet but AE wrote to assure me I'm covered.
Of course, the Metro should be paying but I've had no satisfaction from them to date. So, if it's not too much, buy the insurance. One never knows when one will be attacked by a handrail!
In the Paris Metro a handrail collapsed as I was walking up to platform; had a huge hematoma, black eye, sore back and neck and bruises everywhere, as I fell down six steps with luggage on top of me. Went to a Paris hospital where I had a Cat Scan (usually about $2,000 where I live (New York)). Haven't gotten the bill yet but AE wrote to assure me I'm covered.
Of course, the Metro should be paying but I've had no satisfaction from them to date. So, if it's not too much, buy the insurance. One never knows when one will be attacked by a handrail!
May 31st, 2013, 06:47 AM
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Years ago in college in a "personal finance" class, the professor said - you don't need to buy insurance for any contingency that you could cover yourself. So that has pretty much been the rule of thumb that we have gone by. We do not purchase appliance repair plans but of course car, medical, home insurance are a must. But travel does keep getting more and more expensive, esp. a tour or cruise that needs to be pre-paid and is non-refundable.
May 31st, 2013, 07:02 AM
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" It must be that attitudes to risk are quite different in the US compared with elsewhere"
I suspect it's more to do with the nature of risk (though I've yet to find a UK policy offering a year's global cover for £100 - or at any rate one that covered enough to handle a heart attack in the US, or skiing).
Britons just travel abroad a great deal more than almost anyone else on earth (a dozen weekends a year in Prague and its near clones means more risks of cancelled flights while abroad than most Americans face in a lifetime), and most of those trips are to places where most medical treatment is free with an EHIC card. So many of us see renewing the insurance (at least the "Europe and Mediterranean only" one) as as big a no brainer, and as trivial a cost, as renewing the Royal Academy Friends membership.
Caution to fellow Brits, though. I got chatting to a chap who DID get a stroke while in the US. By extraordinary fluke, he remembered to upgrade his cover a day before leaving, and could pass the ~$1 mn bill onto Amex or whoever.
He claims to have suffered more stress from flashbacks about how close he came to not being adequately covered than from the stroke itself.
I suspect it's more to do with the nature of risk (though I've yet to find a UK policy offering a year's global cover for £100 - or at any rate one that covered enough to handle a heart attack in the US, or skiing).
Britons just travel abroad a great deal more than almost anyone else on earth (a dozen weekends a year in Prague and its near clones means more risks of cancelled flights while abroad than most Americans face in a lifetime), and most of those trips are to places where most medical treatment is free with an EHIC card. So many of us see renewing the insurance (at least the "Europe and Mediterranean only" one) as as big a no brainer, and as trivial a cost, as renewing the Royal Academy Friends membership.
Caution to fellow Brits, though. I got chatting to a chap who DID get a stroke while in the US. By extraordinary fluke, he remembered to upgrade his cover a day before leaving, and could pass the ~$1 mn bill onto Amex or whoever.
He claims to have suffered more stress from flashbacks about how close he came to not being adequately covered than from the stroke itself.
May 31st, 2013, 07:13 AM
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I hardly ever buy travel insurance. The exceptions have been: 1) cruises and 2) a South Africa safari. We purchased travel insurance for these due to the large amount of non-refundable costs and the possible need for medical evacuation from a foreign destination/remote area. (In fact, the safari company required proof of travel insurance for medical evacuations.)
May 31st, 2013, 07:20 AM
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I have never bought insurance to cover trip expenses themselves. This is because I have never taken a trip with a lot of pre-paid expenses that I couldn't get refunded. Airline tickets are the biggest thing and I am totally fine with having an airline credit if I have to cancel - I will use it up no problem.
However, I always buy a travel medical policy when going out of the country.
However, I always buy a travel medical policy when going out of the country.
May 31st, 2013, 08:40 AM
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I do buy trip insurance, but mainly for the medical coverage. Our medical insurance does not cover us outside of the US, so this is key for us. For the medical, you can pay a bit more and more it primary as well. Also, I always purchase it right when we get airline tickets. We are only in our 40's and have no medical issues, but I learned a few years ago that you just never know. I took a tumble down a bunch of stairs at Versaille and ended up with knee surgery due to that. I did not seek medical help there as I knew a great knee surgeon here at home, so waited it out, but it was peace of mind knowing that if I couldn't suck up the pain during the trip that I was totally covered.
We don't pay much upfront for travel costs, so the trip insurance part that we get is minimal.
We don't pay much upfront for travel costs, so the trip insurance part that we get is minimal.
May 31st, 2013, 09:24 AM
#14
Any airline ticket can usually be insured through the airline. Mine offers insurance coverage every time I purchase a ticket both domestic and international.
Because we have one member of the family who has the very real possibility of needing medical evacuation home I always take that into consideration when deciding whether or not to take out additional insurance.
MMS, you are fortunate that your "waiting it out" didn't cause additional complications and happy it turned out well for you.
Frankly I feel the cost of additional insurance and the peace of mind it brings is worth it now that I no longer have to share bathrooms or stay in hostels but to each their own.
Because we have one member of the family who has the very real possibility of needing medical evacuation home I always take that into consideration when deciding whether or not to take out additional insurance.
MMS, you are fortunate that your "waiting it out" didn't cause additional complications and happy it turned out well for you.
Frankly I feel the cost of additional insurance and the peace of mind it brings is worth it now that I no longer have to share bathrooms or stay in hostels but to each their own.
May 31st, 2013, 10:40 AM
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Dukey--Trust me, if I was any worse I would have sought medical attention. The pharmacist gave me good drugs, so that got me though that part. I sent DH a note and he got me an appt with the ortho as soon as I got home. But that peace of mind with the insurance was huge!!!!!
May 31st, 2013, 01:00 PM
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I always buy trip insurance. It certainly came in handy when the volcano erupted the very same week I was supposed to go to France (on a trip already fully paid for). I just feel better knowing if I or a family member becomes ill or there is a weather disaster, I am covered. I also know someone that needed a medical flight after a serious injury and it cost them a fortune to get out of the country they were in. I worry enough already!
May 31st, 2013, 01:56 PM
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As we learned in December 2010, having a good trip-insurance policy can reap huge rewards in the case of luggage delay and loss. Our agency dealt with Air France so we didn't have to call and call and ultimately arranged for the safe, if late, delivery of our luggage.
May 31st, 2013, 03:31 PM
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You have all given me (and hopefully others with the same question!) food for thought. I didn't do an official count,but the vote seems to be that a majority are in favor of the travel insurance.
As all our hotels are refundable--love booking.com--it is only our 2 journeys on trains and our flights that are our particular issues. Our airline will give a credit and waives the fee for flight change with major illness or bereavement, and the change fee for other cancellations would be $250--about double what the insurance is for us on insuremytrip.com.
With the question spinning in my head, I can see the benefit to my state of mind to go ahead with it.
As all our hotels are refundable--love booking.com--it is only our 2 journeys on trains and our flights that are our particular issues. Our airline will give a credit and waives the fee for flight change with major illness or bereavement, and the change fee for other cancellations would be $250--about double what the insurance is for us on insuremytrip.com.
With the question spinning in my head, I can see the benefit to my state of mind to go ahead with it.
