A reader asks if she really needs travel insurance for her upcoming holiday trips and what she should look for in a policy.
Twice a week, our CEO and resident money guru Jean Chatzky tackles your burning questions in the HerMoney newsletter. We’ve pulled some of the best to feature on our website — and this one made the cut! Got a question for Jean? Send it her way right here.
Q: Today’s question comes from Megan. She writes: I have a couple of trips scheduled over the holidays. Given the headlines, I’m nervous about my plans changing. I’m considering getting travel insurance. As I search, what should I be looking for?
A: An estimated 82 million people are expected to travel this week for the Thanksgiving holiday – a record – and the holiday rush isn’t slowing down anytime soon. Even though things have mostly smoothed out after a recent wave of cancellations following the government shutdown, it’s totally normal to have jitters about your upcoming travels.
But here’s the big secret – you shouldn’t wait for worrisome headlines to think about travel insurance. “Regardless of what is happening, both domestic and international, I believe it’s always important to have travel insurance,” says Wendy Marley, a travel advisor with AAA Northeast. “There isn’t a ‘better time’ to make sure you have it, you should always have it – to protect your investment as well as yourself.”
In other words, travel insurance isn’t just for worst-case scenarios. The right policy can reimburse pre-paid costs, cover medical expenses abroad and even help when luggage decides to take its own vacation or your flight gets delayed.
So, how do you pick a policy without spiraling into a comparison-chart rabbit hole? Marley says to focus on two big pieces first – trip cancellation terms and coverage limits for emergency medical expenses. “I recommend a policy to my clients that covers them for a minimum of $50,000 in emergency medical expenses and $500,000 for emergency medical evacuation, depending on where they are traveling to in the world,” she explains.
She also suggests getting answers to these key questions:
- Is your medical coverage primary or secondary?
- Do they offer a 24/7 worldwide emergency assistance number?
- Are you covered for travel delay, trip interruption, and baggage?
- And most importantly, what are you personally most worried about? “Some policies give you more coverage for particular circumstances than others,” Marley adds.
If the hunt for the perfect plan feels overwhelming, don’t go it alone. A travel advisor can help match you with the right policy, or you can browse top-rated picks here.
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