Why Travelers Need to Consider Investing in Travel Insurance
Devastating Hurricanes Remind Us of the Importance of Protecting Travel Investments
Two devastating hurricanes lately have pummeled the Southeast with high winds and heavy rainfall, serving as a stark reminder of the importance of protecting travelers’ investments with a solid insurance plan.
The Benefits of Invested in Travel Insurance
Unlike auto, renters, and other insurance, Americans are not required to invest in travel insurance. However, the benefits can be substantial. Travelers can secure a reassuring travel insurance policy for just a small percentage of their total trip cost. According to NerdWallet, the average cost of travel insurance in 2024 is between 6% and 7% of the total trip expenses.
Why Not to Wait for a Troubling Forecast
Still, tropical storms and hurricanes are highly unpredictable, and it is never wise to wait until a troubling forecast to pay for protection. It’s often too late after a storm has been named or identified. Instead, travelers can purchase a Cancel for Any Reason (CFAR) policy, which will provide added flexibility in the event of trip cancellations or disruptions.
The Value of Travel Insurance
The only thing worse than missing out on a dream vacation or having it impacted is having to foot the bill for an underwhelming experience. That’s where travel insurance comes in, quickly reimbursing travelers for those expenses so they can plan for the next getaway without worry.
Finding the Right Travel Insurance Provider
If you’re unsure where to begin, consider reputable and award-winning travel insurance providers that are constantly evolving, launching new tools to make purchasing the right policy, filing claims, and more, even easier.
Quote from an Expert
"If you’re planning a getaway this year, we recommend adding a travel insurance plan to your packing list," said Daniel Durazo, director of external communications at Allianz Partners USA. "Whether it’s a flight delay or lost luggage, a travel insurance policy may reimburse you for covered losses associated with a covered travel delay or baggage loss that could otherwise spoil a cherished trip."
Conclusion
In light of recent devastating hurricanes, it is crucial for travelers to remember the importance of protecting their travel investments with a solid insurance plan. By investing in a travel insurance policy, travelers can enjoy their vacations with peace of mind, knowing that they are prepared for any unexpected events that may arise.
Frequently Asked Questions
Q: What is the average cost of travel insurance in 2024?
A: 6-7% of the total trip expenses, according to NerdWallet.
Q: Why is it important to purchase travel insurance before a storm is named or identified?
A: Because tropical storms and hurricanes are highly unpredictable, and it’s often too late after a storm has been named.
Q: What is a Cancel for Any Reason (CFAR) policy?
A: A policy that provides added flexibility in the event of trip cancellations or disruptions.
Q: Who should I consider for travel insurance?
A: Reputable and award-winning travel insurance providers that are constantly evolving, launching new tools to make purchasing the right policy, filing claims, and more, even easier.
