Is Travel Insurance Worth It? 3 Examples Where it Pays Off

trip planning materials to decide if travel insurance is worth it

Planning a vacation can be a stressful experience—making large purchases and coordinating schedules is just the beginning. A little peace of mind goes a long way. So, while travel insurance may not be the first item that comes to mind for your packing list, you should still ask yourself: “Is travel insurance worth it?”

Why do we recommend you spend your hard-earned vacation savings on something so “un-fun”? The simple answer: because things happen and they can happen to anyone.

About one in four Americans reported their travel plans during the previous year were impacted by unforeseen events that are often covered by trip insurance, including medical conditions, adverse weather or mechanical/carrier-caused problems.

U.S. Travel Insurance Association survey

Getting caught before or during a trip without insurance could be a costly mistake. Not only could you lose what you’ve already spent, but you could end up paying a lot more if things go wrong.

Take the guesswork out of problem-solving on vacation. Purchasing a plan could be the difference between knowing what to do and having to make a tough decision on your own; the difference between having travel insurance coverage and assistance services on your side vs. a heap of uncovered, out-of-network medical bills.

Is Travel Insurance Worth It?

Travel mishaps are quite common. No one wants to think about them when planning a trip, but relying on travel suppliers to “make things right” if something goes wrong might leave you in a bind. Planning for the unexpected allows you to relax and breathe easier on vacation knowing that in the event your trip takes an unplanned turn you'll have Generali on your side.

Here are a few common scenarios resulting from covered events where travel insurance can make all the difference:

Family of five taking a beach vacation: Tough decisions

It’s the day before a vacation and a quick trip to the doctor confirms your fear: your youngest kid has the flu. Being well prepared and savings-savvy, you purchased travel arrangements well in advance, including flights, a condo reservation, theme park passes and concert tickets—all of which are non-refundable.

You aren’t sure what to do—should some of the family try to take the trip anyway? That isn't very fun, and your youngest has been looking forward to their first visit to the family’s favorite theme park for months.

If you purchased travel insurance, it makes your tough decision a lot easier. Instead of worrying about trying to salvage the vacation in some way, you could cancel and file a claim for reimbursement for up to 100% of your insured trip costs, provided all coverage requirements are met—giving you the opportunity to reschedule your beach vacation for a time when everybody can take the trip and enjoy it as planned.

Read more about trip cancellation insurance

Single professional touring Europe: Unexpected itinerary changes

You started a multi-city, two-week trek through Western Europe when an unexpected storm cancels your flight out of JFK. Stuck in the states, you will have to wait and fly across the Atlantic the following day, missing a connecting flight in Dublin. Unsure when you’ll make it to Brussels, you also forfeit at least one night of lodging and you're now worried you might miss the tour group’s departure to Paris the next morning.

These types of unexpected delays are what travel insurance is designed for. If you purchased a plan, it can help in several ways, up to the benefit amount provided. Because your delay is six, eight, or ten hours or more, the plan provides coverage for dinner and an overnight hotel stay in New York—a weight off your shoulders while you call our 24/7 travel assistance team for help planning a new itinerary.

Your travel insurance can provide coverage for prepaid travel arrangements you'd have to forfeit, like the first night of lodging in Brussels and any missed tour days. And if it turns out you had to book a flight with another airline or purchase additional transportation to catch up to the tour in Paris, travel insurance can provide coverage for these costs as well. Having booked the long-anticipated tour on a budget, you are relieved and relaxed to have travel insurance on your side, since airlines aren’t obligated to cover any of these costs.

Read more about international travel insurance

Senior couple taking a cruise: International medical costs

You are enjoying a Caribbean cruise for your 45^th wedding anniversary when your wife takes a spill on the upper deck and injures her ankle. She receives medical assistance from the ship’s onboard physician, but the facility is limited so you will have to cut the trip short to seek more thorough care for the medical emergency. You contact our 24/7 assistance team who speaks with the onboard physician and arranges for your transportation to the nearest suitable medical facility that can adequately treat the injury.

In addition to assisting you and arranging for transportation to the nearest hospital, your travel insurance plan can also reimburse you for the missed cruise nights, overnight lodging, meals and local transportation during the delay. Once you can return home from the hospital, travel assistance can help arrange the flight back and insurance coverage can provide coverage for the cost to modify return tickets.

Without travel insurance, you would be navigating this difficult situation on your own, facing unfamiliar circumstances and international medical expenses that primary insurance is likely unable to cover. With our plan on your side, Generali Global Assistance is able to work with the cruise line on your behalf to help you get the treatment that you need.

More resources to help you decide “is travel insurance worth it?”: