SAN DIEGO (KGTV) — The holiday travel season is approaching, and before you book that flight or pay for that cruise, experts say now is the time to look into travel insurance.
In the coming months, airports will be packed with travelers heading to their holiday destinations. But travel insurance could provide crucial protection for your vacation investment.
"When it comes to trip insurance, there's really no one size fits all policy. It's all catered to the cost of the vacation, the age of the people who are traveling, the destinations that you plan on traveling," said Doug Shoup, spokesperson for the Auto Club of California.
Shoup says most travel insurance covers the basics, including trip cancellations for certain reasons, coverage if your trip has to be cut short, lost or delayed luggage, unforeseen medical expenses while traveling, travel delays for specific reasons, and emergency transportation to a medical facility while away.
"Like trip cancellations for certain reasons, not for every reason, but for specific reasons. It can cover you if your trip has to be cut short. It can cover lost luggage or delayed luggage. It can also cover unforeseen medical expenses while you're traveling. As well as travel delays for again specific reasons. It can also cover emergency transportation to a medical facility while you're away," Shoup said.
However, travel insurance doesn't cover everything. It typically excludes medical bills connected to a person's pre-existing condition, weather-related cancellations, or damages or injuries from high-risk excursions. That's why it's important to read the fine print.
Cost considerations
According to Experian.com, the average cost of travel insurance ranges from 4% to 8% of the trip's cost. The price can be affected by factors including a person's age, the type of policy, the length of the trip, and how much you're insuring.
For a family of four, the average cost of travel insurance is $200 to over $500, depending on the type of coverage.
"Trip insurance can just give you that piece of mind protecting your investment into that bucket list vacation or those luxury destinations that you plan to see," Shoup said.
How to purchase travel insurance
Travel insurance can be purchased directly from an insurance company, through a travel agent, or by checking with your credit card company. Some premium travel cards offer some form of travel protection in case your flight is delayed or canceled, your rental car is damaged, or your luggage is lost.
Be sure to check with insurance companies about discounted rates for multiple trips, as some offer coverage for a whole year.
Travel experts recommend buying travel insurance within 2 weeks of paying a deposit for a cruise, flight or hotel.
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