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Re: Why should buy travel insurance?
[Re: mutuzadawson]
#69368
09/28/2015 08:15 AM
09/28/2015 08:15 AM
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Joined: Oct 2000
Posts: 12,460 île staten
Bobcat
Traveler
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Traveler
Joined: Oct 2000
Posts: 12,460
île staten
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Insuremytrip ================== Many plans - many options - illness, weather, loss of property, other factors...go over the fine print carefully before you purchase....
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Re: Why should buy travel insurance?
[Re: RickinAtlanta]
#69370
10/06/2015 06:59 AM
10/06/2015 06:59 AM
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Joined: Oct 2000
Posts: 1,923 Annapolis
Eva
Traveler
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Traveler
Joined: Oct 2000
Posts: 1,923
Annapolis
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In addition to costs you can't recover, there are the costs you might incur if you are stuck somewhere you didn't plan on. Many trip costs are refundable if something like a hurricane messes up your trip, but if you have to stay someplace other than home longer than expected, you're on your own. Most of my claims have been for hotels/meals/car rental when I've been stuck en route due to my home airport being closed due to something like a blizzard.
I've got a Caribbean Soul I can barely control... (JB)
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Re: Why should buy travel insurance?
[Re: mutuzadawson]
#69371
10/08/2015 07:16 AM
10/08/2015 07:16 AM
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Joined: Sep 2001
Posts: 5,884 St. Thomas, USVI
Nutmeg
Traveler
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Traveler
Joined: Sep 2001
Posts: 5,884
St. Thomas, USVI
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If you travel somewhere that has medical care that is not up to your standards, you will likely want to get someplace that does meet your standards. Here is an example, you are on a cruise ship and you have a neurological emergency. You are put off in a port that does not have a neurosurgeon. If you have medical evacuation insurance, you may be able to get the help you need. If you don't, and you don't have a $50,000 credit line, you may not get the help you need. It is pretty simple.
[color:"red"]NUTMEG[/color] Today is the tomorrow you talked about yesterday.
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Re: Why should buy travel insurance?
[Re: mutuzadawson]
#161940
05/28/2018 11:59 AM
05/28/2018 11:59 AM
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Joined: Mar 2006
Posts: 157 North Carolina
seeitall
Traveler
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Traveler
Joined: Mar 2006
Posts: 157
North Carolina
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Medical insurance, especially evacuation to a trusted facility, makes some sense to me. You have to understand the details about pre-existing conditions, though. I am going to take a different view of trip cancellation insurance. For an upcoming trip to Europe, my non-refundable expenses will be about $15,000 (one very expensive package, train tickets, prepaid hotels). A fairly basic insurance plan is $1k. So about 7% of the amount they would pay if I had to cancel. Obviously the insurance covers a bunch of extremely unlikely events but family illness is by far the most common. Is that a good value? I'm not so sure. The insurance company has actuaries that know selling insurance like that makes financial sense for them. If they are pretty much guaranteed to come out ahead in the long run, the chances are pretty good that most individuals won't. To me, insurance should cover expenses I cannot reasonably afford - that's where the medical evacuation coverage makes sense. If I can afford to spend $15k on a vacation, it would be very unfortunate if something happened and I lost that money, but I obviously have it to lose. Same principal as buying an extended warranty on my TV: in the unlikely event it breaks I can afford to replace it if I want to. Feel free to explain to me where I am wrong.
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