Is Travel Insurance Worth It? What To Consider In 2022

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Travel planning is complicated.

Between finding flight or train routes, arranging accommodations, locating someone to watch your pets and water your plants and all the other 10,000 details that go into business and pleasure trips, it’s a wonder anyone goes anywhere at all.

And considering the constant threat of flight cancellations, your trip might end before it ever begins.

But one question that pops up a lot during trip planning is whether or not to purchase travel insurance.

The answer depends, in part, on whether your trip is refundable, where you’re going and whether you’ll have health coverage at your destination.

Is Travel Insurance Worth It?

On the one hand, it’s difficult to put a price tag on the peace of mind that comes with knowing you’ll get some or all of your money back if your travel plans go awry.

On the other hand, travel insurance does come with an actual price tag — and an expensive one at that.

So is travel insurance a must-have or is it worth the risk to pass up?

Here’s how to tell whether it’s worth it to buy travel insurance for your next trip.

Types of Travel Insurance

Travel insurance covers a number of risks. Some you may have thought of, such as flight cancellations and lost bags. But it can also cover less-obvious scenarios, such as medical and evacuation expenses.

Before we dive into cost, let’s take a look at the most common options you can buy individually or as part of a comprehensive plan.

Delayed or Lost Baggage

Luggage insurance won’t get your bags back to you any faster, but it will reimburse you for the money you spend buying replacement clothing, toiletries and medication.

Accidental Death

No one wants to think about something tragic happening while traveling, but unexpected events can occur. Accidental death insurance is similar to a life insurance policy and pays out benefits to your designated beneficiary.

Trip Cancellation or Interruption

Trip cancellation insurance, also known as…

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