Travel Insurance: Pros, Cons, and What You Need to Know

U.S. & World

Travel insurance may not cover everything you think it does.

Kim Gormon planned a dream family vacation to Italy. Days before, her father had heart trouble and had to cancel. She says travel insurance saved her $3,600.

“It’s wonderful,” Gormon said. “I would not travel without travel insurance.”

Bonnie Solberg bought insurance for a trip to North Dakota. When her husband was injured on the trip, eventually passing away, she was stuck with $28,000 in bills. Those included an air ambulance and hotel expenses. 

“The travel insurance basically didn’t cover anything that I anticipated,” Solberg said.

Turns out, many policies don’t cover medical evacuations.

So what does insurance typically cover?

-Canceled flights
-Lost bags
-Cancellations due to illness or bad weather

It often costs four to eight percent of your total trip. That means, if your vacation costs five grand, travel insurance could run $200 to $400.

Experts say it can be worth it for those expensive dream vacations. They say you should read the fine print, and not jump on the first insurance pitch that pops up when you book.

“I’d always recommend buying it separately because you want to have an advocate working on your behalf if there is a problem with the cruise or flight provider,” says travel expert Mark Ellwood.

So how can you shop around?

Sites like and offer quotes from multiple companies. 

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


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