Pro Tips: 4 Reasons Why Travel Insurance Is a Must for Expensive Trips
If the research (and USA Today) is accurate, when people travel widely again after the pandemic, they’re going to be taking bigger, more expensive trips. There’s even some research that suggests some people were spending significantly more on travel in the middle of the pandemic.
And all of that makes a great case for buying travel insurance for your upcoming trips – especially those trips with thousands of dollars of insurable trip costs.
If you’re one of the many travelers who plan to spend more on travel, and are considering some expensive trips, here are four reasons why travel insurance is a must-have.
Also read: How Much Does Travel Insurance Cost?
It just covers more
Bigger trips mean more prepaid expenses – and travel insurance is made to cover prepaid travel expenses in case you need to cancel your trip for a covered reason. Whether that means prepaid flights, hotel rooms, excursions, or theme-park tickets, prepaid expenses are what you want to help protect with travel insurance.
Pro tip: To get the most out of coverage for prepaid travel expenses, look at a travel insurance plan’s trip interruption and trip cancellation benefits. Not only are you looking for a higher maximum amount of coverage, you want everything paid at a minimum of 100% of the insured trip cost for trip cancellation and 125% for trip interruption. Generali’s Premium plan covers 100% for Trip Cancellation and 175% for Trip Interruption, if you have to cancel or interrupt your trip for a covered reason – going above and beyond when you really need it.
Luggage benefits are more robust
Bigger trips generally also mean packing more – and packing more expensive stuff. That makes a case for travel insurance with a higher luggage/baggage benefit.
With luggage coverage, it’s important to read your policy and understand what’s covered – and perhaps more importantly, what’s not covered. Luggage coverage has many exclusions and limitations, and by understanding those you can take steps to help protect everything you take with you.
It’s also good to know whether your plan has special coverage for equipment like skis.
In general with longer trips, it’s always a good idea to go for the biggest luggage benefit you can afford – like the $2,000 Baggage coverage found in Generali’s Premium plan.
Pro tip: Generally electronics and jewelry are the most expensive items you take with you on vacation. To best help protect them from loss and theft, ask your insurance agent about adding them to your homeowner’s policy via a rider.
Medical and evacuation coverage are more important
Often, more expensive trips take travelers to more exotic locales. These destinations are beautiful, but they can also be dangerous. And in case of a medical emergency, they can present a logistical nightmare for medical evacuation crews.
One thing about logistical nightmares for evacuation crews: They’re not cheap for the patient. Half-a-million-dollar evacuations are not unheard of.
If your travels take you to far-off lands, it pays to choose travel insurance with the highest maximums for medical coverage and medical evacuation. In the case of Generali’s Premium plan, that’s $250,000 for Medical and Dental coverage and up to $1 million for Emergency Assistance and Transportation.
Pro tip: Research the medical facilities at your destination(s) before you leave, and buy coverage according to their quality and accessibility.
Travel assistance can really help
Expensive trips can have lots of moving parts – and if one connection is missed or one train breaks down, everything else can be affected.
In times like those, it pays to have people on your side – like the highly trained people at Generali that provide travel assistance to our customers. There isn’t much they haven’t seen, and their job is to help you work out your trip troubles.
Round-the-clock, worldwide travel assistance comes with every Generali plan. It’s like having a concierge constantly at your disposal. And when you’re taking an expensive trip, isn’t that exactly what you want?
Go ahead – take that trip of a lifetime. Get a Generali quote today.