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Travel Insurance

Posted by on February 17, 2010

It seems my clients are divided into separate camps when it comes to trip insurance. They either ask me about it before I even mention it, they consider it carefully, or decline firmly when I offer. However, I want clients to realize that they’ve made an investment and it should be protected.

I have to admit, at first glance travel insurance can seem unnecessary or expensive. Many of my clients will say they don’t care if they break their leg – they’re going to lay on the beach with their cast and drink Dos Equis.

I’ll give you three real world examples of the benefits of travel insurance:

  • A family of four recently booked a four day cruise totaling just over $3000. Unfortunately, the young father developed heart problems requiring surgery and the trip had to be canceled. Because children are covered for free under their parent’s plan, my clients were able to protect their trip for $58 and received a full refund. If they had not purchased travel protection, they would have lost over $2250 due to stiff cancellation penalties.
  • A group of women recently booked a five day girlfriend’s getaway to Vegas for $339 per person. Each of these clients has small children at home. A travel insurance plan of $21 per person allows them to cancel, change, or interrupt their trip if one of their children become sick or injured.
  • I arranged a Caribbean cruise for a honeymoon couple totaling $3600. They purchased trip insurance for $100 because the bride’s grandmother was not well and she was concerned she may have to cancel the trip at the last minute. Grandma was fine and the cruise went off as planned. However, their return flight connected in Minneapolis, which was in the midst of a huge thunderstorm. Their flight from Minneapolis to Des Moines was canceled and the airline refused to provide any compensation because the flight cancellation was due to an act of God. Because my clients had purchased travel insurance, they were reimbursed for their hotel, food, and cab ride in Minneapolis that evening.

You have invested a significant amount of money, time, and effort in planning your vacation. As you can see, travel insurance is not outrageously expensive, nor is it just for older travelers.

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