Of all the many types of insurance available, one of the most affordable and most overlooked insurances is travel insurance. Per our friends at Wikipedia, "Travel insurance is insurance that is intended to cover medical expenses, financial default of travel suppliers, and other losses incurred while traveling, either within one's own country, or internationally." Fine, but how does travel insurance apply to you, and when would you want to purchase it?
I first heard about travel insurance in college, when two friends planned to go overseas together. I can't remember exactly why they cancelled their trip, but they were both ecstatic that they had purchased travel insurance and were refunded their deposits. At the time, I thought travel insurance was too expensive. My opinions have changed over the years, and now I think travel insurance is a good thing.
Which brings me to my current situation. My daughter has been selected to join a Girl Scout trip to India during the Christmas break this year. Fabulous, but very expensive. She's a child, we live overseas, who knows what in the heck could go wrong? So I'm investigating travel insurance.
I'm going through USAA, because friends have had great experiences with them. A few years back, our husbands' were unexpectedly unavailable during Spring Break, due to some excitement in North Africa. My friend called USAA's travel insurance company, explained the situation, and had her entire costs refunded quickly. Based upon her recommendation, I'm looking at USAA's travel insurance policy for my current needs.
The website itself, accessed via USAA, is easy to navigate. Enter your trip details and receive an insurance quote. You can select several different levels of coverage, and there are a few options that you can choose.
In my opinion, travel insurance is a great thing if a trip cancellation will cause you financial sadness. Quotes are free, so you can always price out the cost of coverage and make a smart decision for each individual trip. One more way to protect your purchases.