The Most Common Mistakes People Make When Buying Travel Insurance

There are times when traveling doesn’t go as planned. Many people are trying to minimize the challenges of altered travel plans as the pandemic continues to disrupt vacations. It seems that the pandemic prompted more Americans to buy travel insurance.

Because so many novices are purchasing travel insurance, they are vulnerable to making mistakes. Experts share what they think are the most common errors people make when buying travel insurance.

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Buying It Too Late

Megan Moncrief, chief marketing officer of travel insurance, said, “Travel insurance is designed to cover unforeseen, unexpected occurrences. So it’s important to buy a policy before an event happens that could impact your trip.” She mentioned that you might be worried about hurricanes if you booked a Caribbean cruise in September. Buying travel insurance early will increase your protection.

Avoiding Credit Card Benefits

Andrea Woroch, money, and budgeting expert, said, “The biggest mistake is buying insurance that you don’t need or overbuying coverage.” Many people don’t realize their car insurance policy or credit card covers rental cars. Find out if your credit card offers travel insurance. This card provides those benefits when you book a trip, so you don’t need to buy travel insurance separately.

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Choosing The Wrong Insurance Policy

It is not appropriate to purchase every type of travel insurance policy. Moncrief said, “The type of coverage travelers need depends on the specific concerns they have about their trip.” It takes some reflection and research to purchase travel insurance. Check your coverage needs before you pay a premium, and ask a professional if you are still unsure.

Misunderstandings About Claims

Moncrief said, “People are making fewer mistakes when buying a plan today than when using it, specifically when filing a claim. Travel insurance is designed to make a traveler whole, reimbursing for unplanned expenses incurred throughout their trip.” Vendors, such as airlines, sometimes offer vouchers or credits to travelers who experience issues during their trip. It can, however, complicate matters.