Travel insurance 101
Whether you're planning a dream safari, a multi-city honeymoon, or a trek through some of the world’s most dazzling mountains, one question always comes up: Should I get travel insurance? While we can’t make that decision for you, we’ll do our best here to help you understand what travel insurance is, what it can cover as well as different types of travel insurance, how much it should cost, and more .
Not sure where to start? We’ve got you covered. Here’s everything you need to know.
What does travel insurance cover?
A good trip insurance plan typically falls into three main buckets: your health, your trip, and your belongings. Here's a breakdown of what that includes.
Your health
Emergency medical expenses: Covers doctor visits, hospital stays, or urgent care abroad.
Emergency medical evacuation: Covers transportation to the nearest adequate medical facility, or repatriation to your home country if needed.
Your trip
Trip cancellations: Reimburses prepaid, non-refundable expenses if you have to cancel for a covered reason.
Trip interruptions: If you unexpectedly have to cut your trip short (or extend it) for a covered reason—like contracting Covid-19 or a family emergency—you're covered.
Pre-existing conditions: Some plans offer coverage if you need to interrupt your trip due to a known medical issue, as long as you meet certain criteria.
Travel delays: Helps cover costs like meals or hotels when flights are delayed beyond a certain time.
Non-medical evacuations: Covers evacuation due to political unrest or natural disasters.
Missed connections: Helps with the costs of catching up to your trip if a delay causes you to miss a leg of your journey.
Your belongings
Lost or damaged baggage: Replaces your belongings if your luggage is lost or damaged in transit.
Delayed baggage: Reimburses essentials like clothes and toiletries if your luggage takes too long to arrive.
Lost passports or credit cards: Some plans provide help replacing them, plus cover the costs involved.
Lost or damaged sports or professional equipment: Ideal if you're traveling with gear for skiing, diving, or photography.
Insurance add-ons
In addition to what travel insurance can typically cover, many insurers offer optional add-ons if you want more coverage, including:
Adventure and extreme sports: For those skiing off-piste, diving, long hiking trips (e.g. Everest base camp) or mountaineering.
Pet care: Covers vet visits and pet-related emergencies while you travel.
Rental car protection: Helps with repair costs if your rental car is damaged.
Vacation rental damage protection: Great for Airbnb or villa stays—covers accidental damage.
Cancel for any reason (CFAR): Offers partial reimbursement even if you cancel for something not typically covered.
Should I get travel insurance for my trip?
If you’re asking yourself, “Is it necessary to buy travel insurance?” here’s the honest answer: it depends on your risk tolerance and what kind of trip you’re taking.
Traveling internationally? Highly recommended.
Taking a once-in-a-lifetime trip with big upfront costs? Definitely consider it.
Planning an active or remote adventure? It’s a smart move.
Worried about Covid, unexpected family issues, or weather disruptions? Travel insurance can be a lifesaver.
We always recommend reading the fine print—and if you're unsure, we're happy to talk you through it.
What types of travel insurance are there?
Not all travel insurance is the same. There are many types of travel insurance out there for you to consider, with the most common types being:
Single-trip plans: Cover one specific trip.
Annual or multi-trip plans: Ideal for frequent travelers, covering all trips in a year.
Comprehensive plans: Bundle trip cancellation, medical, baggage, and more.
Travel medical insurance: Focuses on health-related coverage while abroad.
Cancel for any reason (CFAR): Lets you cancel your trip for any reason and still receive a partial refund.
How much should travel insurance cost?
You can typically expect to pay between 3–10% of your total trip cost. The cost depends on a few factors:
Trip cost and length: More expensive or longer trips will cost more to insure.
Traveler’s age: Older travelers often pay higher premiums.
Coverage level: The more comprehensive the plan (or the more add-ons), the higher the cost.
Destination: Medical costs, risk level, and local infrastructure matter—domestic trips usually cost less than international ones.
Where you live: Travel insurance is regulated by state in the U.S., so pricing and coverage vary.
Can I get travel insurance after booking?
Yes, you can—but earlier is better.
While you can get travel insurance after booking, buying it soon after your initial deposit gives you the most options. For example, many providers require you to purchase within 14–21 days of your initial payment to qualify for Cancel for Any Reason coverage or pre-existing condition waivers.
If my credit card offers travel insurance, should I still buy a separate travel insurance policy?
It depends on the coverage. Many premium travel cards (like the Chase Sapphire Reserve or Amex Platinum) offer trip insurance, but there are limitations.
Not all cards cover every aspect of your trip.
Most don’t cover pre-existing conditions or extreme sports.
Coverage limits are often lower.
You must book the trip using that card to activate coverage.
If you're traveling internationally, have complex trip logistics, or want maximum flexibility, we recommend comparing your card’s benefits with a full travel insurance policy.
Interested in getting a travel insurance quote?
Have more questions? Fill out your info below to get in touch, or get your quote directly from our partner, Faye Travel Insurance, directly.
