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Travel Insurance: An expense or an investment?

Flight itineraryThe real cost of flying can be quite shocking when you sit down to consider all of the extra costs that go along with your air fare. Between booking fees, extra baggage fees and having to pay for in-flight snacks, pillow and blankets, the costs can really add up.

While some costs seem like a waste of money (was the one-hour usage of that flimsy airline blanket
really worth $7?), there are some that are well worth the investment. One expense that really pays off is travel insurance, which, for just a small amount, can cover unexpected expenses you might have on your trip.

Many consumers skip this option because they view it as just another fee. However, before you make the choice to skip travel insurance on your next trip, consider the following benefits.

Recoup cancelled flight expenses

Most airlines will charge you a fee if you have to reschedule your flight after you pay for your initial reservation. The fee that goes with this service typically will run you about $150. And, on top of that, you have to rebook your flight within 12 months of the original date or you will lose your airline credit. This is a big fee to have to pay simply because you fell ill right before your trip.

Travel insurance often waive these fees so you are able to reschedule your flight without having to shell out extra dollars.

Recoup missed hotel stay expenses

Many hotels now require an advanced notification of cancelled reservations. This means that if you miss your flight and are stuck in an airport, you will have to pay a fee or pay for the room when you don’t get to take advantage of the accommodations.

Travel insurance often will take care of these fees so you don’t have to become even more disgruntled by vacation mishaps.

Recoup other non-refundable vacation expenses

Airfare and hotel reservations aren’t the only “non-refundable” expenses that you can encounter on vacations. Often, if you pay for amusement park, museum or zoo/aquarium tickets in advance, you are unable to exchange unused tickets for a refund. These attractions can cost quite a bit, especially when you have an entire family that you have purchased tickets for.

Thankfully, many travel insurance policies will refund consumers for these and other non-refundable vacation expenses. This will help you get back most of the money that you have invested in your vacation so you aren’t out a bunch of money and are able to afford to rebook your trip for a later time.


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A chance to travel specially in abroad is a wonderful gift, that's why if I have a chance too, my first destination country is the beautiful land of Barcelona, Spain.

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I would like to view it as a necessary expense for the sake of investing on something fragile such as health.

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It is definitely an investment wherein you are investing in secured terms for your health and potential medical bill for footing. It is also an expense, but worth it.

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I guess your decision on whether or not you should get this will be based on how well you planned for your trip. If you feel that things are a bit shaky, then you probably should.

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