Travel Insurance VS Trip Protection – What’s the Difference?

Before you book your next big trip, you’ll need to pick up some insurance or trip protection. What’s the difference between travel insurance and trip protection? Is one better than the other? Here’s everything you need to know about travel insurance vs trip protection to help you make the right choice before booking your flight!

The Benefits of Travel Insurance

From medical coverage to baggage loss, travel insurance will cover your basic needs for vacations. It’s a bit like buying car insurance; you know something might happen, but you hope it doesn’t. However, there are lots of things that could go wrong on a trip: from theft and injuries to canceled flights and weather delays, it’s always good to have a plan B in place if something does go wrong.

How Trip Protection Works

Most policies provide coverage for up to $10,000 in certain types of emergencies (usually those involving illness or injury). This type of insurance is typically known as cancellation protection or trip interruption protection. You should also review your policy to make sure it covers an inconvenience fee should you be forced to cancel your trip at a later date. Most travel protection plans are sold as add-ons when you purchase your airline ticket. Prices vary depending on how far in advance you buy them, but they’re generally inexpensive.

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When You Need Travel Insurance

As you prepare for your upcoming trip, it’s important to have all of your bases covered. One crucial aspect is getting travel insurance and trip protection in place. The good news is that no matter what type of traveler you are—be it leisure or business, domestic or international—there’s a plan that’s tailored to your needs. However, you don’t want to cut corners and come up short when things go awry; so how do you know which policy is right for you?

The Perks of Travel Insurance

You might be wondering what, exactly, you get with travel insurance. While there are multiple policies that offer benefits such as canceling flights or helping cover your bills in case of injury, they all have their own list of perks. For example, some will reimburse your lost luggage (or save you money if you choose to go without it), others help offset medical costs in case of injury or illness and others will give back a percentage of your trip cost for cancellations. The bottom line is that travel insurance gives you peace of mind by being there to help shoulder some costs should something unexpected happen while on vacation. However, not all plans are created equal, so read on before choosing a policy.

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Is It Really Worth It?

A $50 deductible on an insurance policy might seem like a small price to pay for peace of mind. But if you’re using travel insurance to cover baggage or cancellation fees, that can add up quickly. Will your stuff really cost $500 to replace, as travel insurance says it does? The answer is no! We found a nice Samsonite duffel bag for just $40 at Amazon. And, yes, there are more expensive duffels out there—but not too many that are cheaper than $50. If your duffel gets lost or stolen, there’s little reason to think you need travel insurance coverage (which usually costs around $15 a day)—because you’ll have already saved money by not paying that daily fee in addition to a hefty deductible.

Tips for Picking the Right One

When you’re preparing for a trip, it can be tempting to set it and forget it—simply pay your airline ticket and hotel bill, throw some clothes in a suitcase, grab your passport and hop on an airplane. The reality is that taking off for even a few days on vacation can be stressful. That’s where travel insurance comes in handy. It provides peace of mind by giving you financial protection from unanticipated travel mishaps, such as flight cancellations or lost luggage. But did you know there are also benefits that cover non-travel-related incidents as well? Similar to life insurance or renters insurance, travel insurance isn’t one-size-fits-all; there are plenty of factors to consider when buying coverage.

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From our above look at travel insurance vs trip protection, you can see that there is quite a lot of overlap. They both protect you against unexpected events and offer similar coverage, but differ on a few points. With these differences in mind, it may be best to purchase both if you are going on a big trip so that you have protection whether something goes wrong or not. You can get more details about each policy by visiting our Travel Insurance or Trip Protection guides.

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