Travelers look to their agent to help them get the best deals and experiences for a great price. One detail a travel agent should never skimp on is protecting your trip with an insurance plan. Below are three ways travel insurance can help cost-conscious consumers stay on budget while avoiding any large, unexpected financial burdens.
1. Budget for Planned Expenses—Not Surprises
Most customers can carve out 5-10% of their travel budget to protect their investment, but the cost of a last-minute international flight to return home to care for a sick family member? That might break the bank. Trip insurance minimizes risk to you, giving you peace of mind that an unforeseen event or emergency won’t create a financial hardship.
Take it from one of our customers who booked a vacation to Europe: “Just before that trip my husband fell, severed his quad, and required surgery. We had insurance and recovered all the money we had spent on that trip. We will never travel without insurance.”
2. Avoid Devastating Medical Bills
It’s important to know that most U.S. health insurance plans and Medicaid won’t cover medical expenses abroad, which includes cruises. An emergency medical evacuation could cost anywhere from $10,000 to $100,000 or more out of pocket, depending on the location. Travel insurance can foot this bill, as well as a customer’s treatment costs for an injury, ambulance ride or hospitalization resulting from a covered medical emergency, for which many hospitals abroad otherwise often require up-front payments.
For the budget traveler going outside the U.S., it’s not worth the risk to their financial wellbeing or health to leave home without trip protection. The right emergency medical benefits can help prevent you from taking on massive credit card debt or wiping out their retirement savings to pay for costly medical bills.
3. Protect Your Vacation Savings
Some customers might be saving for months or years to afford a special family vacation, and of course they get emotionally invested in it. If at the last minute, an unexpected illness, injury or job loss causes them to cancel their plans, it doesn’t have to be a major loss. Recommending travel insurance can ensure you don’t lose out on your financial investment if you must cancel for a covered reason—which makes the travel agent the hero. Trip cancellation reimbursement is the most popular insurance benefit customers use to safeguard their vacation savings, so they can reschedule when they’re able to travel again.
Another customer put it this way: “Price is right for the comfort of knowing you are covered in the unlikely event something happens and you have to cancel. My husband lost his job and without this coverage, we would have been in a real financial bind.”
So the next time a customer declines travel insurance, either due to cost or doubting whether it’s worth it, I remind them how it could save them a lot of money—and literally their vacation—if they purchase this travel essential.