The One Thing Frequent Travelers Should Buy Every Year

Travel insurance covers you when something happens while you're traveling, such as canceled flights (hotel coverage), medical emergencies, lost luggage, and any other type of interruption (natural disasters, other emergencies). You can choose from single-trip insurance or, if you travel often, annual coverage, which works more like car and house insurance. Your policy will differ depending on the provider and destination (for single-trip coverage).

Like anything, the more you do something, the more likely various outcomes may occur- so, the more you travel, the more likely you are to experience a disruption. An annual plan is the more economical choice for someone who travels several times a year. For those who take one or two trips, then a single trip insurance policy is all you need.

A good travel insurance plan will provide the most benefits. Coverage falls within the following categories, with each category containing more specific coverage:

• Cancellation & Interruption
• Medical
• Delays & Baggage
• Trip specific

Cancellation can come from various sources, such as weather, terrorism, etc. Medical also has other uses: emergency medical, pre-existing condition, accidental death and dismemberment (AD\&D), medical evacuation, and even non-medical evacuation. Delay and luggage covers just that: if your flight is delayed, if you miss a connecting flight, and if your luggage gets lost or is delayed. Trip-specific means things that don’t pertain to every trip, like a cruise, a sport (like if you are going on a skiing trip), rental cars, etc.

When looking at medical insurance, be sure to specify international coverage when traveling abroad. Medical evacuation insurance is also important, so in the case of an emergency, you’ll be covered to get home.

It’s a lot, I know. Luckily, sites like Squaremouth have great comparison tools that let you compare several types of insurance and filter them out with exactly what you need.

Many people believe they don’t need travel insurance because of various factors. Some of the most popular misconceptions include:

Credit Card Coverage
Read the fine print if your credit card says it covers a flight or hotel cancellation. There are almost always limitations on credit card coverage, and a more comprehensive insurance will save you a lot of money.

“I’m healthy, I don’t need it.”
You never know when something may strike, so it always helps to be prepared.

“I’m not traveling anywhere risky.”
While it’s nice to think there are places where nothing bad happens, that is not reality. No matter where you are going, something can happen.

Know What is Included and What is Not

Policies are going to vary widely, but the key things you should look for are:

Trip Cancellation and Interruption

Covers prepared costs if you cancel due to illness, injury, or covered emergencies (which differ from policy to policy, so be aware of what is covered).

Emergency Medical

Medical care is more expensive than you may realize if you have a good medical plan and don’t realize what a simple trip to the doctor costs. Get at least $100,000 in medical coverage, especially when traveling internationally.

Medical Evacuation

Serious incidents or illnesses may require transportation to a hospital or home, so you want to ensure you have coverage.

Luggage Loss/Delay

Luggage coverage will help recoup the cost of lost items. I know someone whose luggage was lost while traveling to Paris, and her insurance covered the clothes she had to buy in Paris - talk about making lemonade out of lemons!

Travel Delay

Covers accommodations and food if your flight is delayed for a covered reason.

Add-Ons

There are certain add-ons you can get that are specific to your situation. These include:

• Cancel for Any Reason (CFAR) - Allows cancellation for reasons not listed in standard policies (like fear of travel). It usually reimburses 50–75% and must be purchased within a set window (typically 14–21 days after booking).
• Pre-existing Condition Waiver - Required for chronic illnesses, make sure yours is covered.
• Rental Car Coverage - If you’re renting a car, you’ll want to make sure you are covered.

Compare Policies and Agencies

Use aggregators to compare policies so you know you are getting the best. Sites like Squaremouth, TravelInsurance.com and InsureMyTrip will help you make the best decision for your needs.

Some of our favorite Insurance Policies:

The Best Yearly Travel Insurance

Our favorite yearly coverage is Allianz Travel Insurance AllTrips Premier. It’s comprehensive, and many of the benefits are per person/per trip. It allows you to adjust the trip cancellation limit per year, so if there are multiple cancellations for you in one year, you’ll be covered.

The Best Medical Evacuation Coverage

Our favorite medical evacuation coverage is Medjet Assist. Seniors aged 75-82 should consider Medjet Diamond, which requires a short questionnaire and statement to be completed for coverage.

The Best Single-Trip Travel Insurance

For a single-trip, Tin Leg has several options and has trip cancellation coverage for 100% of the cost, which is key when you’ve been saving for a trip that suddenly has to be cancelled.

Best Travel Insurance for a Cruise

Travel Guard has comprehensive plans and separates cruise insurance from regular travel insurance, so it’s not an add-on. It’s customizable, so it works for every type of traveler.