by Mark Albert
Perhaps one of the hardest choices to make when planning a trip overseas is whether to buy travel insurance. The terms can be confusing, the coverage amounts vary widely, and some policies come with a time limit for purchase.
This post will talk about how I approach evaluating travel insurance and what I personally do. Every person’s situation is different and I cannot advise you on whether you should buy travel insurance or what kind (I’m also not a doctor and I most certainly don’t play one on TV). Please check with your physician for further questions about whether a travel insurance policy is right for you.
I’m also not an insurance agent or broker.
Buying Through the Airline
Often, airlines will present you with an offer to buy travel insurance even before you’ve purchased the ticket. Many airlines now make you actively accept or decline before you proceed with actually buying the airfare.
As part of the pitch, they grab your attention with eye-popping, bolded warnings such as this one from American Airlines: “Important fact: The average out-of-pocket cost of medical emergency transportation outside the U.S. can be as high as $25,000.” That makes the $60, $80, or $100 travel insurance premium seem minuscule in comparison.
(PIC: Screen shot of American Airlines Travel Insurance Purchase screen.PNG)