So you are about to book your bachelorette party and had a question about travel insurance.  Yes, you have seen this advertised throughout the web but never understood what it was and whether or not you needed to purchase it.  This article will tell you exactly what this type of insurance this is and will also let you know if it’s truly needed.

What is Travel Insurance

Travel insurance is basically an insurance policy that protects you while traveling.  This is a supplemental insurance which would work together or be added on to existing insurance policies you currently have.  It can protect you from situations which are beyond your control such as illness to you or a family member, death to a family member or travel partner, extreme weather conditions, canceled or delayed flights, missing baggage and more.

What is the Cost

The cost for travel insurance plan is determined on several factors.  One would be the location you are traveling, another would be your age, another being the state you currently live in, the insurance package selected, and the final one being the total cost of your trip that is being insured.  

Now most companies that offer this type of insurance will have several packages or tiers for you to choose from.  For example, Allianz Travel Insurance offers three main plans, Basic, Classic, and Classic with Trip+.  Below you will see the prices for each package based on a $1,000 trip being insured.

Now the difference between each plan besides the cost is also the benefits and covered reasons.  For example, if you decide to purchase the Basic Plan you are only covered up to $1,000 for trip cancellation, $10,000 for medical/dental, $50,000 for emergency medical transportation, and $500 for lost baggage. If you now go up to the Classic Plan for an additional $14.00 your benefits increase to $1500 for trip cancellation, $25,000 for medical/dental, $500,000 for emergency medical transportation, and $1,000 for lost or damaged bags.  

Do I Need Travel Insurance

This simply answer is YES, specifically if you are traveling outside the U.S. as many health insurance companies only cover issues that occur within the U.S.  Add all the additional benefits for missed flights, lost bags, interupted trip, or canceled trip and its a no-brainer.

Many reward credit cards now include some aspects of travel insurance in your member benefits.  Below are a few that offer this service but make sure you check with your credit card company before purchasing an additional policy, as you may not even need it.

How to Purchase

To purchase travel insurance for your upcoming bachelorette party, click over to the Allianz Travel Insurance website and begin the application process.  It will take you about 10-minutes to complete the various trip information and contact information required.  You will then have to pay for the policy in full with any major credit card.  Within an hour of processing your application you will receive an email with your policy information which you should print out and keep with you.

Reward Credit Cards

Many reward credit cards now include some aspects of travel insurance in your member benefits.  Below are a few that offer this service but make sure you check with your credit card company before purchasing an additional policy, as you may not even need it.

Chase Sapphire Preferred

This credit card offers the following travel insurance which is included for cardholders.

Travel Accident: $500,000
Lost Luggage:  $3,000
Delayed Luggage: $500
Trip Cancellation:  $10,000 in coverage per trip
Trip Delay: $500 in coverage per ticket

Citi Prestige

Rental Car: $100,000
Medical Evaluation: $100,000
Trip Cancellation:  $5,000 per traveler, per trip
Trip Delay: $500 per traveler, per trip
Baggage Delay:  $500 per traveler, per trip
Lost Luggage:  $3,000 per bag with max of $10,000 per trip

Anything Else?

If you are someone that has pre-existing medical conditions you should look into whether that is covered or not.  Most insurance companies will include this type of coverage assuming that:

  • You must be medically able to travel on the day you purchase your policy
  • You must insure your full nonrefundable trip costs
  • You must purchase your travel insurance policy 14-days of making your first trip payment or deposit.

You should also look into any specific pre-existing conditions that are not covered (such as bipolar disorder or alzheimer’s disease) and the max that the policy will cover for conditions that are covered (usually no more than $50,000)

Conclusion

After reading this article you should now know exactly what travel insurance is, how to purchase it.  Remember your bachelorette party should be an enjoyable time with no worries.  You never know when life is going to throw you a curve ball, so it makes complete sense to protect your investment and insure your trip.  Most likely you already have insurance for your health, car, cell phone, house or rental, and many other things.  Yes, this will be an additional cost added to your trip, but it will be one that is totally worth it should something come up.

We recommend using Allianz Travel Insurance for your policy as we have used them for many of our trips, and have even filed a successful claim with them as well, when we were supposed to attend a bachelorette party cruise, that was canceled by a hurricane.

 

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