I Don’t Need Trip Insurance, or Do I?

“This is a girls (guys) trip. No one is going to back out.” “This is my last single fling. No one will back out. We all want to party!” “Seriously? Nothing will happen to the resort. They’re prepared for hurricanes.” “No one will get sick before the trip.”

And the BIG one – “I don’t want to spend any more money. I won’t need it.”

Sound familiar? I get these responses a lot when I ask about the purchase of trip insurance to protect the financial investment of my clients’ trips. We all know that life has a tendency to get in the way of best laid plans, and if you can afford to lose potentially thousands on your trip, more power to you. I know I can’t, and most people I know don’t want to, either. More and more, people are saving up for awhile (sometimes years), spending these savings on a special vacation, and don’t want to have to spend any more than they have to. I get it. Really, I do. Budgets suck. There’s no other way to put that.

However, consider that you just laid out $2500 to go to Cabo San Lucas in March for a trip with your besties for a bachelorette getaway. You didn’t take the trip insurance when you booked because you figured that there was no way you weren’t going to celebrate with your best friend since nursery school before she gets married. It’s late January, and everyone is paid in full. Guess what? The bride goes skiing in Aspen with her fiance on a before-moon to escape all the stress from planning the wedding. She falls, breaks her leg, and needs surgery. The doctor won’t clear her for travel in early March. Do you still go without the woman of the hour? My guess is no one wants to go without her. Without the insurance, everyone is out their investment.

We are all careful drivers, but what if you are in an accident? No one ever plans for one of these. That’s why they’re called accidents. One of these can take its toll, especially if it’s serious, and may force you to cancel your trip. This would be a covered reason with the insurance.

Losing employment – Sometimes this is obviously going to happen, sometimes not. Losing your employment can certainly scare you out of going on vacation, and rightfully so.

Jury duty is another big one. The judicial system doesn’t care if you have a vacation planned. You must do your civic duty. My experience with this one is an example here. I had an infant at home the last time I was called for jury duty, and I was still made to appear. Minor children at home used to be a valid reason to be able to either not go or postpone your service. A Cancel For Any Reason (CFAR) clause in addition to your policy would cover you here, and loss of employment, too. These are typically extra, but are worth every penny if needed.

Keep in mind, however, that fear or fear of illness aren’t covered reasons for trip cancellation, and isn’t going to be covered by Cancel for Any Reason. A perfect example of this currently is the coronavirus. Some travel suppliers are making some exceptions, but for the most part, unless you’re traveling to a place that has been quarantined or restricted travel within the next few weeks, you’re not going to be able to cancel and get a refund. Take the same precautions you would if you were at home. Check with the WHO and/or CDC daily for updates. It’s literally changing by the hour.

While these are just examples, it’s not too far off of what can actually happen. We always recommend trip insurance to our clients, and wedding insurance to our destination wedding clients. While it may seem trivial, and not an expense you want to lay out, should something happen, it’s peace of mind knowing that your financial investment is covered.

Patti CasasI Don’t Need Trip Insurance, or Do I?
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