No matter where you’re traveling to or from in the winter, snow or ice are bound to strike. Winter woes can be averted by getting travel insurance, even if it costs a pretty penny to do so. You’re probably asking yourself “Is winter travel insurance worth it?” The answer mostly depends on where you’re going or where you’re coming from. If you’ve spent months designing an itinerary jam packed with activities to make an unforgettable trip, you may want to protect your investments.
- What is travel insurance?
- Basic trip cancellation insurance
- Comprehensive travel insurance
- Is winter travel insurance really worth it?
What is Travel Insurance?
Few people are familiar with travel insurance until they’re faced with the decision to purchase it or not. This type of insurance is designed to protect you against risks and financial losses that could happen while traveling. Travel insurance covers a wide range of scenarios and unknowns depending on the type you buy.
This is not a one size fits all type of deal so it’s a good idea to understand the types of plans and pricing before determining what makes winter travel insurance worth it. The two most common types are basic trip cancellation and comprehensive travel insurance, both can be beneficial for different reasons when traveling in the winter months.
Basic Trip Cancellation Insurance
Trip cancellation insurance can be purchased as part of a comprehensive travel insurance policy (more on that later). This is designed to protect prepaid, non refundable reservations including flights, hotel reservations, or other bookings if the trip is canceled. Trip cancellation insurance will not cover losses stemming from self-harm, taking part in dangerous activities (skydiving, bungee jumping, etc.) or foreseeable events such as childbirth.
When do you need basic cancellation insurance?
This is favorable if you’re paying large deposits that you’d be uncomfortable losing if something were to happen. Chicago O’Hare International, New York La Guardia Airport and Denver International Airport are among the nation’s worst airports for winter delays. If you’re traveling in or out of any of these airports, that certainly makes winter travel insurance worth it for some peace of mind. It’s also great if you worry about losing luggage.
Traveling in the winter is a big risk as storms can shut down airports, train stations, and even whole cities. If you don’t need any other coverage, a minimally priced trip cancellation insurance policy is a good choice.
When you don’t need it
If you’re not concerned about Mother Nature messing with your plans, then don’t bother. Some credit cards actually offer trip insurance that could cover up to $10,000 per person if your trip is cancelled due to illness or weather. Check your wallet before purchasing any additional coverage that could end up being a waste of your money.
Although COVID-19 is still affecting travel plans for some, rising cases is likely not a valid reason to cancel your trip so be sure to pay close attention to which reasons for cancellation are considered valid. If COVID is a concern, then consider looking into the cancel for any reason policy (CFAR) which will allow you to get up to 75 percent of your investment back.
Comprehensive Travel Insurance
The comprehensive package plan is the most popular because it fits the needs of most travelers. It covers cancellations, hurricanes, medical emergencies, evacuation, lost, stolen and delayed baggage, and more. This plan is all-inclusive, hence the name. Most plans even offer coverage for rental car damage which is a huge plus if you plan to drive on roads blanketed in black ice.
When do you need comprehensive travel insurance?
Planning to spend your winter skiing at Jackson Hole or hiking in Flagstaff could be a once in a lifetime experience unless you get injured. If you’re accident prone and end up requiring emergency medical treatment during your trip, this plan could reimburse you according to the policy limit.
Paying nearly 80 percent of your trip upfront makes winter travel insurance worth it as well, so consider spending the extra cash to save yourself in the future. Think not only about airfare and hotel rates but costs of ski lift tickets, snorkeling, park admissions or whatever incredible events you signed up (and paid) for.
When you don’t need it
No doubt is the comprehensive travel insurance policy expensive and can cost between 4 and 12 percent of the total price of your trip. Traveling to the Sunshine State to do nothing but sit on the beach for four days? Skip it. During this time of year, there are no threats of a hurricane canceling your flight or ruining your fun.
Is Winter Travel Insurance Worth It?
This is a question you have to answer for yourself based on your own scenario. While insurance certainly adds up, getting caught without it in the winter could also cost you as travel delays ramp up and illness spreads like wildfire. If you’re a worry wart then it may just be the best money you spend your whole trip, making winter travel insurance worth it. Traveling can be stressful for some as is, so investing in travel insurance can grant you peace of mind in case of an emergency. However, if you don’t expect to travel through extreme weather or haven’t been sick since elementary school, then winter travel insurance may not be worth it for you.
