Forward Bank

As the holiday season approaches and winter settles upon us in Wisconsin and Minnesota, many people are planning trips to visit family or escape the cold for a bit of sunshine. Whether you're flying to see loved ones, hitting the road for a long-distance holiday gathering, or planning a warm getaway, travel insurance is something to consider before you pack your bags. But is it worth adding to your travel budget? Let’s explore why travel insurance could be a smart choice this holiday season.

What is Travel Insurance?

Travel insurance is designed to protect the financial investment you've made in your travel plans. It helps cover unexpected expenses such as trip cancellations, lost luggage, medical emergencies, or even travel delays. For those traveling during the holiday season, which is often filled with unpredictable weather, crowded airports, and long road trips, having a safety net like travel insurance can bring peace of mind.

Key Benefits of Travel Insurance

When deciding whether travel insurance is worth it, it's essential to consider the various benefits it offers:

1. Trip Cancellation or Interruption: One of the most common reasons travelers buy insurance is to protect against trip cancellations or delays. If a medical emergency, severe weather, or even a family issue forces you to cancel or cut your trip short, travel insurance can help recover the costs of non-refundable reservations, such as flights, hotels, and tours.
2. Medical Coverage: If you’re traveling to remote areas or internationally, it’s essential to have coverage for medical emergencies. Travel insurance often includes emergency medical services, which can be crucial if you experience a sudden illness or injury. Some policies also cover emergency medical evacuation, potentially saving you from expensive out-of-pocket medical transport costs.
3. Lost or Delayed Luggage: Holiday travel often comes with crowded airports and increased chances of lost or delayed luggage. Travel insurance can reimburse you for essential items if your luggage is delayed, lost, or stolen. This can be a lifesaver when your holiday gifts and cold-weather gear go missing!
4. 24/7 Assistance: Most travel insurance policies offer around-the-clock customer service to help you deal with emergencies, rebook flights, or file claims. This can provide peace of mind, especially when you’re traveling far from home.

How to Choose Travel Insurance

Travel insurance is especially valuable for certain types of trips. If you’re planning an expensive, long-distance journey—especially international travel—insurance is a smart investment. This is particularly true for trips with large, non-refundable deposits, such as cruises or all-inclusive resorts. These kinds of travel plans come with higher financial risks, making coverage worthwhile.

However, if you’re taking a short, inexpensive domestic trip, travel insurance may not be necessary. Last-minute or budget-friendly trips typically don't involve the same level of risk, meaning insurance might not be essential.

When selecting a travel insurance policy, it's important to carefully review what’s included, especially for key scenarios like medical emergencies or trip delays. If you're unsure which policy suits your needs, your insurance agent can guide you through the options and help you understand the fine print. Some policies only cover cancellations under specific circumstances, so it’s vital to know what qualifications are required before purchasing.

Additionally, check with your credit card provider, as some cards offer limited travel coverage, such as protection for lost luggage or trip cancellations, which could save you from needing a separate policy.

Review Travel Insurance Options

Holiday travel can be exciting but unpredictable. Snowstorms, medical emergencies, and travel delays are common occurrences during this time of year, and travel insurance can help you avoid the financial burden of these disruptions. Whether you're flying to see family or taking a much-needed vacation, thorough planning—including considering travel insurance—can give you peace of mind.

Before you head out this holiday season, take a moment to assess your travel plans and determine whether insurance is right for you. If you need help navigating your options, reach out to your insurance professional. They can help you choose the right coverage to protect your holiday investment and ensure you can enjoy your trip worry-free.

Safe travels and happy holidays from all of us at Forward Insurance!