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Old Jan 19, 18, 2:27 am
  #4  
MikeFromTokyo
 
Join Date: Jan 2009
Location: BKK
Posts: 6,706
Originally Posted by KatW View Post
Travel insurance: Yay or Nay?

We travel luxe most of the time and historically I have not availed myself of travel insurance and only once have suffered therefore. But I recently booked a VERY expensive trip and chose to insure it for a hefty premium.

And I feel like a chump. But I have good reasons to seek protection with so many big bucks at risk: my husband is in mid-stage dementia and I have lupus, albeit generally well behaved. So, I swallowed the bait this time. Would you?
I generally make bookings for expensive resorts realtively close to the time of travel, so I feel comfortable not insuring those bookings. For city hotel reservations, I typically have a 24 hour or similar cancellation policy, so similarly I find that within my risk tolerance. Most of my airline tickets are also flexible and refundable, so there is no need to insure.

It comes down to evaluating the actual risk involved, and weighing that against the cost of insurance and your personal risk tolerance. For a substantial five figure (or higher) non refundable travel investment you should probably have insurance. If some travel agency or airline is pushing an insurance policy on you for a trip that actually involves little risk, then it’s time to circle the wagons. Those travel providers are paid a commission on the policies they sell, and they would absolutely love to sell you something you do not need.

As an aside, I think it’s wonderful that you and your husband continue to travel in spite of medical conditions. So many conditions can affect people of all ages, and I think it is a huge mistake when people allow those conditions to stop them from enjoying life to the fullest.

Last edited by MikeFromTokyo; Jan 19, 18 at 3:35 am
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