Going on vacation is all about having fun and enjoying some much-needed relaxation. Unfortunately, no matter how well you plan your vacation out, it’s impossible to plan for the unexpected. Whether it’s a sudden weather change, an airline losing your baggage, or an accident or illness, things don't always go the way you imagined.

Fortunately, although you can’t control everything that happens on vacation, you can protect yourself from financial consequences if something does go awry. Travel insurance is one of the most essential things to consider when taking a trip, and could save you thousands of dollars and a lot of inconveniences.

Here are five reasons why you should always purchase travel insurance before you go on vacation.

Cancellation Protection

Most vacations aren’t refundable, from the flights to the hotel costs and transfers, there are many expenses that you can’t get back if you have to cancel your trip due to unforeseen circumstances.

Travel insurance can give you peace of mind should you need to cancel your trip due to events out of your control. It’s important to always read the terms and conditions of your insurance, as not all reasons for cancellation are valid. For example, canceling your trip because of a medical reason will often require evidence through a doctor’s note. If you want to ensure that you can get your money back through an insurance claim, you should opt for a policy that allows you to cancel your trip for any reason.

Missed Flights

There are many reasons why you might miss your flight, whether due to adverse weather conditions, or missed connections. Often travel insurance will pay for your replacement flight if the missed flight is due to no fault of your own. However, it’s important to note that most policies don’t cover your expenses if you miss a flight simply because you were late. Again, it’s important to thoroughly read your insurance policy and have a clear understanding of what it does and doesn’t cover.

Canceled Flights

Unfortunately, it’s impossible to predict whether a flight is going to take off up until the very last minute, for example, flights frequently get canceled due to unfavorable weather conditions. Fortunately, travel insurance almost always covers the cost of rebooking flights that airlines cancel.

Adverse Weather Conditions

Hurricanes, tornadoes, snowstorms, and various other adverse conditions can make it impossible to reach (or leave) your holiday destination. This can be particularly problematic if the weather conditions make your accommodation uninhabitable. In this instance, travel insurance will often cover your flight home, or new hotel room, as well as other expenses.

Illness and Injury

One of the most crucial aspects of travel insurance is the coverage of medical expenses should you fall ill or suffer an injury. It’s important not to assume that your standard health insurance will cover your costs when traveling outside of the U.S., as this is rarely the case. Medical expenses can cost thousands of dollars, especially if you require specialist care, so be sure that you’re covered adequately before you board your flight.

Lost Baggage

One of the most inconvenient things that can happen during vacation is the airline losing your baggage. Fortunately, if you opt for baggage coverage to be included in your travel insurance policy, you will be able to claim for delays and loss of belongings.

It’s important to note that most policies will only provide a limited payout for replacement belongings, so keep this in mind when packing your suitcase!

How To Find Cheap Travel Insurance

According to InsureMyTrip.com, travel insurance typically costs between 4% and 10% of your total costs. For example, if your trip has a cost of $3,000, you will likely pay anywhere from $120 to $300. This is surprisingly affordable when you consider how much peace of mind travel insurance provides during the unexpected.

If you want to get the best deal possible for your travel insurance, it’s essential to compare quotes from several different providers. The easiest way to do this is to start your search for cheap travel insurance online. There are many user-friendly websites that can help you quickly and easily compare and contrast insurance quotes. You may also have travel insurance provided by your bank or credit card company, so be sure to check before you purchase a policy — it may save you some much-needed cash for your upcoming trip. 

Sources: https://www.nerdwallet.com/blog/insurance/travel-insurance/, www.insuremytrip.com