You don’t have to let the unexpected get in the way of your fun or your finances on your travels.
Travel insurance lets you stay protected and step up your travel game. I’ve personally had success with using travel insurance, and so have some of my colleagues.
Let’s explore different ways travel insurance can be a good idea for your next trip.
If you’re over 50, take advantage of massive travel discounts and trip-planning resources
Over 50 and love traveling? Join AARP today — because if you’re not a member, you could be missing out on huge travel perks. When you start your membership today, you can get discounts on hotels and resorts, airfare, cruises, car rentals, and more.
How to become a member today:
- Go here, select your free gift, and click “Join Today”
- Create your account (important!) by answering a few simple questions
- Start enjoying your discounts and perks!
An AARP membership not only unlocks discounts that could save you hundreds on your next trip, but you’ll also have access to deals on vacation packages, guided tours, and exclusive content to help plan your next getaway.
Important: Start your membership by creating an account here and filling in all of the information (do not skip this step!). Doing so will allow you to take up to 25% off your AARP membership, making it just $12 per year with auto-renewal.
Stolen phone
My phone was stolen in Vietnam during a huge round-the-world trip I’d planned with my wife. It was emotionally draining, but we were fortunate to have travel insurance to cover the financial losses.
Our travel insurance plan covered up to $500 for stolen items. Even better, I had purchased my cell phone with a credit card that had purchase protection for lost, stolen, or damaged items.
That covered another $500, more than enough for a phone replacement.
Many of the best travel credit cards have built-in travel insurance benefits included in your card membership.
Cancellation fees
Laura had an all-inclusive vacation to Mexico booked to celebrate a special birthday. But she had to cancel the plans when her boyfriend developed a medical condition that prevented him from going.
Without travel insurance, Laura had to pay about $700 in cancellation fees. Trip cancellation policies can often cover your prepaid, nonrefundable expenses if you have to cancel a trip for a covered reason.
In addition, it could make sense to boost your bank account for any unexpected travel expenses you might run into.
International ER visit
Hailey caught an infection while on an international vacation, which landed her in a foreign emergency room. If that’s not scary enough, she had to front $6,000 for the medical costs.
Fortunately, Hailey had travel insurance that stepped in to reimburse her applicable expenses.
Many travel insurance policies include emergency medical coverage for these types of situations.
Earn a $250 travel bonus with this incredible card
There's a credit card that's making waves with its amazing bonus and benefits. The Bank of America® Travel Rewards credit card has no annual fee and you can earn 25,000 bonus points after spending $1,000 in purchases in the first 90 days of account opening.
You can earn additional points just by using this card for your everyday purchases — unlimited 1.5 points per $1 spent on all purchases. The 25,000 bonus points can be redeemed for a $250 statement credit toward travel or dining purchases.
If you want to travel and dine out more, the Travel Rewards card can help you get where you want to go.
The best part? There's no annual fee.
Stolen passport
Mindy lost her passport in Portugal, but she was able to remedy the situation with a visit to the U.S. embassy.
However, another person at the embassy had their passport stolen a few days earlier, and the embassy was closed for a holiday weekend. So he missed his flight home and had to stay in a hotel while waiting for the embassy to open back up.
Luckily, he had travel insurance to cover the additional travel costs, which let him enjoy a few more days in Portugal without any serious financial repercussions.
Back injury
Rob hurt his back a few weeks before a climbing trip to Mount Rainier in Washington. He had to cancel the $1,500 trip but had travel insurance to cover the cost.
Note that many types of travel insurance don’t cover dangerous activities, such as rock climbing. But Rob had paid for a specific plan that covered outdoor expeditions.
Also, he provided proof of his injury from a doctor to satisfy the insurance claim requirements for his canceled trip.
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Nonrefundable flights
Allie was in another U.S. city far from home when COVID-related shutdowns started happening. There was a lot of uncertainty around air travel then, so she decided to cancel her flight home and get a rental car.
Unfortunately, her flights were nonrefundable, and she was denied reimbursement.
These days, many travel insurance companies provide options for epidemic coverage, which can provide you with reimbursement in situations similar to Allie’s.
Skiing accident
Tracy’s son broke his leg skiing while out of state and needed emergency surgery. The costs quickly piled up from medical bills, ambulance charges, hotel nights, flights, and a rental car.
But the travel insurance Tracy had in place for the trip helped cover all those expenses, including her flight out since she wasn’t there and he was a minor.
These types of situations are typically covered with emergency medical coverage, as well as emergency medical transportation coverage.
Emergency transportation
Mary’s friend was on a small Greek island when he had a heart attack. The island didn’t have sufficient medical facilities to care for him, so he was transferred to the mainland.
This type of emergency medical transportation is extremely important but can cost a lot. Of course, you don’t want to have to worry about money if there’s a severe medical condition that takes precedence.
And that’s where travel insurance comes into play, allowing you to focus on what’s truly important while not bleeding money.
Lost or damaged baggage
The longer you travel, the more you realize how easy it is to lose a bag, wallet, or other personal effects. Or how easy it is to be the victim of theft or have one of your bags damaged.
Many travel credit cards provide lost luggage reimbursement if your luggage is lost or damaged while traveling with an airline or other type of common carrier.
Most travel insurance policies also have this type of coverage available, including the option to cover the cost of just about any lost or damaged item, not just your luggage.
Unlock exclusive entertainment deals and VIP perks (without a credit card)
Ready to take your entertainment and travels to the next level? Experience the finer things in life with the SELECT card.
No, it's not a credit card, it’s an exclusive membership — and your passport to a world of elite benefits and unforgettable moments.
Imagine sipping complimentary cocktails in downtown Manhattan at KYU NYC or saving 20% on the best sushi in Hollywood Hills at Yamashiro.
Like to shop? Members receive VIP discounts like 15% off at Brooks Brothers, and up to 60% off at Tumi.
Enjoy special offers at luxury hotels like the Four Seasons and Omni Select. For example, you get 15% off at Hyatt Hotels worldwide.
But it’s not just about the hundreds (or thousands) you could save. There are so many features that make you feel like a VIP every day. Like SELECT’s white-glove concierge that assists with bookings, recommendations, or anything you need. And priority access to reservations to some of the year’s hottest events (many not open to the public).
Travel delay
Have you ever waited half a day to board your flight because of travel delays?
Some travel cards provide trip delay reimbursement that covers reasonable additional expenses, such as meals, lodging, toiletries, and medication.
Your trip typically has to be delayed at least six hours or require an overnight stay for this coverage to kick in.
Change fees
It helps to have some flexibility with your travel plans if you need to change because of unforeseen circumstances. The issue is that many airlines charge fees for making certain changes to your itinerary.
If you want the freedom to avoid these fees (up to a certain amount), consider travel insurance coverage that includes an option for change fees.
Rental car damage
Rental cars are one of my favorite ways to explore a new destination because they give you plenty of freedom and flexibility to see different places and go at your own pace.
But I’m always worried about damaging the rental car on accident and then having to pay exorbitant repair costs.
To lessen my worries, I always have rental car insurance in place, either through a travel insurance policy or with a credit card that includes car rental coverage.
I still drive carefully, but I also have more peace of mind that if anything were to happen, I’d have some financial support.
Bottom line
Just like you or the next person, I love to travel. But I know that going on vacation doesn’t mean everything will be all rainbows and unicorns.
If you want to prepare yourself for the unexpected, consider travel insurance. It can help you avoid wasting money if something were to happen.
Easy-to-Earn Unlimited Rewards
Benefits
Card Details
- $0 annual fee
- Simple, flat-rate rewards
- Flexible redemption options
- Up to 75% preferred Rewards bonus potential
- Apply Now
- Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
- 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
- Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
- Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.74% - 28.74% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%.
- If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases.
- Contactless Cards - The security of a chip card, with the convenience of a tap.
- This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
FinanceBuzz writers and editors score cards based on a number of objective features as well as our expert editorial assessment. Our partners do not influence how we rate products.
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Earn 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
Annual Fee
$0
Why we like it
The Bank of America® Travel Rewards credit card is great for individuals who enjoy earning rewards and traveling.
Cardholders will enjoy the flexibility to redeem points with no blackout dates and receive a statement credit to pay for travel and dining purchases.
Earn 1.5X points on all purchases everywhere, every time.
- Apply Now
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