Millions of Americans finalize travel plans as the holiday season approaches.
In particular, if you’re planning a flight around Thanksgiving or Christmas, it’s best to book your tickets sooner rather than later. Travel experts expect airfares to rise sharply around this time. And prices will just go up. Airfare prices are up about 4% a week, CBS News recently.
As you prepare to book your flight, hotel, and other accommodations, make sure you include travel insurance. With travel insurance, you may be able to claim up to 100% reimbursement for a canceled trip. It can also help you avoid the headaches of lost luggage, stolen belongings, and medical expenses (if you get them ) and more.
Whether you are traveling nearby or, travel insurance can help put your mind and your wallet at ease. Enter your travel information now to see dozens of travel insurance plans at prices you can afford.
3 reasons to take out travel insurance for the holidays
Luckily, with travel insurance, you don’t have to make instant decisions. You can take out the most comprehensive travel insurance plans up to 24 hours before your departure date. However, you must plan ahead (within 14 to 21 days of your initial booking date) if you want special insurance for cancellations for any reason or pre-existing conditions.
“Typically, travelers wait until they have made at least one insurable payment for their trip, which may include booking a flight, hotel, tour or other prepaid and non-refundable travel expense, before purchasing a policy,” said Squaremouth, a US-based travel insurance comparison site, says.
So do not worry! There is still enough time to secure your holiday trip. But if you need more convincing, here are three reasons to get vacation travel insurance:
- Travel costs are higher
- Possibility of lost or delayed baggage
- Flight delays and cancellations
Travel costs are higher
Travel insurance helps ensure that you don’t lose all of your travel expenses should an emergency or unexpected event occur. Trip cancellation is one of the main reasons why travelers buy an insurance policy.
“Travel cancellation is the number one concern for most travellers. This benefit provides protection for the financial investment travelers make in their trips and provides coverage for all prepaid and non-refundable travel expenses. This can include all travel-related expenses such as airline tickets, hotel accommodations, excursions, tours and cruises,” explains Squaremouth.
Now imagine having to cancel your trip during one of the most expensive travel times of the year. Travel insurance costs a fraction of what it would cost – 5 to 10% of your travel costs – if you lost your entire travel deposit.
Start looking for cheap travel insurance now. Simply enter your trip and trip information, departure date, and with the click of a button, you’ll be presented with multiple companies and plans to choose from.
According to a PricewaterhouseCoopers (PwC) Holiday Outlook 2022, consumers will spend an average of $1,430 this year, of which about 32% will go towards travel expenses. Higher-income households, with incomes of $120,000 or more, are expected to spend almost twice as much. Millennials will spend the most at around $623, according to PwC estimates. That’s 38% more than the average for all age groups combined.
Possibility of lost or delayed baggage
In the second half of 2021, about 6 in 1,000 bags were mishandled by US airlines, according to LuggageHero, citing data from the US Department of Transportation. That’s a total of 1.25 million lost or mishandled bags in six months.
The December holiday season tends to be the “worst month” for luggage-related breakdowns, LuggageHero added.
So if you’re traveling over Christmas or New Year’s Eve, you’ll probably want extra protection in case your luggage gets lost or damaged. This benefit allows you to receive a refund for qualifying purchases within a specific time window.
“Luggage Delay provides reimbursement for the purchase of clothing, toiletries and other essential items when a traveler’s baggage is delayed for a period of time. After a delay of 12 or 24 hours, baggage delay can cover the purchase of clothes and other essentials,” notes Squaremouth, adding that there is usually a maximum amount of coverage per traveler and a daily limit.
Again, a typical travel insurance policy should cover lost baggage, but double-check that it’s listed in your specific plan.
Flight delays and cancellations
While you’re hoping to avoid travel issues like flight delays or cancellations, there’s always a way. It was last yearand cancellations in the US during Christmas week as airlines struggled with staff shortages.
According to PwC, about 47% of Americans plan to travel this holiday season.
“More travelers mean greater risk of travel delays and travel disruptions, and when flights are full, it’s harder to get booked on the next flight. This congestion can also increase the likelihood of baggage delays and lost or stolen baggage,” TravelInsurance.com explains on the web.
With travel insurance, you can get reimbursed for the food and lodging you need during an unexpected travel delay. Just make sure it’s included in your plan.
The US Department of Transportation also lists your rights as a passenger in the event of a flight delay.