According to AAA, more than six million people are expected to take to the skies this year for Thanksgiving.
Due to the large number of passengers flying at this time of year, flight interruptions and cancellations due to weather and other issues are inevitable. If you’ve left travel insurance out of your travel planning, those interruptions will not only ruin your travel plans, but may leave you with little financial room for inconvenience.
But don’t worry, travel insurance may still be an option, even if you’re only leaving for a few days, said Jesse Neugarten, CEO of travel site Dollar Flight Club. Independent.
“Even so close to Thanksgiving, it’s absolutely worth buying travel insurance,” Neugarten wrote in an email. It’s one of the most chaotic travel weeks of the year and we’re constantly seeing spikes in last-minute disruptions and rebookings… Full flights, winter weather and tight connections mean a delay can turn into an overnight stay, missed connection or lost luggage.
However, there are a few things to consider before you buy, including what your policy does and doesn’t cover:
What does it cover?
“In most cases, comprehensive travel insurance policies are available to purchase right up to the day of travel,” said Chrissy Valdez, chief operating officer at travel insurance marketplace Squaremouth. Independent via email
“While it depends on the type of policy you’re looking for, benefits like travel delay coverage or medical emergencies are not time-sensitive and can be purchased up until the day of travel,” Valdez said.
According to Squaremouth, the coverages he mentioned — travel delay coverage and medical emergencies — are part of a wide range of benefits that standard travel insurance offers, including:
|
cover |
What it covers |
|---|---|
|
Lost or delayed baggage |
Provides limited reimbursement for lost baggage or cargo delayed for more than a certain number of hours, provided the claim meets coverage requirements. |
|
Medical emergencies |
Reimbursement for medical care you receive abroad if you are injured during your trip, and in some cases it comes with medical evacuation insurance, which helps cover the cost of transportation to a medical facility. |
|
Cancel the trip |
Refunds prepaid, non-refundable travel purchases if you are forced to cancel your trip for covered reasons such as hurricanes and other weather events, medical reasons, terrorism, layoffs, airline financial default. |
|
Interruption in travel |
Reimbursement offers prepaid, non-refundable travel purchases if you have to miss part of your trip or cancel it after it starts for covered reasons such as illness, natural disasters and terrorism. |
|
Travel delay |
If your trip is delayed by more than a certain amount (six hours is common) for certain unforeseeable reasons, it usually offers a daily reimbursement for expenses. |
Trip delay, interruption, cancellation and lost or delayed baggage coverage are valuable benefits that can help you financially if you run into a problem that your insurance policy covers.
In addition, emergency medical coverage can provide significant financial protection in the event you are injured while traveling, with many policies covering up to $250,000 or more.
Policies available for purchase this week may also include coverage for lost, stolen or damaged personal belongings and missed flight connections.
Closing it can be costly
If you plan to buy travel insurance before you fly this week, there are certain coverages you may not get, Neugarten said.
“What it doesn’t cover are ‘I don’t want to go anymore’ scenarios, voluntary changes because you found a cheaper flight, or issues known in advance when you bought the policy, such as a named storm that has already disrupted travel,” he said. “Pre-existing medical conditions are often excluded unless you shop early enough and meet the exemption criteria.”
One trip cover you may not be eligible for is cancellation for any reason. This coverage is usually an add-on to your policy that allows you to cancel for any reason not already covered by your policy.
“If you want to get a cancellation policy for any reason right before your trip, it can be difficult to do so, mainly because some people may have already decided to cancel and hope to buy insurance to cover losses they’ve already incurred,” said Clearsurance.com insurance expert Melanie Musson. Independent via email
It is not always expensive
One of the wallet-friendly benefits of travel insurance is that if you wait until the last second to buy your policy, it usually won’t increase in price. Instead, other factors affect cost, said Barry Spearman, founder of travel company Carpe Diem Getaways. Independent via email
“The price is based on the cost of the trip, the age of the passenger, the length of the trip and the level of coverage,” Spearman said. Buying insurance at the last minute does not increase the price – only eligibility for increased benefits such as [cancel-for-any-reason] or exemption from pre-existing conditions.
So, while you may wait to buy travel insurance, you won’t pay more for your coverage, and you’ll generally only lose coverage for trip cancellation or interruption and, in some cases, coverage for pre-existing medical conditions.
If you’re in good health and haven’t had to cancel your trip before, Musson said buying insurance is a wise choice.
“The need for travel insurance doesn’t diminish as the trip approaches,” he said. “The biggest risks of things going wrong and disrupting your trip occur after you’ve started. So, whether it’s close to your trip or six months in advance, the argument in favor of buying travel insurance is very similar.”
