Watching Your Wallet: Deciding on travel insurance

Watching Your Wallet: Deciding on travel insurance
Published: Jun. 7, 2022 at 6:11 PM EDT
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LANSING, Mich. (WILX) - Summer travel is just around the corner, but when it comes to those big-ticket trips, deciding on travel insurance can be a tough decision.

With the unknowns of the latest COVID variants on summer travel, many experts still recommend getting travel insurance under certain circumstances.

“A lot of travel insurance policies have actually added COVID specific coverage to many of their policies,” said Sara Rathner. “And that’s a good thing because typically known problems like pandemics are not covered.”

Rathner, a personal finance expert with Nerdwallet, said COVID specific language gives you a little bit of extra protection if COVID is the reason your trip gets canceled or delayed or cut short.

If you’re planning an expensive trip, one of those once-in-a-lifetime vacations and you’ve pre-paid for a lot of it, she said it could be worth looking into travel insurance.

But make sure your travel rewards credit card doesn’t already cover you and come with trip insurance.

“There’s still lots of flexibility when it comes to booking airfare, hotels and rental cars,” Rathner said. “You might be able to get your money back or reschedule without paying an extra fee.”

See if there’s a travel insurance plan that could help you, if you have an expensive trip on the horizon.

More Watching Your Wallet stories can be found here.

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