Travel insurance not always worth the expense
By Hugo Martin, Los Angeles Times
After a nasty storm ripped through the East Coast on the busiest travel day of the year, you might think that buying travel insurance for holiday travel would be a no-brainer.
Not so much. The 114-year-old National Consumers League concluded recently that travel insurance is usually a bad deal because most policies are riddled with exceptions that allow insurance companies to reject claims for payoffs.
Most insurance companies won’t disclose their track record for paying out claims, making it nearly impossible to judge whether insurance is worth the money, the league says.
I don’t agree. I bought travel insurance, threw out my back carrying luggage on the flight there, so I took a flight home. I aborted the entire trip. The travel insurance reimbursed me for everything but the air flight. I’ll always buy insurance. I got mine here: http://www.geldin.com/travel-insurance.
I’m with you Anne. We have a similar story. Bought a cruise with airfare for $ 14K. Had an injury that forced us to cancel the trip. Got a check for $ 14K from the insurance company, less the cost of the insurance. Insurance always depends on your tolerance for risk, IMHO.
the story here is: examine what you need, and purchase what you need. If you’re careful and know what you have purchased, they can be a blessing. The “disaster” stories are from folks who didnt know what they were buying and assumed it was an all risk policy. A fool and his money are soon parted!