Booking your 2023 travel? Here’s how to protect your trip – CBS News

Booking your 2023 travel? Here’s how to protect your trip – CBS News

Like your vacation, each travel insurance policy is unique. 

Nora Carol Photography / Getty Images

If one of your New Year’s resolutions was to travel more, then don’t delay. Start your search for affordable airfare, hotels and excursions now. After all, you’re not the only one planning to fly in 2023.

If you want to avoid the possible headache of a canceled trip or losing money in general, then consider buying travel insurance. With travel insurance, you have control over what’s covered and can protect your wallet in the event of an unforeseen event or emergency. 

You can search dozens of policies based on your trip information with the click of a button via travel insurance marketplace Squaremouth. Search now!

How to protect your trip in 2023

There are many benefits that come with comprehensive travel insurance, including trip cancellation, which will allow a traveler to request up to 100% reimbursement if they need to cancel their trip for a variety of covered reasons. You also have the option to get extra coverage if you upgrade your plan — for things like Cancel For Any Reason and Pre-Existing Condition coverage — if you deem it necessary.

The cost of travel insurance varies depending on your plan, but it should typically cost you between 5% to 10% of your trip costs, Squaremouth says. But there are plenty of ways to save money. And remember, you should only get travel insurance that’s essential. Don’t over-insure your trip.

Like your vacation, each policy is unique. So, you should compare multiple providers and plans before making a decision. Fortunately, sites like Squaremouth make it easy. Insert your trip and passenger information to view dozens of options, which you can rank from lowest to highest price.

Here are five tips Squaremouth gives to travelers before filing insurance claims:

  1. Reach out to your travel insurance provider immediately
  2. Gather the paperwork from your trip in advance (receipts, proof of purchases, etc.)
  3. Get documents that show you canceled your trip
  4. Provide as many relevant details as possible on your claim form
  5. Don’t be surprised if you’re asked to provide further information or documentation 

Should you get travel insurance?

If you’re traveling abroad or during a popular travel window (such as the holiday season) when there are increased chances of trip cancellations or delays, then you probably want to get travel insurance.

There are four main factors that affect the price tag of your travel insurance:

  1. Total trip expenses
  2. Age of the passenger(s)
  3. Trip length 
  4. Coverage amounts

You should take all of these things into account when determining whether or not you should invest in travel insurance. Consider the possible risks and issues that could arise during your trip and determine if it’s worth the cost to have an extra layer of protection that ensures you won’t lose any cash.