Traveling this summer? Avoid these five travel insurance mistakes

Retirees who love to travel during the summer have a lot of advantages. They are often able to avoid peak travel times and get lower prices. That said, travel insurance can offer needed protection against unforeseen events.

Squaremouth, a travel insurance comparison site, is seeing a growing number of travelers turning to insurance for peace of mind, particularly in light of unpredictable airline schedules, extreme weather, and ongoing industry staffing issues. 

To find the best options, here are five mistakes that should be avoided:

1. Delaying the purchase

Travel insurance isn’t retroactive—it won’t cover issues that arise before the policy is purchased. One of the biggest mistakes travelers make is waiting too long to buy coverage. This delay can exclude policyholders from valuable, time-sensitive protections like Cancel For Any Reason (CFAR) benefits, coverage for pre-existing medical conditions, and hurricane-related disruptions.

Purchase your policy within 10 days of booking your trip to maximize your benefits and access the most comprehensive coverage.

2. Underestimating travel disruptions

Airline delays and cancellations have surged, driven by system-wide issues like staff shortages and tech outages. Squaremouth has reported a 55% increase in travelers looking for policies that include delay coverage.

What to Look For: A robust travel delay policy that kicks in after three hours and applies to any common carrier can help cover meals, lodging, and rebooking costs.

3. Confusing cost with quality

Travelers should remember that a higher price tag doesn’t always mean better coverage. Some of the best policies on the market are also among the most affordable, depending on how insurers assess risk.

Compare coverage features rather than price alone. Choose the least expensive plan that still meets all your needs.

4. Relying on airline or cruise add-ons

Opting for the travel insurance offered by airlines or cruise companies may seem convenient, but these plans often provide limited protection and less flexibility.

Instead, use a comparison site to vet a range of options based on provider ratings, coverage types, and pricing.

5. Trusting credit card coverage alone

While many credit cards offer some form of travel insurance, they usually fall short in key areas, particularly medical coverage, which can be critical when traveling internationally.

Use a standalone policy to supplement your credit card benefits for more complete protection, especially if your trip involves significant health risks or costly cancellations.

With the cost and complexity of travel rising, comprehensive travel insurance is more than a luxury; sometimes it’s a necessity.