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Q&A: Should I buy travel insurance coverage when booking my plane ticket?

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Question by Blue T: Should I buy travel insurance coverage when booking my plane ticket?
Should I pay $ 108 for the travel insurance coverage so that I can cancel my flight for any reason just in case something happens and I could get a refund? Would it be a bad idea not to purchase something like this? My plane ticket is $ 1000. Any tips or suggestions would be appreciated, thank you.

Best answer:

Answer by mildred f
Yes, this is a good idea. You cannot cancel your trip on your own whim; it must be for certain conditions that the policy will define.

If you cancel your trip for just any reason, not included on the policy, then you pay for your tickets. Likely, not always, you can take the trip another time after you have spoken to a live person. No airline will return your money once they have it.

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  • Welcome to the insurance casino. If you don’t buy the insurance and you don’t cancel, you lose $ 0. If you do buy the insurance and don’t cancel, you lose $ 108. If you don’t buy the insurance and do cancel, you lose $ 1000, while if you do buy the insurance and do cancel, you’re out $ 108.

    So the question is, how likely are you to cancel your flight for a reason the insurance will cover. (Look at the fine print, and you will be surprised at the exclusions.) In decades of flying, I can’t remember ever cancelling a flight for a reason that insurance would cover. Unless you have a close elderly relative with frequent health crises or something like that, it’s a poor investment.

    Also, as someone else noted, in many cases you can change the dates of the trip for about $ 200, no insurance needed.