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Recreation
The primary reason for purchasing insurance is trip cancellation /interruption protection, not medical however if you are on medicare remember that you are NOT covered outside the US.
Most brochures break down the costs in a chart against your age. This is reasonable as long as you are young but as you get older, you may need the package insurance from a tour operator instead. It’s not thorough but it will protect you and is cheaper. The caution is usually against getting insurance from the company being insured (something akin to the fox and the hen house).
One question to ask yourself before the purchase is “will we choose to return home early if a family member were to be injured or sickened while we were away”? Some people have agreements with family members at home that they are to be kept informed but the trip will continue. Some people will fly home instead preferring to be present. All of these things influence how much insurance you buy.
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But the most important reason of all to buy it is to protect the travel items you’ve pre-booked and paid for ahead of time. Canceling can often result in heavy penalties especially airline tickets & hotels.
Unless you elect to, it is not necessary to insure every dollar you are spending. Just focus on WHAT YOU STAND TO LOSE if things go wrong. Focus only on the penalties for changing and canceling.
Many people will tell you regarding currency purchase that all you need when you travel is your ATM card. I have only one reply. If it is rejected by a bank machine or worse yet sucked inside never to return, what do you do then?
It is true that using a credit card is the economical way to make most purchases. You get the best exchange rate and it’s just as easy as it is here. Remember though to let your cardholder bank know that you are leaving the country. They will deny purchases made in a location too far from your home unless you first let them know of your plans.
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