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How much travel insurance?

Posted by (Georgia) on

I have a family trip to Germany this summer. It seems like everywhere I look for travel insurance is based on how much the trip will cost. I am trying to figure out how much cost I need to cover. The way I look at it, it should potentially cover reservations only such as airfare, rental car and hotels where it is non-refundable.

Airfare: Definitely cover
Rental car: For minimum fee, I can cancel anytime before pickup date.
Hotels: For minimal extra fee, I can cancel up to 48 hours before reservation date.

It seems to me that is cheaper and easier to pay the minimal fee for the flexibility in the rental car and hotels, vs paying for insurance to cover this.

Am I missing something?

I do plan on getting some medical travel insurance.

Thanks.

Posted by
135 posts

The most important insurance is for health-problems: doctors, hospitals, emergencies, even for emergency transport home.

Posted by
1782 posts

Only include the cost of any nonrefundable prepaid purchases that you can't afford to cover on your own.

For example, if your airfare allows for a refund or travel credit, that would not be included in your trip cost. Will your hotel become nonrefundable less than 48 hrs before arrival? Can you afford to lose that money or do you want insurance to cover it?

Maybe you have a travel credit card like Chase Sapphire or AX or Capital One Venture that already provides you some coverage?

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