Jane Dotson
If you're wondering whether to insure your airline ticket, you're probably considering the possibility of unforeseen events that could disrupt your travel plans. Flight insurance is a coverage option that protects the cost of your non-refundable flight in the event of unexpected circumstances such as delays, cancellations, medical emergencies, or lost/damaged luggage. It is typically offered as an add-on when booking directly with an airline or through third-party sites/companies. While it can provide peace of mind, it's important to note that flight insurance has lower plan limits compared to comprehensive travel insurance, which covers both flight-related and non-flight issues. Therefore, if you have significant investments in your travel arrangements beyond just the flight, comprehensive travel insurance may be a more suitable option to ensure adequate coverage for your entire trip.
Should I insure my airline ticket?
| Characteristics | Values |
|---|---|
| When to buy | Flight insurance can be purchased within 24 hours of your trip departure date. However, comprehensive travel insurance plans offer early purchase benefits if you buy at the time of booking or shortly after. |
| Coverage | Flight insurance covers non-refundable airfare in the event of unexpected circumstances, including delays, cancellations, and documented medical reasons. It also covers lost, damaged, or stolen luggage. |
| Cost | The cost of flight insurance varies depending on the provider and the plan's specifics, such as the trip cost, age, and length of the trip. It is generally lower than other types of coverage. |
| Alternatives | Comprehensive travel insurance covers a broader range of events and offers higher maximum plan values. It can insure your entire trip, including flights and non-flight issues like medical emergencies. |
| Considerations | Review the airline's change and cancellation policies before purchasing flight insurance. Some airlines offer consumer-friendly policies that allow changes or cancellations with full refunds or flight credits. |
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What You'll Learn
Pros and cons of flight insurance
Flight insurance is a coverage option that is often available as an add-on when booking an airline ticket, either directly from an airline or through a third-party site. It covers non-refundable airfare in the event of unexpected travel disruptions, such as delays, cancellations, or medical emergencies.
Pros of Flight Insurance:
- Reimbursement for Non-refundable Flights: Flight insurance can protect your financial investment in non-refundable airfare if you need to cancel or interrupt your trip due to covered reasons. This is especially useful if you can't afford to lose the money spent on your flight.
- Coverage for Delays and Cancellations: Flight insurance can provide compensation or reimbursement for expenses incurred due to flight delays or cancellations, such as hotel stays or meals.
- Baggage Coverage: It can provide reimbursement for lost, stolen, or damaged luggage during your trip, giving you peace of mind.
- Medical Coverage: Some flight insurance plans offer medical coverage for emergencies during your trip, including medical evacuation if needed.
Cons of Flight Insurance:
- Limited Coverage: Flight insurance typically covers only flight-related expenses and may not include other aspects of your trip, such as lodging, rental cars, or excursions. It's important to read the fine print to understand what is and isn't covered.
- Potential for Redundancy: If your trip involves significant investments in other areas, such as non-refundable hotel costs or pre-paid excursions, flight insurance may not provide sufficient coverage. In such cases, comprehensive travel insurance might be a better option.
- Varying Policies and Costs: Flight insurance policies and costs can vary widely across different providers and airlines. It's essential to shop around and compare policies to ensure you get the coverage that meets your specific needs.
- Potential for Existing Coverage: Before purchasing flight insurance, it's worth checking if your credit card offers any travel insurance benefits or if the airline's policies already include flexible cancellation or change options.
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When to buy flight insurance
Flight insurance is a coverage option that is often available as an add-on when booking an airline ticket. It is worth buying flight insurance when you want coverage for non-refundable flight costs. This includes costs incurred due to trip delays, cancellations, interruptions, and lost, damaged, or stolen luggage.
Flight insurance is also worth considering when you want coverage for flight-related inconveniences, such as missing a connection or a tarmac delay. Some flight insurance plans even offer flight-specific accidental death and dismemberment insurance.
You may not need flight insurance if you have purchased a ticket that allows for free changes and cancellations or if you have comprehensive travel insurance that covers pre-paid, non-refundable expenses. Additionally, federal law mandates that airlines refund your airfare if your flight is canceled or significantly changed, and you don't accept an alternative flight or travel credits.
When buying flight insurance, it is important to compare policies and prices to ensure you get the coverage you need. You can typically buy flight insurance from an airline or a third-party travel insurance company, either at the time of booking or within 24 hours of your trip departure date.
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Comprehensive travel insurance vs flight insurance
When planning a trip, it's essential to consider getting travel insurance to protect yourself from unforeseen events that may disrupt your travel plans. Two common types of travel insurance are comprehensive travel insurance and flight insurance. While both options offer financial protection, they differ in terms of the scope and extent of their coverage.
Comprehensive travel insurance is a robust form of coverage that offers a wide range of benefits to travellers. It is designed to protect travellers from a variety of potential risks and provide assistance in case of unexpected events. This type of insurance typically covers trip cancellation, trip interruption, baggage loss or delay, medical emergencies, emergency evacuation, 24-hour traveller assistance, and accidental death. Some comprehensive plans may also offer additional coverage, such as rental car damage or financial default. These plans are ideal for travellers seeking extensive protection and peace of mind during their journey.
On the other hand, flight insurance is a more focused type of coverage that primarily protects the cost of your non-refundable flight. It is often available as an add-on when booking your airline ticket, either directly from the airline or through a third-party site. Flight insurance typically covers unexpected events related to air travel, such as flight delays, trip cancellations or interruptions, and lost, damaged, or stolen luggage. It may also include medical coverage, depending on the policy. This type of insurance is suitable for travellers who want protection specifically for their flight and any associated issues.
One key difference between comprehensive travel insurance and flight insurance is the range of covered events and the maximum value of coverage. Comprehensive travel insurance usually offers a broader range of benefits and higher limits on the maximum plan value. It covers both flight-related and non-flight issues, ensuring that travellers are protected throughout their trip. In contrast, flight insurance has lower maximum values and narrower coverage, focusing primarily on air travel-related concerns.
When deciding between comprehensive travel insurance and flight insurance, it's important to consider your specific needs and the nature of your trip. If you have made significant investments in your travel arrangements beyond just the flight, such as prepaid excursions or non-refundable hotel accommodations, comprehensive travel insurance may be a better option. It provides coverage for a wider range of potential issues and can offer higher reimbursement limits. On the other hand, if your primary concern is protecting the cost of your non-refundable flight, and you don't have significant expenses related to other aspects of your trip, flight insurance may be sufficient.
Additionally, it's worth noting that some airlines have consumer-friendly policies that allow for changes or cancellations without additional costs. In such cases, purchasing separate flight insurance may not be necessary. However, it's always a good idea to carefully review the terms and conditions of your booking, as well as the coverage offered by any insurance plan, to make an informed decision that best suits your travel needs.
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What does flight insurance cover?
Flight insurance is a type of insurance that covers your airline costs if your flight plans don’t go as expected. It is an agreement you make with a travel insurance company, airline, or travel agency concerning any flight-related funds or assistance you’re due under specific circumstances. It covers flight expenses only, meaning lodging, rental cars, and other trip aspects are not covered.
Flight insurance can be worthwhile if you can’t afford to lose the money you paid for non-refundable airfare when unexpected circumstances disrupt your travel plans. This can include delays and cancellations. It is also worth considering if you can’t get a refund or credit for airfare through the airline or the credit card you used to book the trip.
Some flight-specific insurance policies cover cancellations, while others do not, and the same goes for medical expense coverage. For example, the Flight Insure Plus plan from Travelex costs $58 and does not include cancellation coverage, but provides $10,000 in medical expense benefits and $100,000 in medical evacuation coverage. On the other hand, the Travel Guard Preferred policy from AIG costs about $431 and provides $50,000 in travel medical expenses and $500,000 in medical evacuation coverage, per person.
If you fly on Delta or American Airlines, which partner with Allianz Travel, you can buy comprehensive travel insurance that includes benefits for trip interruption, trip cancellation, trip and baggage delay coverage, and travel medical insurance for international trips. United, Expedia, and Travelocity offer standard travel insurance through AIG, which sells Travel Guard policies.
If you use airline miles to book an award ticket, the flight insurance offered during the checkout process typically covers a redeposit of your miles back to your frequent flyer account if the trip is canceled. Comprehensive trip insurance policies and credit card travel insurance will reimburse you for the taxes and fees paid on award tickets but may not cover the miles.
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How much does flight insurance cost?
The cost of flight insurance is dependent on a variety of factors, including the length of your trip, your age, and your destination. The price of your trip is also a significant factor in determining the cost of your insurance. The more you spend on your trip, the higher the potential claim payout is for the travel insurance company.
On average, travel insurance costs between 4% and 12% of your total trip cost. For example, for a $1,000 trip, you can expect to pay around $61 for travel insurance, while a $20,000 trip may cost over $1,200 to insure. The cost of travel insurance can also vary depending on the level of coverage you require. Basic plans are cheaper than luxury plans as they provide lower coverage limits. For instance, the ExactCare policy from Berkshire Hathaway Travel Protection costs $131 and includes $25,000 in travel medical benefits and $500,000 in medical evacuation insurance. In contrast, the LuxuryCare plan costs nearly twice as much and provides $100,000 in medical expense coverage and $1 million in evacuation benefits.
It is worth noting that some credit cards offer complimentary travel insurance, although the limits may be lower than you prefer. Therefore, it is important to do your research and compare quotes from multiple insurers to find the best coverage for your needs.
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Frequently asked questions
Flight insurance is a coverage option that is often available as an add-on when booking an airline ticket. It covers non-refundable airfare in the event of unexpected circumstances that disrupt your travel plans, such as delays, cancellations, or medical emergencies.
Flight insurance can provide peace of mind and protect your investment in the event of unexpected delays, cancellations, or other travel disruptions. It covers non-refundable flight costs, which can be significant, especially if you have to cancel your trip last minute.
Flight insurance typically covers unexpected events related to air travel, such as flight delays, trip cancellations or interruptions, lost, damaged, or stolen luggage, and documented medical reasons preventing you from flying. Some policies also offer additional benefits, such as travel inconvenience payments or emergency travel assistance.
You can purchase flight insurance directly from the airline or through a third-party travel insurance company. It is often offered as an add-on during the checkout process when booking your flight. You can also buy a policy from a travel insurance provider after booking your trip. Compare different providers and plans to find the best coverage and benefits for your needs.
