Are You Traveling In The U.S. Or Internationally?
Traveling within the U.S. typically costs less than traveling abroad. This means your out-of-pocket losses are usually lower if you must cancel your trip at the last minute. In that case, you may want to skip the cost of purchasing travel insurance.
If you're traveling out of the country, your trip may cost more. This makes insurance more important. Also, your health insurance might not cover you outside the U.S. Even if they do cover customary and reasonable hospital costs while you're abroad, most don't cover medical evacuations3 back to the U.S.
Do Debit And Credit Cards Provide Some Coverage?
Some credit cards, including the Synovus Travel Rewards Visa Credit Card, include travel insurance benefits. For example, your credit card company might cover your non-refundable expenses if you have to cancel your trip. You just need to make sure you pay for those expenses with that credit card to access that coverage.
Credit cards may also cover you for:
- Medical evacuation.
- Medical bills not covered by your insurance.
- Lost luggage.
- Damage to a rental car.
Not all credit cards offer these perks. that's why it's key to read the card's terms and conditions to see what is — and isn't — included. Some debit cards, such as the Synovus Visa Business Debit Card provide travel and emergency assistance services offer benefits such as assistance with visas or immunizations, or even emergency transportation.
Are There Travel Restrictions At Your Destination (Or Could There Be Soon)?
The COVID-19 pandemic changed many travel plans. And travel guidelines, restrictions, and recommendations continue to evolve. For example:
- Some countries don't allow U.S. tourists.
- Some require a negative COVID-19 test to enter.
- Some require quarantines and health screenings upon arrival.
- Some allow exceptions for fully vaccinated travelers.4
Countries can change their rules at any time.
Most standard travel insurance policies cover losses for canceling your trip due to contracting COVID-19. But you may not be covered if you cancel your trip due to COVID-19 fears — unless you have “cancel for any reason" coverage. Some plans cover cancellations if you're unable to access the place where you planned to travel.
In any event, it's important to read the policy's terms and conditions because some travel insurance policies specifically exclude coverage for pandemics or COVID-19.5
You may not need to buy travel insurance if you're already covered for most situations through your credit card's travel benefits. If you purchase separate travel insurance, be sure to read the fine print. This ensures you get the coverage you need and don't pay for a plan that doesn't include everything you thought it would.