Your honeymoon is supposed to be one of the best times of your life. It is the start of your life together with your newly wed life partner. This is your first time taking on the world as a married couple! Now comes the question, should you protect your trip with honeymoon travel insurance?
Because there is so much excitement and time leading up to your big trip, there are so many things any couple focuses on when planning their honeymoon. You will dream over where to go, take off work for however long you can, and start planning.
While you are figuring out what hotel you are going to stay at, booking your plane tickets and planning your best outfits to pack, you may think that you have the entire trip perfectly planned. No matter how much you plan and how much you think you have this thing under control, there are some things that you just cannot possibly plan for.
Maybe there is a hurricane that wipes out your honeymoon the week before you are supposed to arrive, or maybe you get extremely sick, too sick to travel. If the COVID pandemic has taught us anything, it is to always try to prepare for the unexpected. We don’t know when things will change so it is always important to prepare for the worst. When planning your perfect honeymoon, you have to prepare for the worst. In case something happens and you and your newly wed are unable to go on your honeymoon, you should absolutely get honeymoon travel insurance.
What is honeymoon travel insurance?
Honeymoon travel insurance is an insurance plan that protects certain financial risks and losses that occur when traveling.
Most honeymoon travel insurance covers various substantial financial risks such as trip cancellation coverage which provinces you reimbursement for your already paid trip costs, missed connection coverage meaning if you miss your connecting flight you can get reimbursed, medical coverage and even more.
Medical coverage provides you with reimbursement or advance payment for you and your newly wed to receive medical care all around the world if you are injured or become ill while on your honeymoon. Honeymoon travel insurance can even cover any lost or delayed baggage. So yeah, this covers a lot! Almost any inconvenience or travel struggle you can think of is fully or at least partially covered by travel insurance.
It is also possible to get special adventure coverage, which waives regular exclusions for adventure activities such as climbing, diving, or participating in any other “adventure” activity. This is a great idea if you and your new spouse are planning to participate in any of these fun adventures, otherwise your medical and other coverage may be limited!
There is an even more comprehensive coverage policy called cancel for any reason which provides you with reimbursement if your trip is canceled for any reason, even reasons that are not covered by usual or basic cancellation coverage. This insurance is a bit more expensive but if you are dishing out a significant amount of money on this trip and think there might be a possible reason for cancelation, this insurance is definitely worth looking into.
Why you should get honeymoon travel insurance
Your honeymoon is a big investment! While you can plan for every single detail, you do not want to be left out to try when something unpredictable happens. There are a lot of costs associated with starting a new life with your newly wed. You might start thinking about putting a down payment on a house or an apartment, thinking about children, or purchasing a car. Not to mention weddings themselves are pretty expensive! When planning your honeymoon, you do not want to be wasting a single penny.
While you do have to pay for your honeymoon travel insurance, you should seriously consider it. Your honeymoon is a huge investment and you don’t want any hiccups to happen that would result in you losing a significant amount of money. Honeymoon travel insurance allows you to relax and focus on planning your outfits, packing list and activities, rather than stressing about what will happen if your trip gets canceled or something goes wrong.
How much does honeymoon travel insurance cost?
As we said, it is not free to obtain travel insurance, but it is absolutely worth it. Luckily, honeymoon travel insurance is not too expensive.
Typically, honeymoon travel insurance costs about 4-8% of your total trip cost, but this is dependent on a few factors such as the length of your trip, your age, and whether or not you’ll be participating in adventure activities. Honeymoon travel insurance with the most coverage, cancel for any reason, will be a little more expensive. This insurance will probably cost closer to around 10% of your trip’s cost. A good rule of thumb is if the policy costs under 4% of your trip’s cost, you are probably not getting enough coverage. If it costs more than 10% of your trip’s cost, you are probably paying too much for the same amount of coverage.
Finding a good honeymoon travel insurance policy
Like any kind of insurance, it can be intimidating researching and realizing just how many policies are available. It can be hard to determine which are the best and which ones are scamming you with too high of prices or not enough coverage. You have a few options when purchasing your honeymoon travel insurance. You can either purchase the travel insurance directly from a third party company or with the help of a travel agency. Typically, it will be cheaper to cut out the middleman and go directly to the third party company to purchase your travel insurance.
Travel agents tend to earn extra commission if they sell travel insurance, meaning they might try to oversell you on coverage that is too expensive and extensive than what you need. Additionally, travel agents may have a limited number of plans and insurance providers that they work with, seriously limiting your options and again, potentially preventing you from finding the plan best for you. Travel agencies tend to have worse coverage plans that do not cover anything purchased outside of the agency, while coverage from insurance provider companies will pay for anything, usually.
How long before your honeymoon should you purchase your travel insurance?
Like most other kinds of insurance, filing and issuing claims can take longer than expected. For travel insurance, it can typically take up to four weeks to find out if your claim was approved. For this reason, it is smart to look into travel insurance as soon as you start making payments on your trip. This way, you will be sure to have your insurance plan in place well before anything goes wrong.
Keep an eye out for scams
Unfortunately, our world is full of scams. The travel insurance industry is regulated and it is easy to know what is legitimate when you know what to look for. You should always check and make sure that the insurance company you are purchasing from is a state-licensed agent and that they are backed by regulated underwriters. Some travel agencies have gotten in trouble for not having legitimate underwriters backing their insurance policies, another reason to go straight to a third party. Make sure that the third party you are purchasing from is rated by A.M. Best, it is a reliable worldwide insurance rating and information agency.
As you should do with all policies and insurance, you should carefully read what is covered and what is not covered in any honeymoon travel insurance you are thinking of purchasing. By not doing this, you risk purchasing a policy that does not cover important factors such as medical needs or travel accommodation changes. You should always browse many different policies before deciding on one to make sure you are getting a plan that is of great value and the right coverage.
Your honeymoon is a huge investment and is your first time taking on the world with your newly wed! Given the excitement, the planning and the investment that goes into your honeymoon, it is not worth it to take any risks. Purchasing honeymoon travel insurance will give you peace of mind knowing you can tackle any problem that presents itself.