When it comes to travel, what are your thoughts on travel insurance? Would you travel without it? Or do you risk it all and go without any coverage at all? Surprisingly, in 2025, around 65% of millennials traveled outside of the US without any type of travel insurance, and this figure rises to 63% when you look at all travelers.
But the thing is, even though it feels like an added expense, there can be many drawbacks if you get caught out when traveling without insurance at all. And for the small fee you get charged, especially if you have preexisting conditions, is it really a risk you want to take?
Let’s take a look at some of the benefits of travelling with travel insurance.
Cancellation Cover
Sometimes even the best laid plans go awry, and in the event of your trip being cancelled, travel insurance can ensure you are reimbursed. Obviously, there might be exclusions and terms and conditions to meet to get the payout, but reading the small print can alert you to these. But relying on your travel providers to pay out if things get cancelled will leave you out of pocket. Travel insurance gets you your money back.
Accidents Happen
Sadly, accidents can and do happen. And if you don’t want to rely on fundraising to help you pay for medical bills or to be repatriated, travel insurance is a must. Remember, your health insurance isn’t applicable overseas, so you need a way to cover any medical costs, and providers like Generali often have generous levels of cover for you to cover such costs, so you’re not paying out of pocket.
Want to risk it? Just do a quick search of how much it can cost to need medical transport home in the event something goes wrong, or how much emergency operations could set you back. Can you cover these costs? If the answer is no, you know what to do.
Things Go Missing
One missing bag can derail a whole trip, and if you don’t get it back, then that’s potentially hundreds, if not thousands of dollars of items you need to replace for your trip, and when you get home, potentially too.
Insurance can pay out for bags that go missing and don’t ever show back up, as well as bags that are delayed too long — reports suggest that only 34% of people who have their luggage go missing when traveling are actually reunited with it.
Being able to make a claim to help you buy essentials when you land can help reduce stress and worry and allow you to get back to enjoying the trip you’ve been waiting for.
You Get Help
Most insurance companies have helplines you can access 24/7 from anywhere in the world. Whether it’s using an app or calling a helpline, they can assist with things like reporting crimes, a lost passport, helping in a medical emergency, or navigating a natural disaster. If you’re in trouble, one call to your provider and you can get help and information that makes things a bit easier for you until you get back home.
