When You Don’t Need Travel Insurance – Forbes Advisor

Travel insurance provides valuable coverage that protects your trip investment when you venture away from home. But you may not need travel insurance for every type of vacation or business trip.

In some cases, travel insurance benefits may be redundant to other coverage you may have. In other instances, it may not make sense to pay for travel insurance benefits that won’t apply to your circumstances.

You Don’t Need Travel Insurance For…

Here we explain how to avoid buying travel insurance when you don’t need it.

Business Travel

If your company is booking and paying for your domestic business trip, you likely don’t need your own travel insurance plan.

“Often with business travel, you do not have out-of-pocket expenses,” says Bailey Foster, vice president of trip insurance with Trawick International, a travel insurance company. “Travel insurance covers pre-paid, non-refundable trip expenses, so with no investment of your own, there would be no expenses for you to insure.”

Your own health insurance plan will cover you if you get ill or injured during a domestic business trip. But your U.S. health plan may provide limited or no coverage abroad.

If your business trip takes you outside of the country, you should check with your employer to see if your company has business travel insurance that includes travel medical insurance that covers you. If it doesn’t, you should consider buying travel medical expense insurance.

If you’re self-employed and paying for your own business trip, you should consider buying travel insurance, especially for trips outside of the U.S.

Related: Travel insurance for business travelers

A cheap domestic trip

If you can afford to lose the cost of your trip, you may not need travel insurance.

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