The Grow Your Wealthy Mindset Podcast

Episode 157: Do You Really Need Travel Insurance? What to Know Before Your Next Trip

Elisa Chiang Season 3 Episode 157

Last week, we explored the role of insurance in protecting your assets. This week, we’re zooming in on a type of insurance that often flies under the radar: travel insurance. Whether you're climbing Mount Kilimanjaro, cruising to Antarctica, or simply flying cross-country, travel insurance can make or break your trip financially if something goes wrong.

 

In this episode, I share:

  • When travel insurance is actually worth buying
  • The difference between credit card travel protection and comprehensive travel insurance
  • Why I canceled my Chase Sapphire Preferred after a frustrating insurance claim
  • How to evaluate the real value of travel coverage, especially when traveling internationally
  • The pros and cons of single-trip vs. annual travel insurance
  • Which companies are most reputable and what to look for in a policy

 

From missed connections to emergency evacuations, I’ll help you decide when it makes sense to get coverage — and how to avoid wasting money on insurance that won’t pay when you need it most.

 

Key Takeaways

  • Credit card travel insurance can be helpful for minor issues, but often lacks the customer support or reimbursement success for larger claims.
  • Comprehensive travel insurance offers coverage for emergencies, medical care, and trip cancellations — crucial for expensive or adventurous trips.
  • Consider annual plans if you travel frequently.
  • Always read the fine print and check what’s truly covered before buying.

 

Mentioned Travel Insurance Companies

  • Allianz Travel Insurance 
  • World Nomads
  • AIG Travel Guard
  • IMG
  • Travelex Insurance
  • American Express Travel Insurance

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Dr. Elisa Chiang is a physician and money coach who helps other doctors reach their financial goals by mastering their money mindset through personalized 1:1 coaching .

You can learn more about Elisa at her website or follow her on social media.

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