Traveling Cheap and Keeping it Safe – Step VI

Being mindful of what resources you have and how travel could impact them is an important part of financial wellness. Thinking through potential travel risks ahead of time will save you money and reduce anxiety in the long run.

Let’s start with your Personal Property. If you have renters or homeowners insurance, your personal belongings are protected at your place of residence only.¬†Your policy describes what types of loss is covered, so it’s good to review it.


You might want to consider adding a Personal Articles Policy if you want to protect personal items such as a camera, drone, laptop or any other high valued property.

Also called an Inland Marine Policy, it literally protects each itemized article against a wide range of risks – such as loss, theft, breakage and more. Think of it as bubble wrapping your favorite things. If your camera falls in the ocean or your drone crashes into a cliff, your vacation wouldn’t be ruined.

Next, let’s think about Transportation. If you will be driving any type of motorized vehicle, boat or plane, you need to make sure you have Liability Coverage. If you cause damage to another person or someone else’s property, are you protected? Have a quick chat with your insurance company to make sure you have what you need. It’s usually unnecessary to purchase car rental insurance, but doing a little research before you travel will save you from potential headaches.

Finally, the most important protection, your well being and Health Insurance. A few things to consider before traveling, includes access to prescriptions, clinics or urgent care facilities and a list of your medical providers with contact numbers. There is short term health insurance available if needed. Again, it will reduce anxiety by thinking these things through ahead of time and understanding what options you have if something comes up along the way.

STEP 6: Double down on protection. Understand what resources you have, what other insurance options you might want to add and actions steps to take if something goes wrong. Know before you go.

Would love to hear your thoughts and questions! Travel smart and be well.


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