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Does Travel Insurance Cover Cash If Stolen?

Does Travel Insurance Cover Cash If Stolen?

[caption id="attachment_283" align="alignnone" width="600"]Cash Wallet Cash Is Not Covered[/caption]

A question that frequently arises is - Will my trip insurance help me if I lose money from my wallet or purse?

Unfortunately, as far as travel insurers in the USA are concerned, generally the answer is no - we have not yet seen a policy that covers any form of cash loss. The challenge seems to be that there is simply too much risk for an insurer, and the loss is far too hard to prove.

To that end, it is probably wise to carry as little cash as is possible and rely upon credit cards. Check your terms and conditions with your credit card issuer, but there are normally very strong protections in place in the event that your card is used fraudulently.

Also, travel insurers are a lot more supportive if there is a loss of a credit card. Most will offer some form of monetary support ($100 is a figure we typically see) for any costs you might incur with regard to stolen credit cards.

We always advise to pack very light when traveling, particularly with regard to documentation. At home, many of us have wallets or purses bulging with cards, receipts, notes and coins. Don't travel like this - slim down. A slim wallet, ideally kept in the front trouser pocket, will make loss much less likely.

Slim Wallet One, maybe two credit cards, some form of ID, a copy of any insurance that will help you in the event of hospitalization - that's it. Everything else stays at home, or in the hotel safe.

[caption id="attachment_284" align="alignnone" width="600"]US Passport Lock Your Passport Away[/caption]

If you do not need your passport with you for a day of tourist activities then please lock it away.  It is so easy to ruin a trip or vacation because of passport loss. If you do need some form of ID then a driver's license is normally much easier to replace at home than a passport. Many of us keep one of our expired driver's licenses in our travel wallets, simply for use when traveling.

Mr Mouse Driving License

Safe travels.

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