Travel Tip: How Much Travel Mishaps Could Actually Cost You [ 1:00 ] Play Now | Play in Popup | Download

It’s a no-brainer that a delayed flight, lost passport, or missing hotel reservation can wreak havoc on a trip. But do you know how much it’s costing you? Turns out, it’s a lot.

When looking at business trips, the Global Business Travel Association found that so-called travel mishaps cost an average of $1,475.

Say your flight is significantly delayed—or even canceled. It can take about 11 hours to resolve the issue, meaning you miss work and you may have to pay out-of-pocket expenses on food and hotels.

Other mishaps include losing your cell phone or important documents. Medical issues on the road are another common issue, with as many as 14 percent of people saying they got sick or injured while traveling.

Of course, no surprise here—the study was funded by an insurance company. But the lessons are still sound.

No matter why you’re traveling—whether it’s for business or pleasure—preparation is key, or you might end up paying a lot more than you bargained for.

For more information, visit the Travel Insurance Archives.

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