Reasons Why You Might Need Travel Insurance
There is nothing like traveling, but it can also be risky. You never know what you might encounter when you're away from home, so it's always wise to have travel insurance. Those who don't get it and fall victim to scams, theft, or injury can put a severe dent in your bank account.
Where Can You Find Travel Insurance?
These days, it is incredibly straightforward to find the right travel insurance for your needs. Most people will begin their search online and then see which things they want to insure. Generally speaking, you will need insurance that covers the essential parts of traveling such as the travel itself, medical emergencies including accidents from tours, and theft protection. Additionally, if you need travel insurance, you should also see if they offer some form of remittance if you lose your passport and need to make expensive arrangements to get an emergency one. Once you have found insurance that you think is suitable, ensure that you read the fine print and see what is excluded and under what circumstances they might deny you a claim.
Do You Really Need It?
This is a good question because some travelers believe that nothing unforeseen will happen and that insurance is a waste of money. Insurance is one of those things in which it is better to have it and not need it, instead to need it and not have it. While many countries offer affordable medical care, if you need to be medically evacuated and don't have insurance, you will find yourself with serious money issues. Nonetheless, there are other more mundane reasons why insurance is recommended.
It Can Provide Coverage For Lost Or Stolen Luggage
Most people think of travel safety when they think about travel insurance. This is because you need to have insurance in place if something goes wrong and you get sick, injured, or have to deal with delayed flights. However, travelers also need to consider their luggage coverage while on vacation. What nobody wants to worry about when they're on vacation is what will happen if you lose all your belongings. Travel insurance includes coverage for lost or stolen luggage, but it may come with limitations. If you are traveling by air, some travel insurance policies cover lost or stolen luggage. These policies will typically have a provision that states they will cover the insured for $1,500 per passenger. Additionally, some policies require the insured to claim within 24 hours of discovering that their luggage is missing. If this is not done within the time frame allotted by the policy, then any coverage provided is voided.
You Might Need Trip Cancellation Insurance
If you have any emergency medical condition and need to cancel your trip at the last minute, they will reimburse you for the cost of your tickets and money back from any non-refundable deposits. This type of insurance is very convenient because it doesn't require a long waiting period before coverage starts like many other types of travel insurance. There are many benefits to purchasing this type of insurance, one of the main ones being the peace of mind it provides to travelers who have purchased a ticket and have planned their itinerary. Without this insurance, a traveler could be faced with the possibility of incurring additional expenses for things like hotel rooms, meals, and other travel-related services if something happens to disrupt their trip. While most insurance companies will include this or offer it as a paid extra, some will not. Consequently, it is your responsibility to make sure you are protected against this scenario. Some of the more common features of coverage include:
- Trip cancellation: If you have to cancel your trip due to ill health or another reason, your insurance will reimburse you the amount you paid.
- Trip interruption: This has become more common thanks to the COVID-19 pandemic, and many travelers found themselves stuck in foreign countries and unable to leave.
- Flight cancellation/travel delay: In some unforeseen circumstances, it could be that your trip gets canceled or delayed for an excessive period.
- Supplier bankruptcy: This one is more common than most people think. If the travel agency you booked with goes bankrupt, their suppliers might not honor your trip. Therefore you will need insurance to pay you back what you are owed.
Medical emergency travel insurance is a type of insurance that helps the traveler if they encounter a medical emergency while traveling. The insurance policy will cover any expenses incurred by the traveler and any family members accompanying them on the trip. Travelers should consider this type of insurance if they are going to be traveling alone or with a group if they'll be visiting dangerous areas or staying in areas inaccessible by ambulance. Most importantly, you should purchase medical emergency travel insurance before you leave on your journey to ensure your peace of mind during your travels. Generally speaking, most high-quality insurance providers will offer:
- Emergency medical insurance: This can range from fixing broken bones to stabilizing you if you get tropical diseases like malaria, Dengue fever, etc.
- Emergency medical evacuation: If your situation is grave enough, you might need to be evacuated to the nearest quality hospital or a neighboring country. For example, most travelers to countries like Laos or Myanmar will be evacuated to Thailand if the situation is severe enough. The same goes for anywhere else in the world.
- Accidental death: Although it doesn't bear thinking about, your body will need to be repatriated in the case of untimely death.
If You Become A Victim Of Theft Or Fraud
If you have your money or personal belongings stolen when on holiday, it can ruin your trip. Nevertheless, if you are insured, you are likely to be paid back the amount in question. Although insurance can never bring back your holiday photos from a stolen camera, it can alleviate the inconvenience of the theft. Moreover, insurance might also assist you if you have been a victim of fraud such as ATM card skimming.
A traveling experience is something that everyone should experience at least once in their life. But imagine if you need to cover the cost of any medical emergencies while you're away. Insurance is often necessary when traveling, if only for peace of mind.