What is Travel Insurance?
Insurance is something that all of us need. It helps to protect us from unforeseen circumstances that could cause serious financial trouble for us if we were to be unlucky enough to experience them first-hand. It really doesn’t matter how happy and healthy you are, life can sometimes throw some tough challenges your way and it’s important you have the coverage you need in order to deal with them.
Travel insurance covers the cost of a traveller’s planned enjoyment, business and budget should anything go wrong. The travel insurance will cover lost or stolen baggage, medical expenses and also any delays that might occur during a holiday or business trip.
It is important to be aware of the different levels of coverage so that you can decide what best suits your needs. There are some policies which may cover other things such as cancellation, accidental death and loss of passport, and now, pandemic insurance is something to look out for in your chosen policy.
What Types of Insurance are Available
There are many types of insurance available on the market today, which can make it hard for some people to know exactly what they need. As it is such a highly personalised product, I advise you try an insurance aggregator who can compare many providers according to what your criteria are.
If you’re planning to take a vacation overseas, it’s important to consider your international travel insurance before you go. You never know what may happen while you’re there, which is why it’s important to have a plan for emergencies. This could include having the insurance company’s number or email address written or emailed to yourself, also the number for the airline, and any medical contacts that may be appropriate. It is also a good idea to find out where your country’s consulate or embassy is in case your passport needs to be replaced quickly for any reason.
Don’t forget your domestic trip insurance as well – you could easily have your phone or luggage lost or damaged on a train or a hotel room in your home country as at the airport.
How to Choose the Best Travel Insurance Policy to Suit Your Needs
The best international traveler’s insurance policy must have the coverage of medical costs, emergency evacuations, lost luggage, theft, damage and trip cancellation. You may choose to add on natural disaster cover, terrorism cover and other additions.
It is important to choose a company that has a history of providing excellent customer service. If you have questions about policies or specific concerns that need addressed, a good broker should be able to answer them quickly and efficiently.
3 Reasons You Should Buy Travel Insurance
There are three main reasons you should purchase travel insurance.
The first, and most common, reason is trip cancellation. If the tour operator or airline cancel your trip for any reason, you may not always get your money back. Travel insurance will usually cover the cost for this as a refund, and often you can claim back additional costs in the event of a last-minute cancelation, such as hotel stays or the cost of a new flight. Some policies will refund you if you need to cancel for any reason, such as illness.
Second, travel insurance covers the cost of dealing with medical emergencies that could happen during your vacation. If you need to be hospitalised or even see a doctor, it will cover the cost of treatment, and in an emergency evacuation home.
Lastly, if you are planning on purchasing expensive items while traveling abroad, travel insurance would cover these items in case they are lost or stolen. You can claim reimbursement for these items as long as you have proof of purchase- something to remember in countries where cash is king and sales are often not recorded through a till.
Why You Still Need Insurance, Even for Cheapie Getaways
So you got your Easyjet flight for £15 and are staying in a B+B for £30 a night. Why do you need insurance for such a cheap trip? Because though the trip itself might be cheap, the ramifications of something going wrong might not be. Do you have a laptop with you, an expensive phone, or a smart watch that could break or get stolen? Could you still get ill, or have an accident that costs a lot to fix in countries that don’t have socialised healthcare? Should you still have to pay for the room even if the hotel didn’t let you stay?
While all of these events are hopefully unlikely to happen, it really isn’t worth the hassle and cost to deal with it all yourself should the worst happen. And travel insurance is a small price to pay for peace of mind.