8 REASONS WHY TRAVEL INSURANCE IS WORTH IT

In most cases, your journey will be uneventful. You won’t have to live the nightmare of falling seriously ill or being injured in a foreign country. However, if you do, the last thing you want is to be without the support or financial means to be treated and flown home.

Though travel insurance may cost 5 to 10% of your trip cost, it is often worth the investment because it has the potential to reimburse you for hundreds of thousands of dollars in covered travel-related expenses such as emergency evacuation, medical bills, and trip cancellation and interruption costs.

Travel insurance may be worth every penny just for that reason.

1、Travel insurance is reasonably priced.

This is a basic case. Travel insurance is cost-effective. Even for individuals over the age of 60 who have health conditions.

For example, coverage for a one-week trip to Mexico can be obtained for as little as $25.

And it is surely more inexpensive than accumulating tens of thousands of dollars in hospital bills if you become ill or injured abroad.

2、BUYING YOUR POLICY IS REALLY EASY

Travel insurance is intended to safeguard you in the event of a misfortune. Not anything that has already transpired negatively. Hence, ensure that you acquire your insurance package promptly. Similar to when you first purchase your hotel and airfare.

Remember that if you are 60 or older, you must additionally fill out a brief medical questionnaire. 

The entire application process will take no more than five minutes.

3、Trip cancellation travel insurance

An unforeseen event could cause you to postpone your trip, such as if your tour operator goes out of business, you fall ill, or a family member dies. In such cases, travel insurance that includes trip cancellation coverage will compensate non-refundable, pre-paid trip expenses.

In addition, if you, a family member, or a travel partner become ill or injured while traveling, the trip cancellation element of the insurance will normally reimburse you for the unused portion of the trip. The trip cancellation benefit may also apply if you, a member of your immediate family, or a travel companion dies while traveling.

This protects you from financial loss if you are suddenly unable to travel due to illness, an accident, or the death of a close relative. Important to remember is that for this area to be useful, you must purchase travel insurance when you begin booking tickets, not a week before departure.

Please carefully review the description of coverage (policy wording) applicable to you, as not all policies cover cancellation and only some cover non-refundable, pre-paid expenses if your vacation is stopped after you’ve left home.

4、Baggage insurance

A travel insurance coverage includes baggage insurance can reimburse you if your luggage is lost, stolen, or damaged while traveling. Theft of your bags and valuables can be covered by your homeowner’s or renter’s insurance policy.

Your personal belongings are also covered by baggage insurance, so if your backpack is stolen, you can file a claim. Note that baggage insurance only reimburses you for the depreciated value of your belongings, not the amount necessary to purchase new items. In addition, there are exclusions and limits on specific products.

Additionally, some travel insurance policies cover delayed baggage. This coverage can reimburse you for items you must purchase, such as clothing and toiletries, while you wait for your luggage to arrive. Note that baggage delay benefits are subject to a stipulated waiting period before applying.

Overall, the cost of travel insurance is negligible compared to the trip expenses it protects, especially when traveling risks and surprises abound.

5、LoST PASSPORT

Time spent not on vacation but at an embassy or consulate.

A lost or stolen passport can be a major inconvenience when traveling, not to mention the fears of identity theft and the inability to travel until a replacement is obtained.

The travel support included with the majority of trip packages can connect you with the embassy or consulate and expedite the issuance of a replacement passport.

Nothing beats having a friendly voice who has been through this before on your side.

6、Travel delay insurance

Many travelers are inconvenienced by travel delays. When a flight is delayed owing to a covered reason, such as inclement weather or a mechanical fault, a policy with travel delay insurance can recover restaurant and lodging charges. Typically, the daily coverage amount ranges from $150 to $200.

The travel delay benefit may also reimburse you for unused pre-paid, non-refundable trip charges if you are unable to reach your destination on time or return home.

7、MEDICAL EVACUATION

$100,000 or more for emergency evacuation and medical facility transport.

A simple medical evacuation from a nearby, relatively accessible country, such as Canada, can cost $20,000 or more in the event of an accident or serious illness.

A complex evacuation from a more remote location or off a cruise ship could deplete your retirement savings or home-equity line of credit, and medevac companies normally do not organize transport without payment in advance. Here is where your travel insurance policy comes into play.

8、COVERAGE IS AVAILABLE FOR AN ENTIRE YEAR

Do you travel frequently?

A multi-trip insurance policy that covers you for a full year is available. Purchase it once, and you will be protected everywhere you go.