Why I need a Travel Insurance?

Tavel insurance can seem like one more expense, and many travellers ask the question why buy travel insurance. 

This statement is true “If you can’t afford travel insurance, you can’t afford to travel”? 

I wouldn’t go quite that far, I do agree that you really should set aside some of your holiday budget for insurance. It is is extremely important when you go overseas, whether it’s on a package tour or a free and easy trip. I have seen lots of examples where travel insurance helped to salvage a trip. From comparatively small inconveniences to serious health issues. Travel insurance offers protection for so many situations that we strongly recommend going on holiday only if you plan to buy travel insurance. Travel insurance is all about feeling safe, protected and ready for the unexpected.

Here are some excuses which I heard from friends to why they don’t buy Travel Insurance. 

1. I don’t need travel insurance! I’ve travelled so many times and nothing has ever happened to me.

You never know when you’re gonna fall sick. If it’s just a slight cold you can get by with over the counter medicine, but what if you come down with a serious case of gastroenteritis also called stomach flu? Food poisoning is no joke either. Dehydration is a very serious risk, and you could end up in the hospital. If you’re engaging in any sort of high-risk activities on your trip you should definitely get travel insurance with medical coverage too! Being hospitalised as a foreigner can put a massive hole in your pocket, bigger than an insurance policy costs. In case of emergency medical evacuation or other emergencies can impact on your bank account. Don’t risk it, that will be my personal advice.

2. I am healthy! I’m sure I won’t need the medical coverage.

Travel insurance doesn’t just cover medical issues. Air travel is getting more and more common, especially since the rise of budget carriers. Do you really think that you’ll never be faced with a flight delay? As airports have to handle ever increasing amounts of baggage, do you think your check-in luggage will always arrive together with you? Luggage can be delayed, sent on a wrong flight or even go missing. Replacing the luggage is one things – the hassle of having to replace all the items that you packed is going to be a huge pain. If you buy travel insurance that covers delayed or lost baggage, however, you can happily go on a shopping spree to replace your items. Best of all, this shopping spree will be covered by your insurance payout (up to a certain amount, of course).

Also, what happens if your credit card details get stolen and your card is used fraudulently? Credit card fraud is not uncommon. Surely you want your liability to be limited in this case. This is where travel insurance comes in.

3. Travel insurance is expensive! I can spend that money on shopping or having good time. 

The lump sum you need to fork out may seem high, but if you break it down to the cost per day, you may find that the daily cost is actually very acceptable. As with all things, shop around! Take a look at the different plans and check out what they cover. Find the plan which suit you, where it covers the maximum for the minimum price. You should also do a search for which insurance providers are running promotions. You may just be lucky enough to score a great discount on your protection.

4. Not sure from what date it covers so why bother buying one?

If you read the fine print, you’ll be surprised to find that there are travel insurance plans that cover you before and even after your trip. Coverage before your trip includes clauses that protect you in case you need to cancel your travel plans due to illness, accidents or even death of a family member. You can also be protected in cases of travel cancellation due to insolvency. Of course, and this is one of the most common benefits, you can also be reimbursed if your travel plans are delayed due to issues that aren’t your fault such as the aeroplane’s mechanical fault.

What you may not know is that some travel plans even protect you after your trip. Look closely at the medical coverage section as some policies offer post trip medical expenses coverage if you visit the doctor within 24 hours of arriving back home. 

Travel insurance protects you before, during and after your trip. The amount you pay for an insurance policy is not much compared to the peace of mind you get from it. Be sure to purchase it early, I would recommend buying insurance once you’ve booked and confirmed your travel plans to maximise protection. Remember to compare coverage too! Don’t just go for the cheapest plan, because only you can decide how much coverage you want and how much you’re willing to pay for it.

Why you must Buy Travel Insurance:

When you have travel insurance with trip cancellation benefits, you can get reimbursement for prepaid, nonrefundable trip costs when you must cancel for a covered reason. Covered reasons can include situations like the covered serious illness or injury of the insured person, a travel companion or a family member; the death of the insured traveler, traveling companion or a family member; a natural disaster or other event that renders your destination uninhabitable.

Travel insurers offer a variety of policies that include cover for individuals, families and couples, and some also offer multi-trip and annual policies for frequent travellers.

Other common reasons to must have travel insurance are……

  • You need emergency assistance including financial help
  • Need to cancel your trip in case of emergency
  • Missed your connecting flight and need to rebook
  • Flight got cancelled or rescheduled 
  • Natural disaster or terrorist event occurred
  • Baggage delayed or lost
  • You had medical emergency and have to change plan
  • Travel Insurance gives you leading hospital, accident and medical evacuation expense cover while you’re travelling
  • Lost passport, credit card or wallet
  • Peace of Mind for Personal Liability

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