- Travel insurance cushions you from financial losses if something goes wrong with your trip.
- Medical emergencies in a different country can be costly, and travel insurance helps to cover those costs.
- In the event of a disaster, your travel insurance will cover the cost of the evacuation and repatriation.
Did you know travel insurance reimburses air tickets and other costs in the event of a trip cancellation?
You also get reimbursed for lost items while on your trip. This, coupled with the fact that any medical emergency costs will be covered, makes it a must-have if you plan to travel.
You are also assured of emergency evacuation should disaster strike during your trip. This will give you peace of mind as you travel to vacation spots with the potential for natural disasters such as floods, volcanic eruptions, and earthquakes.
What are the benefits of travel insurance?
Travel insurance covers medical treatment and financial loss during your trip. Below are the main reasons why travel insurance is necessary;
- You are planning an expensive trip with a lot of non-refundable costs
- You have an existing health condition
- You are traveling to a remote area
- You are traveling to a place that your current medical insurance does not cover
- You are planning to take multiple connecting flights
Financial reimbursement
Most travel insurance policies typically offer financial reimbursements for canceled or delayed flights and forfeited tickets. If you interrupt your trip and you have to go back home, the travel insurance will reimburse you for any forfeited hotel booking payments that are non-refundable. Travel insurance also offers reimbursements for canceled excursions and other non-refundable expenses related to your trip.
Global Medical cover
Most insurance covers do not offer medical protection outside of their country of issuance. As such, you will need travel insurance to get medical coverage outside your country of residence. Most travel insurance will cover your medical expenses in almost all countries globally. Confirm with your provider before traveling to the countries covered in your travel insurance policy.
Emergency evacuation
Travel insurance covers emergency evacuation and repatriation in case a natural disaster happens while you are traveling. Emergency evacuation is expensive, and not having to cover it out of pocket is very convenient. Access to the means to get out of a disaster zone makes travel insurance a worthy investment.
Additionally, your travel insurance will ensure you get medical care should a medical emergency arise due to the disaster. This premium feature may only be accessible for high-premium travel insurance covers.
Personal liability
Travel insurance covers legal trouble during your trip, and some insurance policies cater to legal expenses. Usually, you have to pay out of pocket and then get reimbursed later.
The typical legal expense cover is payment for legal fees when consulting with a solicitor for a predetermined time. The average time is usually 30 minutes to an hour, depending on the cover you get.
Insurance of personal items
Travel insurance also covers personal items and reimburses you for any losses during your trip. The main culprit for the loss of personal items during your trip would be the loss of baggage during connecting flights. Or items getting stolen from your hotel room.
Notify your travel insurance provider as soon as you can when your items get stolen during your trip to streamline the claim processing.
Chronic illness treatment
Suppose you suffer from any long-term illness such as diabetes, heart disease, hypertension, asthma, or any other chronic illness. In that case, travel insurance will come in handy when you need medication refills.
It will also cover any unprecedented medical costs requiring hospitalization or specialized care.
Important Tip!
While travel insurance may seem like a cushion for anything that can go wrong, it is important to take extra precautions when traveling. Ensure you notify your bank so they know you will be traveling abroad.
This way, they will not block your card when you use it in a new country. Additionally, get a credit card instead of using your savings bank card to limit access to your bank card. This is much safer, and most credit cards have built-in travel protection.
Some credit card insurance covers trip delay and cancellation protection, delayed/lost baggage insurance, and car rental insurance. Premium credit cards offer medical treatment, emergency evacuation, or travel accident protection.
Conclusion
The benefits offered may vary from one insurance policy to another. Remember to research your travel insurance benefits before traveling. Additionally, getting the insurance policy days ahead of your trip will enable you to activate it before you fully go on your trip.
Lastly, getting your policy before booking your trip will help determine if they can cover you when visiting certain countries. The last thing you want is to discover that your travel insurance cannot provide medical coverage in the remote country you plan to visit.
