The moment you book your ticket – whether it is a flight, cruise ship or a long train ride, you think of travel insurance. You take some time to contemplate whether spending a little more on travel cover is worth it or not. You have doubts, which is totally normal because you don’t know how it could benefit you. I’ve been there, and, understandably, you don’t want to spend any extra money on something you may not even need.
This post outlines the main benefits of travel cover, and if you opt for it and you’re a frequent traveller, you may want to save money and purchase multi-trip annual travel insurance.
Provides cover for travel interruptions or cancellations
Anything can happen when you’re travelling. Even before leaving for your destination, unforeseen incidents like interruptions, delays, or cancellations can ruin your itinerary. But that can immediately be dealt with if you have travel insurance. Your expenses will be covered, giving you back the money you’ve spent on the booking. Aside from that, the policy also has coverage for the travel days you missed and the cost for the trip to get you back home. It is one of the reasons why travel insurance can be a life-saver. It exists to help you during emergencies that may become too costly.
Offers coverage for baggage and other personal items
Baggage mishaps can also happen, and that’s something you don’t want to experience while on holiday. But in cases when your baggage items get stolen or lost, travel insurance can save the day. Insurance providers can refund damaged or lost possessions or even reimburse you for the things you lost until they are found and returned. Some travel insurance policies have additional coverage for lost valuables like gadgets, jewellery, and cameras. Remember to read the policy’s claim limits for specific items to ensure that your belongings get covered.
Has medical coverage
Coverage for medical treatments is one of the benefits of having travel insurance. It can be expensive to get treated in other countries if you’re not covered by travel insurance. Even if you have health insurance, there is a possibility that it will not cover the medical costs incurred while you’re in a different country. But annual multi trip travel insurance, for example, will not only help you pay for the medical expenses abroad but also the cost of emergency service to return you home.
Covers non-refundable deposits
Deposits for non-refundable items like travel bookings and hotel accommodations can also be covered by travel insurance. Some insurance providers can refund a part of the money spent on those items if you need to cancel them due to unforeseen situations. But you have to check what the policy covers because most airlines, tour agencies, and hotels don’t offer refunds if you pay their services in full or make a deposit. Remember to play it safe always so that your time and money will not be wasted.
So, is Travel Insurance a Yes or No?
Based on the reasons above, travel insurance is a worth buy, especially when your health insurance doesn’t cover medical costs incurred in another country. It’s also a life-saver if your trip mostly consists of non-refundable items. You don’t need to have one if you’re confident enough that nothing will go wrong during your travel. But if you can’t make up your mind, think about the financial consequences if unexpected mishaps happen.