Why You Shouldn’t Take Travel Insurance for Granted
“Is it necessary to buy travel insurance?”
This is a common question travelers ask, especially those who are flying to foreign lands for the first time. While most of us are hoping for safe and secured travels, some events are beyond our control.
In a nutshell, having the right travel insurance coverage ensures you get the quality care in unfavorable circumstances such as flight cancellation, lost luggage, or accidents – with 24 hours helpline available. This means that no matter what happens, you’ll have someone on hand to help.
There are various kinds of travel insurance policies to choose from. To get the most suitable policy for your travel itinerary, here is an easy-to-digest, comprehensive list of travel insurance basics to look for.
It gets you assistance in case of medical emergencies.
Suddenly needing medical treatment while abroad is an unexpected and an unwanted surprise. What’s more surprising is how expensive the bills for scans, surgeries, and even just a simple checkup can be. Unfortunately, standard HMOs do not cover medical expenditures incurred abroad and this one of the best reasons to buy travel insurance.
Travel insurance protects travelers from hefty medical bills in cases of accidents. This is important especially for those who plan to undertake extreme sports like snowboarding, skydiving, and surfboarding.
It aids you in times of trip cancellation & curtailment.
Trip disruptions that cause inconveniences, delays, and even additional booking outlays are also part of the standard premium. Weather-related issues and transportation concerns, in general, are covered. Travel insurance allows you to reimburse in case you miss connecting flights due to delay or your flight is canceled. This is most helpful for travelers on business trips.
It serves as a safety cushion for your luggage care.
One of the most unwanted travel blunders is stolen, lost, delayed or damaged valuables, which can cause a dent in your pocket as you try to replace them by buying new items. Getting the right insurance allows you to reimburse the losses and expenses of high-value items like gadgets, sporting gears, cash, and essential documents.
When should you buy insurance?
The best time to avail of travel insurance is right after booking your trip and accommodations. Once you already put down your money, the insurance policy allows you to claim back what you spent in cases of emergencies where you need to cancel like medical reasons.
What type of policy should you buy?
First, determine the frequency and duration of your travel. There are three types of travel insurance policies to choose from. You can choose for a single trip, for one time away, or an annual package which covers your all your travels all year round. Policies also vary if your traveling domestic and overseas. For Schengen countries, you have to ensure that your insurance is adherent to at least the minimum amount of coverage.
Resources: World Nomads, Go Overseas, HuffPost
Written by Josh Cornehell, Analyst at eCompareMo.com. eCompareMo.com is the country’s leading and complete comparison portal intended for Filipinos, specializing in banking and insurance information.
