When you take a trip, no matter how carefully you plan, not everything will always go the way you think. Unexpected things beyond your control can and do come up. Even before you go away, things can sometimes happen that could mean you need to cancel your trip or cause additional expenses.
It is always a good idea to have an emergency fund for unplanned scenarios and travel insurance will also help you to be prepared.
What is travel insurance?
Travel insurance is a type of short-term insurance policy. All you have to do is plan your holiday and purchase a policy that would cover a number of scenarios that could come up during your trip. You can choose between different plans or buy a customised policy in the amount of coverage you want.
7 Reasons why you should take out travel insurance
1. You will get your money back if you have to cancel your trip
Travel insurance usually covers the entire cost of your trip if there is a death in your family, if you or a family member becomes ill, or if you lose your job. All of which would cause you to cancel your trip away. The scenarios covered depend on the amount of coverage you buy.
2. Travel insurance also covers medical expenses
It could be very beneficial if you don’t have a health insurance policy or if your current policy wouldn’t cover you when you are away from home.
3. You can buy additional coverage if you plan on practicing dangerous activities
This is important if you plan on going skiing, mountain climbing, hiking, or want to try an extreme sport for the first time.
4. Repatriation is included in most travel insurance policies
This is another one of the main reasons why this type of coverage might be needed while you’re traveling. Having to buy a plane ticket home at the last minute if you’re ill or injured could be very expensive and makes buying travel insurance well worth it.
5. You can also insure your luggage
It’s not uncommon for luggage to get lost or stolen, and you could actually lose some valuable items such as your laptop or digital camera.
6. The exact amount of coverage depends on the policy you purchase
Assess which risks you need coverage for. Where are you going and which activities do you have planned? There is no need to buy travel insurance that includes coverage for medical expenses if your health insurance will cover you while you’re away from home.
7. Buying travel insurance is not very expensive and it can really save your vacation
You can rely on your travel insurance policy to cover unexpected expenses. You’ll find that your trip is a lot more enjoyable with the peace of mind of having travel insurance.
Where can I go to get travel insurance?
If you plan on travelling soon and have already booked your trip, look for a reliable travel insurance provider. The insurance provider you currently use for your other policies might offer this type of coverage. Otherwise, you can easily buy travel insurance online or simply contact different insurance providers to ask for quotes. Some holiday providers also include travel insurance as an option in the different packages they offer.
Don’t hesitate to contact a travel insurance agent directly to see if they can write a customised policy for you. This is usually a good way to save money since you might not be able to find a policy that matches your needs. You can also remove or add coverage from an existing policy in view of what you need.