Travel insurance is an option available for people planning a trip, for business or leisure, that will provide financial protection in the case of unexpected inconveniences. With most travel providers, it is an optional extra and not a necessary purchase. Just what does travel insurance cover, though, and do you need it?
Being injured while on vacation isn’t something that a lot of people would expect to happen to them. Many travelers may not even take the possibility into consideration. Frequent travelers who have had no experiences with injury or loss of belongings in the past may not consider travel insurance as they have never needed it before. Taking out a travel insurance policy can have many benefits, however, especially if the unexpected does occur.
Not only can it be scary to be injured and require medical attention while in a foreign country but, in some cases, it can be expensive, too. If you’re travelling to a country that does not have a free health service, the cost of a hospital stay or any type of treatment can amount to thousands and build up a debt that could have been avoided.
Travel insurance does not just protect you in the event of injury. Most travel insurance plans will cover you not only for medical expenses while abroad, but also for personal liability, legal expenses and any costs that may be incurred through missed or delayed departures. Some plans may also insure you for loss of personal belongings, documents or money. There are many options available when it comes to insuring yourself and your belongings while traveling and it is important to look around to see which plan suits you and your needs the best.
There are different levels of travel insurance that you can purchase. If you’re just planning one vacation, you can buy insurance for a single trip, or if you’re somebody who travels frequently, there are annual options available from some travel insurance providers that will cover you for a full year, often at a discounted rate. There are also options to buy travel insurance for couples and families who travel together.
If you are traveling as part of an adventure holiday, or for a sporting activity that could be deemed dangerous, the cost of your insurance is likely to be higher than if the trip was just a general vacation. Some providers will not insure individuals who are at a higher risk of injury at all, so it is important to shop around and compare insurance plans before selecting one.
Travel insurance is something that a lot of people overlook. When booking a trip with most providers, insurance is optional and not compulsory. It is common for people to assume that they are not going to need it and not add it to their travel expenses to save on some money. Covering yourself in case the unexpected does happen, however, is a small price to pay for what could happen should something occur when you’re not protected. As the saying goes, it is better to be safe than sorry.