What You Should Know Before Taking Travel Insurance
Travel insurance is essential to help protect the money you put towards your trip. However, before taking the insurance, you should know some things to help make an informed decision.
When You Need Travel Insurance
While every trip costs a significant amount, there are some instances where travel insurance is more practical.
High non-refundable trip costs
Every trip includes refundable and non-refundable costs. You might want to be partially reimbursed for the non-refundable expenses if you want to cancel the trip, and that is where travel insurance comes in. You should consider the non-refundable costs to determine how much insurance you want.
Non-refundable costs include air tickets, accommodation, tours and activities, event tickets, cruise packages, prepaid transportation, and deposits. However, these could differ depending on your destination or the tour company you use.
International travel involves a lot of uncertainties. Travel insurance helps reduce your financial risks in cases of theft, terrorism, emergency evacuation, accidents, etc. Also, some countries require you to have travel insurance for qualification in your visa application.
Traveling to hurricane-prone areas
Your insurance will cover you in cases of injuries or property loss and damage in a hurricane.
Traveling to remote areas with limited healthcare facilities
Traveling comes with many health risks because of a change in environment, water, and food. Travel insurance will cover the costs of taking you to a nearby healthcare facility. Consider the means of evacuation covered, whether air, water, or road.
Taking a trip with several destinations or connecting flights
This increases your chances of missing your flight or losing luggage. While some airline companies might refund you for missing your flight, some might not, and your insurance will help alleviate that loss.
Booking a cruise trip is among the most expensive trips and comes with a lot of risks. Ensure you choose a policy that covers most of the risks you could face.
Traveling with valuables
Your insurance covers you in case of theft, loss, or damage of your jewelry, electronics, and other valuable items.
Planning adventures or hazardous activities
Some activities include trekking, scuba diving, sky diving, and other extreme sports. Your insurance can cover potential accidents or injuries, but you should look at the covered activities and coverage limits.
Benefits Of Travel Insurance
Trip interruption and cancellation coverage
This is the key reason many people lose money when traveling. Before taking travel insurance, look at the covered reasons for a missed or interrupted flight.
Medical emergency coverage
Travel insurance covers expenses like medications, hospital stays, or medical evacuations if you get sick or injured during your trip. Some policies also cover pre-existing medical conditions to ensure your protection if the condition worsens during your trip.
Baggage loss or delayed coverage
Your insurance helps you cover the cost of your essential items before you get your luggage back. Consider the things you will bring on the trip and compare them to insurance coverage limits before choosing one.
Emergency evacuation coverage
Your insurance covers helicopter or vehicle costs if you require evacuation from a danger zone or in case of medical evacuation.