You’ve made your plans, purchased your ticket and booked the hotel. All you need to do is buy travel insurance. You might ask, what do I need insurance for? Here are the top five reasons why travel insurance is a must. Plus learn a few ways to save.
Top Five Reasons Travel Insurance is a Must
1. For Medical Emergencies: It’s hard to anticipate what might happen on holiday, and it’s not just the risk takers who need to be cautious! When travelling to another country, hospital stays, medical evacuations and emergency surgeries require some people to mortgage their house or sell their car to cover the expense before they are allowed to leave the hospital. It’s best to avoid finding yourself in this situation.
2. For Cancellations and Delays: When you buy your ticket well in advance, you never know what may come up. Airlines, cruise ships and hotels are usually less than understanding in these situations. In this case, it’s a life-saver to have a good travel insurance policy, for unforeseen events, which require cancellation or delay.
3. For Lost or Stolen Items: Lost, stolen or delayed luggage can turn your dream vacation into the trip from hell. Having travel insurance may allow you to claim the lost or stolen items so you can continue to vacation in style. Read your policy to understand what’s covered.
4. For All the Risks You Can’t Account for: You don’t know what might happen while you’re travelling abroad. Buying a policy will put you at ease. It’s important to review the fine print to know what’s covered.
5. Avoid Being a Burden to Your Family and Friends: If you find yourself in an emergency situation overseas, you might have to call on family and friends to bail you out. Planning ahead and purchasing a policy can alleviate that potential stress and keep those relationships intact.
Top Three Ways to Save on Travel Insurance
1. Check with Your Credit Card Company: Many credit card companies provide travel insurance when you use the card to purchase your airline tickets or hotel booking. Your best option is to ask them for the insurance policy so you can make sure your travel destination is covered. It’s also a good idea to read the fine print. If it comes time to make a claim on your policy, you’ll be glad you did.
2. Plan Well and Buy Early: Buying your travel insurance early can save you lots of headaches later. If you buy early, you’ll be covered from the time you purchase until you’ve completed your trip. This means if anything happens from then until you leave, you’re covered.
3. Check with Your Health Insurance: Before you buy a new policy, check with your current insurer to see if you qualify for a discount on travel insurance. Following this tip might save you 10–15% on your policy.