The perfect trip can turn into the perfect nightmare if you’re not properly prepared. Despite the fact that we tend to believe there’s nothing we can do about a cancelled flight or lost laptop, travel insurance covers the vast majority of airline issues and then some.
Here are 8 benefits of investing in travel insurance.
1) Medical Expenses
Change of climate can predispose you to health problems that require emergency medical attention. Such issues can hinder you from enjoying your vacation and spend thousands of dollars on treatment. With a travel insurance policy in place, all the medical expenses will be covered by the insurance company. The company will give you a list of all the health facilities that they work with in the places that you intend to visit in a bid to ensure that you always have a direct and quick access to health services. You can even find exclusive medical only travel insurance plans if you only plan to be there for a short time.
2) Lost Deposits and Cancellation Fees
Most of the tour companies offer vacation packages to clients. In case of an unprecedented occurrence, the trip may be canceled without any prior notification causing you to incur cancellation fees. In some instances, you might lose the money paid as the deposit. Travel insurance will cover you from both cancellation fees and loss of deposit if the tour company cancels your trip. You will also enjoy the same benefits if you decide to cancel your trip for any reason whatsoever.
3) Permanent Dismemberment or Accidental Death
Unfortunately, these things occur to travelers, especially those who have a health condition that needs continuous medical attention before the trip. If this happens, the insurance will cover the additional travel, room, board, change of flights, etc. Your family will also be compensated dependent on the plan that you select. It is recommended to read the entire policy documents to know what the insurance companies will provide for this kind of unfortunate event.
4) Car Accidents
When in a foreign country, you might rent a car instead of taking a taxi every day to get from one place to another. If you happen to get in an accident while driving a rental car, the insurance company will compensate the rental company on your behalf. That is, the insurance company will cover the repairs and maintenance costs. The insurance company will also cover treatment for injuries sustained during the accident. Third parties who are injured may also be compensated if you such details are included in the policy document that you select.
5) Lost Cash
When traveling in a foreign country, you might be distracted by the surrounding sceneries thereby making yourself an easy target for pickpockets. If that happens and you do not have a fallback plan, you might have to call friends and family back home to send you money. Thankfully, with a good travel insurance plan in place, you do not have to go through such an embarrassing experience. The insurance company will replace your lost cash, so you can enjoy the rest of your vacation without worrying about your finances. The amount compensated is dependent on the plan that you select though.
6) Legal Expenses
It is not possible to know every law enacted in a foreign country. As a result, you might break the law unknowingly and end up in court or incarcerated. If that happens, the insurance company will cover the legal fees and other expenses such as bond and bail.
7) Engagement in Risky Activities
If you are the adventurous type that will not let an opportunity to try out something new that is risky slide, then you need to consider having a comprehensive travel insurance policy. For example, if you plan to hike up a rocky mountain or enjoy zip lining, you should purchase this insurance policy. If anything tragic happens, the company will cater for the medical expenses and other additional costs that may arise. Even though nobody plans to get hurt, it is always wise to have a backup plan if things go south.
8) Loss of Luggage
We have all lost luggage at the airport or forgot it in a taxi while in a foreign country. Having insurance will help you purchase new belongings without having to break the bank. You will have to file a claim to prove that indeed you lost your luggage during the trip.
No one wants to think that the worst will happen, but if it does, the investment in travel insurance will jump in to save the day. With all of the potential for disaster far from home, why wouldn’t you make sure you are taken care of.
Have you even had to use your travel insurance plan? How did it help you out when you were in a bind during your travels? Share in comments below.