The thought that you may experience an emergency while traveling is one that you definitely won’t want to entertain, we get that. No-one wants to think that something might go wrong on their way to, or during, their vacation, nevertheless, travel insurance can add peace of mind to your vacations. After all, there are no guarantees in life, and it is so much better to have insurance and not need it, than need it and not have it!
Travel Insurance Benefits
Whether you find your flight cancelled, you need to return home early due to a family emergency, or something valuable is stolen from you, travel insurance can cover you in a plethora of situations. The benefit of this is that you will not have to pay out of pocket in order to deal with these situations.
Hopefully you won’t need travel insurance while you take a vacation, but it’s better to be safe than sorry.
What Should Be Covered in your Travel Insurance Policy
Choosing a travel insurance policy can be difficult if you don’t know much about it; there are so many companies who offer coverage, but there several things you should look for in a great plan. These are desirable qualities in a Travel Insurance plan:
- A high limit for coverage on medical expenses for illness and injury; at least $100,000 in USD.
- A minimum of $300,000 USD worth of coverage for care, including transportation from the hospital to your home, emergency evacuation and care.
- A plan that covers you in most of the countries around the world.
- Coverage for some of your electronics (with the option of higher coverage should you wish it)
- Twenty-four hour emergency assistance is a must (imagine calling during an emergency only to be told you must call back later).
- You want a plan that also covers damaged, stolen, or lost property such as jewellery, luggage, cameras, or documents.
- Coverage of flight, hotel, and transportation bookings which are cancelled for one reason or another (whether they be yours or others).
- Coverage for early return from your vacation due to problems within the country in which you find yourself.
- Coverage for personal accidents and injury.
- Financial protection should your insurer go bankrupt.
Understand What Isn’t Covered
You should always be aware of what your policy does not cover. For example most companies will offer only a small amount of coverage for electronics on their basic plans; you may want to buy more coverage if you have particularly valuable electronics with you. Likewise, extreme sports may not be covered; if you’re planning on paragliding, abseiling, or bungee jumping, for example, injuries or loss of property connected with these activities will likely not covered.
So when you plan your next trip abroad please remember to make the small, but important, investment that is travel insurance because you never know if or when you might need it. Just remember to check a few different companies.
