There are many things you need to consider buying when planning a trip. Your flights and accommodation are booked, you've already got the top tours picked out, and you're pretty much ready to go. However, there's one more important detail... travel insurance.
If you've been wondering, "Is travel insurance worth it?" keep reading.
Many travelers choose to forgo spending money on insurance, but this is a terrible idea and not worth the risk. It may not be the most exciting part of planning your holiday, it's vital that you get travel insurance to cover yourself and your belongings while traveling.
Here are eight reasons why you need to buy travel insurance:
1. Trip cancellation
No one likes to think about canceling their trip or that it would possibly happen to them. Unfortunately, sometimes even the best plans go awry, and you may find that you need to cancel because of events which are entirely out of your control.
Examples include if you fall ill or become injured, suffer a bereavement, or even need to stay behind due to an emergency like your house catching fire or flooding.
However, if you have a travel insurance policy that covers cancellation, you should be able to claim for these, getting back some of the money you paid to book flights, accommodation, and other upfront costs.
It's worth noting that you should purchase travel insurance after you pay for that first big purchase such as flights, you're only covered from the date you purchase insurance!
2. Missed connections
You've arrived at the airport excited to get through security and board the plane only to discover that your flight has been delayed, meaning you'll miss your connection.
It's incredibly frustrating to start your trip with a delay getting to your destination.
It seems as though flight delays are happening more frequently nowadays, especially with budget airlines. To cover yourself in this instance, make sure you buy an insurance policy that will pay out for any expenses incurred, including food and accommodation.
3. Flight cancellations
If there's one thing that's worse than having your flight delayed, it's having it canceled. In a world where flights to every corner of the globe have opened up, it's fair to say that flight cancellations can be pretty frequent, especially in parts of the world where extreme weather conditions are prevalent.
If this does happen, how do you get another flight to or from your destination? In the terms and conditions, many airlines state they're not responsible for flight cancellations. If it turns out you need to pay for another flight, your insurance company will reimburse the cost for you.
4. Unexpected sickness or injuries
Most people face the odd bit of Delhi belly when traveling to a foreign country, and a couple of days drinking bottled water and avoiding spicy food and alcohol seem to do the trick. However, if you happen to get something a little bit more serious, or even do something like chip a tooth, you may find yourself out of pocket when dealing with hospital or dentist bills.
The majority of countries do not have free healthcare systems, and some are notorious for being outrageously expensive. The most famous of these is the USA, where a broken leg can cost thousands. Prices increase further if you require medical repatriation. With a policy that has medical coverage, you'll be safe knowing you won't be hit with a huge bill.
5. Lost, delayed or stolen baggage
All too often we hear stories of bags not being transferred to the connecting flight or that the airline has mislaid them all together. Other situations that cause your stomach to turn can include having your bags stolen or not being able to find your passport.
All of these things are pretty inconvenient, but having travel insurance can help ease the blow. Most travel insurance policies cover you for loss, theft, or damage to your luggage and belongings.
6. Personal liability cover
When buying travel insurance, it's easy to only concern yourself with the things that may happen to you. This is not the only kind of protection you should worry about. If you cause loss or damage to property or injury or death to another person, then your travel insurance will cover you, particularly any legal costs and damages you're required to pay.
7. If you rent a car
If you are going to rent a car, you should look to your travel insurance policy to cover you for this. Rental car companies apply an excess in case of accident, damage, or theft of the rental car. Some travel insurance policies can provide cover for this excess so that if something does happen, you won't have to cover the excess cost.
8. Exciting activities
Lots of people use their trip as an excuse to try out all the activities they've always wanted to do, such as skiing, snowboarding, bungee jumping, parasailing, and trekking. You'll want to be adequately covered for these, and this is where your travel insurance policy comes in handy; as these activities can be high-risk, you'll feel much more comfortable doing them knowing you have that safety net in case anything does go wrong.
Keep in mind that not all travel insurance policies were created equal. Some companies which will cover specific aspects but not others, and there will be differences in the amount of cover you get depending on the company. Always to read the product disclosure statement to know what you will and won't be covered for.
Stop wondering, "Is travel insurance worth it?" and get your policy organized straight away.
Need tips on how to choose the right policy for you? Have a read of this article.