Travel insurance is often ignored by people as it is not a mandatory thing to get, like health insurance. To some, travel insurance may come off as an unnecessary luxury whereas; some people believe travel insurance to be a blessing in disguise. Although the clients are always full of mixed opinions, you can not negate the importance of travel insurance completely without knowing all the information related to it. Read on to decide whether Travel insurance is really what you think it is or not.
What is Travel Insurance?
Travel insurance is one of the vaguely discussed topics among people. It is broadly classified into two classes, the Trip Cancellation insurance, and the Travel Medical insurance. The latter covers all the perks of Trip cancellation insurance along with the added benefit of Travel medical insurance. The following types of things are covered by travel insurance:
- Trip Cancellation fee
- Reservation cancellation charges
- Trip Interruption Charges
- Repatriation in case of accidents or death
- Medical evacuation
- Medical expenses
- Accidental death or dismemberment
When is travel insurance necessary?
Travel insurance can save you from some huge losses in a number of travel-related emergencies. All these benefits offered by Travel insurance make it worth your money.
Say your flight gets delayed due to some reason which is caused by any fault within the company. In such cases, travel insurance will not only cover flight cancellations but also reimburse you the funds which you spent on flight tickets.
In situations where you are unable to make it to the airport on time or have to cancel a hotel reservation, travel experience will help you out. This insurance will cover the costs of hotel and flight reservations under valid, unforeseen circumstances.
Although it is rare for experienced travelers, luggage loss is quite common. In case if your checked luggage goes missing or gets delayed because of someone reason, the travel insurance will incur for the delay as well as compensate for the lost items.
In case of sudden medical emergencies such as an unforeseen ear infection, travel insurance package including medical insurance will help in covering the medical expenses. In the US and Canada, Health care is quite expensive and travel insurance can cover these costs for you if you are traveling to these places.
In case of accidents, deaths or dismemberments, travel insurance will cover repatriation of remains and medical evacuations.
Limitations of travel insurance:
Travel insurance does not cover as much as you expect it to
Although travel insurance may seem like an easy way out of absolutely critical situations like medical emergencies and evacuations, it does not really cover as much as you expect it to. For instance, if you are taking last-minute domestic flights, travel insurance cannot cover it for you. Similarly, it is not necessary to take travel insurance if you are taking cheap domestic flights or can tolerate the loss of prepaid purchases. Another factor of importance here is that medical emergency and evacuations can also be covered by using a health insurance so in that case, you do not really need travel experience.
Travel insurance or not, it is really up to you:
Travel insurance is favored by many people because of its countless benefits. Apart from covering emergency situations, disabilities, evacuations and medical assistance, some travel insurances also cover burglary, document costs or any expenses which may arise during your traveling. In such cases, travel insurance offers you liberation from all sorts of expense-related worries when you are traveling from a costly airline. On the other hand, most of the things covered by travel insurance can also be covered by using way cheaper health insurances. However, if you are traveling, medical insurance and travel insurance package is a must to consider.
Best alternative: Travel planning
If you think travel insurance is an unnecessary luxury for you, it is best to go for its alternative. With a little research and travel planning, you can easily smooth out the traveling experience for yourself. For instance, you can get medical help from countries other than the US and Canada. This will cost you way lesser and you do not really have to spend lump sums on travel insurance.
All in all, taking travel insurance or not is entirely your decision. However, you must compare different travel insurances in order to pick a suitable one with maximum benefits.