Is it important to get travel insurance?
Image Source: S Migaj
It has been two years since the beginning of the pandemic. Now that the situation has improved, more and more countries are loosening their borders’ restrictions. Are you looking forward to your next big trip? In this post, we will discuss the importance of travel insurance.
1. What is a travel insurance?
Travel insurance is an insurance product for covering unforeseen losses incurred while travelling, either internationally or domestically.
2. How to buy a travel insurance? How much to spend on travel insurance?
You can buy your travel insurance from insurance agencies or financial institutions. The cost of a travel insurance differs from one another. These are some of the factors that would impact the cost:
Where are you travelling to?
How long are you away for the trip?
Are you taking part in high-risk activities?
3. Why should you get a travel insurance?
In this climate, it is crucial to buy a travel insurance with Covid-19 coverage because it is now a requirement for most countries. Moreover, it is better that you get the Covid-19 coverage. In an unforeseeable circumstance, you have sufficient funds to cover both hospitalisation and medical expenses. Even if the pandemic did not exist, I would highly encourage you to get a travel insurance before you travel. You are protecting your time, assets and yourself. You never know when you need it. Based on my experiences, I submitted my claims for the following situations:
Delayed flight
Delayed luggage
Damaged luggage
Trip cancellation due to natural disaster
Trip cancellation due to the pandemic
Medical expenses post-trip
I am honestly grateful that I purchased travel insurance whenever such an incident happened. I managed to claim back most of my expenses for the two cancelled trips.
Therefore, travel insurance is important. You would receive some form of compensation when accidents happen. Moreover, a travel insurance protects your assets and time. With a travel insurance, you can reduce your loss. I hope I have convinced you that travel insurance is an important document for your next big trip!
x, Esther
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