Why People Need Travel Insurance?


Travel insurance is a form of risk management against losses that are incurred during travel with a country or also during the international travel. It is seen that the cost of the travel insurance is very high when compared to the overall deal of the travel. Yet, travel insurance is not the one which should be compromised looking at the costs of the insurance fee. For the same reason, it is seen that most of the travel agents that bring up good travel deals for you and your family, get spooky when it comes to offering the customers with the travel insurance. This is because the deals are no longer budget deals when it comes to travel insurance. Travel insurance is a heavy price to be paid for your pocket and yet it is not the one which should be compromised when it comes to travelling plan without the need for insurance. In the guide to follow, we shall see the need of the people to avail themselves and their family with insurance on travel to different places.

Primary reasons

Following are the primary reasons to avail yourself with travel insurance when you travel:

1) Cancellation of your flight
2) Your bags containing the emergency and absolutely necessary medication are lost and you need to buy medicines on a short notice.
3) Lost and stolen nature of your passport and cash in your wallet and an emergency to obtain the same.
4) Accident that is faced during travel and the medical expenses that are incurred in such accidents.
5) Cancellation of your trip by yourself due to the illness that is faced by you just before the time of your trip.
6) The owner company of the mode of transport that you book for goes bankrupt and you need to reach your destination against the non-refundable form of ticket that you had booked in advance.
7) You need to cover the expenses of your medical emergencies in a foreign country.
8) There is an invasion in the destination of your travel by the terrorist activities and an emergency is imposed because of which you need to re-schedule your travel.
9) There is a natural calamity like flood, famine, drought or hurricane that forces you to leave the hotel or the resort that you had booked for yourself.

Basic types

Here we discuss the basic types of insurances:

Flight insurance

It is a form of insurance which is offered in the airport against the travel of your journey. In case there is a crash of your flight, you shall be offered relevant compensation for the medical expenses as well as your life is insured against the risk of fatal incidents against travel in flights.

Trip cancellation

This is a type of insurance that needs to be bough carefully. It is not advisable to buy the insurance against the travel via an airline which is booked for a ticket that cost only few tens to hundreds of dollars. It is your loss if you buy insurance for trip cancellation against the same. However, if you fall sick in a travel to a cruise that is worth tens of thousands of dollars and you are termed as medically unfit to take the cruise, or fell sick during the departure of the cruise, then you might not have enough savings to board the cruise like that for the next time in your entire life. Hence it is advisable to buy travel insurance against trip cancellation of such cruises.

Health care insurance

This is the type of insurance that is confusing for most of the people who are on travel. This type of insurance is the one mixing the battles between the medical as well as health insurance companies. Most of the health insurance companies deny you o payment of insurances when you are on a travel. Especially when you are on a travel to a foreign country, it is not seen if your accident is occurred in a country outside your home country or your own country. It is just an enough reason for the travel insurance companies to not offer you compensation considering the fact that you have board a foreign flagged vessel.

Baggage insurance

This is the type of insurance that comes particularly handy during the travel. This insurance insures you against the loss of your baggage. You can make claims that are related to the insurance if your baggage is lost during travel. The travel insurance though does not pay you all that was in the baggage, will be able to satisfy you with enough security under the insurance of baggage during your travel.

Thus, in this guide, we have seen the various needs that arise for the people to avail themselves of travel insurance.

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Disclaimer: The suggestions in the article(wherever applicable) are for informational purposes only. They are not intended as medical or any other type of advice