You have finally decided to go on that long-awaited vacation, and your bags are packed. You look forward to unending days of relaxation and have your activities already planned out. However, you could be missing one essential factor; travel insurance.
Many people struggle with whether or not travel insurance is essential. We feel that it should be one of the things you need to factor in. Yes, you will have to part with some money, but you will find that it gives you peace of mind. Let’s explore five reasons why you must get that all-important insurance cover.
1. It May Save You Some Money
You have been planning for your trip the whole year. You have already made a non-refundable booking with a travel agent. At the last minute, an emergency comes up, and you are not able to travel. Since you’ve already signed on the dotted line that you would not expect a refund a few days to the travel date, you have no choice but to say goodbye to your money.
However, with the right travel insurance, you can recoup your money. As long as your travel insurance covers you against specific reasons for cancellation, you can make a claim and get a refund. Some of the reasons you need to factor in are serious illness, death within the family, among others. The insurance company will not compensate you if you did not list what you would be taken the cover for. So do not try and claim if your pet dies, unless of course, it was part of the policy.
2. You Make Get a Medical Emergency
You have decided to climb the mountains during the vacation, and then you break your leg. If you did not take travel insurance, you would have to pay the bills upfront. Reality is, there is usually not much money left after the budgeting of the trip, and it could put a severe dent in your finances.
With the right travel insurance, you can get evacuation cover, and cover for any medical bills you may incur during the trip.
3. Peace of Mind
You are at the airport, and then an announcement comes over the loudspeaker announcing the cancellation of your flight. You miss your connection to the next destination and have to spend untold hours at the airport lounge. When you get your destination, you find that your bags are missing.
While the above may seem like an exaggeration, it does happen. We do not even want to think about the stress you go through, especially if you’re traveling with family members. Travel insurance can ease away some of the aggravation. Covers like travel delay benefits and baggage delay benefits, among others, will take care of some of the scenarios we have highlighted above. Do talk to your agent and see what other benefits they offer.
4. Emergency Cash Assistance
You may be having a fun day out, and decide to treat yourself to a nice lunch. Thankfully before you make your order, you check your wallet to confirm that you have your credit cards. Alas, you no longer seem to have your wallet, thanks to the nifty local pickpocket.
When you are in such a scenario, you’ll be grateful for travel insurance. Depending on the cover you have, you can get emergency cash assistance.
You cannot afford to go on a trip without travel insurance. You will get cover for things like medical cover, evacuation, and emergency cash assistance, among others. You can also insure your house when you away so that you get compensation if there is a break-in.
Consult your insurance agent so that you know the benefits you can enjoy. Do read the fine print carefully.