Travel Insurance: Is It Worth the Money or Not?
Sp, you have planned to go on a trip and you have been advised to take travel insurance. Without giving a single thought, you have chosen it, and now you don’t know if it’s worth your money or not. This happens when you are new to travel insurance and don’t want to compare insurance for traveling. Well, in short words, we can say that you might get some trouble during your trip, any physical or financial loss; in that case, travel insurance comes as a huge support.
Why Go for Travel Insurance?
Start with the very beginning, you are really happy about a trip which you were dying to meet for over many years, you have got you ticket, departure date with all your precious money, you have loaded your favorite clothes in the luggage, you have booked the hotel and tours, but all of a sudden everything goes in vain. Why?
- You get an unexpected condition for which you have to cancel your trip
- You dream place gets caught up in a hurricane
- A terrorist attack happens
- You get a disease or get injured on the trip
- Your luggage or passport get stolen or lost
What will you do? Cry out or find a solution? In all these cases, travel insurance comes as a savior.
What Is In the Travel Insurance?
So to overcome or prevent a huge amount of financial loss in such circumstances, you need travel insurance. These travel insurance comes in different combination packages and other supplemental policies in major cases like identity theft, but we will be discussing the basic five types of travel insurance which are as follows;
1. Flight Insurance:
It is a life insurance policy for the conditions like plane crashes during your journey.
2. Baggage Insurance:
It is the insurance for your baggage if it is stolen, lost, delayed, or damaged during the flight. It may contain exclusion or price caps on jewelry, electronics, etc.
3. Cancellation Insurance:
In the case of unexpected conditions like a medical issue, accident, weather, trips for which you have given non-refundable cash gets canceled, or flight interruptions, for all these things there is cancellation insurance.
4. Medical Insurance:
Medical insurance is one step ahead of your health insurance; it covers all those health expenses which your regular healthcare policy fails to do.
5. Evacuation Insurance:
In case of emergency, this insurance offers medical transport coverage so you can get proper treatment. It also works for dangerous activities like skydiving, some sports, etc.
Do I Need Travel Insurance?
Travel insurance providers are serving only in traveling mostly, like Travel Guard, Tin Leg, Travelex, but you may also find a vacation package got up by a travel company. So, the point is do you need travel insurance? The answer is simple; if you are an always-on-the-road traveler, then you should go for travel insurance for unforeseen worst situations. But if you travel less and already have some other type of insurance policy, you may be called as a money-waster for buying travel insurance.