It is sometimes forgotten, but can be the most crucial parts of your holiday. Here is why you should not forget your travel insurance.
Many of us love to travel. In fact, according to the United Nations World Tourism Organization (UNWTO), 1.4 billion international arrivals took place in 2018 alone!
Although travel is wonderful, it also comes with many risks, and unfortunately, most travelers are not insured. But they should be….
Vacation Mindset Means More Risks
Laurence Gonzales, author of Surviving Survival: The Art and Science of Resilience, refers to our unusual feeling of safety while traveling as a vacation mindset.
This means that people will do things that they usually wouldn’t do at home like hitchhike, cliff jump, and participate in other dangerous activities.
Although most travel insurance is limited to regular activities rather than extreme sports or questionable decisions, there are still many situations where it can make all the difference. Biking or car accidents, hospitalisation due to food poisoning, and many other likely scenarios are covered!
Travel Insurance is Inexpensive
There are many types of travel insurance, and the costs vary based on the travel destination, coverage, and many other factors.
Currently, insurance companies even offer special pandemic travel insurance, covering up to $500,000 in COVID medical coverage.
This unique type of travel insurance also covers 100% COVID cancellation coverage and 75% if you cancel the trip for any reason for just $144 for a $4,000 trip.
Other types of travel insurance exist that only cover medical costs if you get sick or hurt and cost even less.
Hospital & Repair Costs Vary Worldwide
It is always best to get travel insurance, but it is even more critical if you are traveling to more expensive countries.
For example, healthcare in the USA is unbelievably expensive. Travel insurance can help you avoid paying $1,000+ for something as simple as an x-ray and tens of thousands if you need to spend a night at the hospital.
Another example is car accidents. A simple bump can cost you thousands if you are not insured. Of course, getting car insurance on a rental vehicle is a must, but travel insurance can help even further, and it won’t cost you an arm and a leg.
Lost Luggage Compensation
Did you know that some travel insurance covers lost or stolen luggage? We pay good money for our belongings, and the total cost of everything we bring on a trip can add up.
Although replacing everything is a headache no matter what, doing it for free can help ease the burden.
Certain types of insurance will even reimburse you if you need to purchase anything due to baggage delays.
This is another case when it doesn’t seem that useful until you find yourself on a beach vacation without a swimsuit and the hotel only sells them for $100 apiece.
Unexpected Travel Problems
Finally, there are also types of travel insurance that can help compensate you if your flight is canceled or delayed.
Sure, most airlines will offer another free flight or compensate you for long layovers, but it may take months or even years.
Sometimes, they just don’t do it, and you have to pay out of pocket even though it was not your fault.
Having insurance can keep you comfortable during a delay, help you get home or to your destination, and even help you if your passport is lost or stolen.
There are many forms of travel insurance out there, and you should do your research before you get some.
Consider your travel destination, what you may be doing there, potential problems that can occur, and more.
All these factors can help you determine which travel insurance is best for you. Even if you get minimal coverage, it may help you in a challenging situation. It may be a cliché, but it’s indeed better to be safe than sorry!
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