Travel insurance may not always be a priority when booking a holiday – but it should be, especially if you areduring the or plan to move long term.
However, the reasons forare abundant and should not be limited to the above circumstances. Ultimately, travel insurance can help protect your trip for a variety of covered reasons. That way, you won’t lose 100% of your investment in the event of the unexpected. Just file a claim, submit receipts to your provider, and get your money back.
Don’t lose money or worry about delays, cancellations or other costly incidents. If you plan to travel soon, start buying travel insurance policies today!
Here’s why you should buy travel insurance
As mentioned, there are many circumstances where you will want to purchase travel insurance in case something goes wrong. Travel insurance can help you with delays and cancellations, lost or damaged luggage and also medical expenses (depending on coverage).
Here are two main reasons why you should buy travel insurance:
- Medical cover
- Trip cancellation
Let’s start with a basic reason: some countries actually require travel insurance, primarily emergency medical and medical evacuation coverage. Be sure to carefully review the country or countries you are visiting to see if they have any specific insurance requirements.
“The Emergency Medical Benefit can ensure that you are not responsible for the cost of high medical bills in the event of an emergency during your trip. This benefit can cover expenses you incur if you become ill or injured during your trip. trip, including doctor’s consultation fees, hospital fees, ambulance services and more,” says US travel insurance marketplace Squaremouth, recommending travelers get at least $50,000 in emergency medical coverage.
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Travel insurance is something the US also recommends for medical emergencies, as Medicare and Medicaid likely won’t help cover your hospital bills in another country. “Even if a country has nationalized health care, it may not cover people who are not citizens,” the Centers for Disease Control and Prevention (CDC) say.
The CDC points out that travelers who plan to spend 6 months or more in a foreign country or engage in high-risk activities like scuba diving or hang-gliding should prioritize travel medical insurance. Note thataren’t usually included in comprehensive travel insurance plans, so be sure to buy a policy that includes this if you need to. A policy with pre-existing conditions is available 14 to 21 days after you make your first travel payment, Squaremouth says.
“Some people think they can enter a foreign country with their health insurance card and get coverage, but that’s not always the case,” said Kathleen Bangs, aviation expert for the tracking website. Flight Aware flights.. “Talk to your health care company and understand what your coverage is if you’re traveling overseas.”
Trip cancellation is typically one of the most popular reasons travelers purchase insurance.
“Trip cancellation insurance covers your financial investment in your trip, such as flights, cruises, or train tickets,” the CDC says online. “Review the policy carefully to make sure it covers what you need, including cancellation if you or a close family member becomes ill.”
This type of insurance coverage has several advantages: flexibility, peace of mind and financial protection in case you need to change your plans for a long period of time.. In hindsight, it’s relatively inexpensive, costing between 5-10% of your total travel expenses. Plus, you have time to weigh the benefits, as trip cancellation can usually be purchased up to 24 hours before your vacation.
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Remember, this is not the same as the Cancel Any Reason policy, which is an expensive upgrade, increasing your premium by around 40-50%, per SquareMouth. It must also be purchased well in advance – within 14-21 days of your original booking date.
At the end of the line
Travel insurance helps protect the cost of your trip and can also save you from paying hefty bills if an unforeseen incident or illness occurs during your trip. Like health insurance, travel insurance should be considered a necessity in many circumstances.
Of course, travel insurance can also help mitigate the inconvenience, reimbursing you for things like food and other necessities during travel delays, lost luggage or stolen items (up to a certain amount) and beyond that, but the more expensive items like medical coverage and trip cancellation should be at the top of the list. After all, your focus should be on getting medical attention whenever you need it, not thousands of dollars in medical bills.
Whenbe sure to assess the cost, the types of benefits and coverage included, and the reputation of the company. Start by comparing a variety of insurance policies at once with this easy-to-use online marketplace.