Travel insurance is an aspect of insurance people are less concerned about. All they just want to do is to get to a new location, explore their culture, learn new things, have fun, and come back home. In this article, I will answer the question – is travel insurance necessary?.
Travel insurance is one of the insurance covers out there. It protects you against risks and financial losses that could happen while on a trip. The insurance package covers several areas, including missed flights, delayed luggage, major illness, injury or death in the family, etc.
Ordinarily, people didn’t’ take travel insurance seriously in the past. But the outbreak of the COVID-19 pandemic changed the people’s perspective about it.
The pandemic made people realized how unpredictable traveling could be. And when the Covid-19 pandemic escalated in February 2020, people suddenly got interested in travel insurance, and they still do to date.
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Is Travel Insurance Necessary?
Here are some important things to consider before getting an insurance cover for your trip.
Consider The Trip
The best way to know whether travel insurance is necessary or not is to consider the trip in question.
So, before you decide whether you need an insurance for your trip or not, assess your financial situation and how much you are spending on the entire journey.
For instance, if you already spent a considerable amount of non-refundable money on the trip, you need to invest in insurance.
But if you can let go of the money you already spent when something goes wrong, you may not need travel insurance.
Again, if you live in a country like the United States, where your air tickets are refundable, and you can easily cancel hotel reservations, travel insurance may not be necessary for your trip.
Make Sure the Plan Covers What You Want
Again, is travel insurance necessary? Well, it depends on the situation surrounding your trip. However, if you decide to buy an insurance plan for your journey, it’s essential to read the terms and conditions before committing to the plan.
It can be heartbreaking when you purchase an insurance plan thinking it will be helpful and protective. Only to realize that the plan didn’t cover your unique travel needs.
So, don’t just buy a travel insurance plan for the fun of it. Try to see if you need it. And do further research to see that the plan will be protective and useful should the unexpected happens.
Let me give you a good example; during the peak of the COVID-19 pandemic, most people’s travel insurance didn’t cover canceled flights and hotel reservations. And that is because these people didn’t buy a “cancel for any reason” travel plan.
If they had bought a “cancel for any reason” travel insurance plan, they would have been able to cancel their trips for any reason. For this reason, people started taking travel insurance seriously after the pandemic.
So, your insurance plan is worthless in a pandemic situation unless you get a “cancel for any reason” plan.
The ‘cancel for any reason plan’ can also help you in other situations not related to COVID-19. For instance, you can decide to cancel your flight and hotel reservation due to sickness, injury, etc.
See How You Are Already Covered
Let me ask you again, based on what you have read so far, is travel insurance necessary? It depends on the circumstances surrounding your traveling.
There are instances when your travel concerns are already covered; you may not need to get travel insurance in such a situation.
So, pay attention to what you are covering from the beginning of your journey. Most times, people tend to underestimate the protection they already have. And they may end up buying an insurance cover they don’t really need.
Ideally, your worries when travelling should be – delays, possible cancellations of flights, misplacing their bags, etc. And when these things happen most times, the airline will compensate you for it.
Some credit cards may carry some form of travel protection. If you use a credit card with travel protection to book your flight, you may get cover or additional funds to get a new flight if the one you initially paid for get cancelled for any reason.
In a nutshell, before you buy any travel plan insurance, check if you are already protected. With this, you can buy the travel insurance plan that is relevant to your unique situation.
Is Travel Insurance Necessary? Take Advantage of Your Coverage
If you finally decide to opt for a travel insurance plan, try to know more about the plan before you finally commit yourself financially.
Funnily, people don’t know the extent to which their travel insurance can cover them. So, these are the things you need to know before you buy a travel plan.
Generally, most travel plans cover medical expenses, lost baggage, hotel room, meals, toiletries, etc.
But, you will get assistance beyond the cover itself. For instance, most travel insurance companies have 24/7 helplines. Regardless of where you are, they can help you locate a pharmacy, get your lost passport, etc.
Depending on the insurance company you are using, you may even enjoy concierge services to make your traveling more enjoyable.
Concierge services are one of the perks of buying a travel insurance plan. These services include assistance with hotel accommodations, rescheduling flights, help to locate a nearby hospital, ground transportation arrangements, event ticketing arrangements, restaurant reservations, etc.