Travel is an investment unlike any other. In return for the money you invest, you get amazing experiences. In the excitement to grab such experiences, many may overlook certain essential aspects of ensuring a safe trip. Besides the passport, clothes, plane tickets, and so on, there is another must-have for your trip and that is travel insurance. Travel insurance provides you with financial protection against risks that are inherent to travelling abroad. Many are quite unaware of the features and benefits of travel insurance.
In this article, we are looking at 5 fabulous ways in which travel insurance really protects you.
1. Offers financial coverage for medical expenses
Misfortune can strike anytime, anyplace. While travelling abroad, if you are involved in an accident, then your travel insurance will take care of the medical expenses that might incur as a result of the accident. This not includes hospitalization and daily allowance, but medical evacuation and ambulance charges as well. If you have mistakenly caused damage to property or individual, then that gets covered too.
There’s also the chance that changing time zones and weather may cause you to fall sick. In this case, travel insurance can provide for the expenses for your treatment. In foreign countries where treatment costs are high and you have a limited travelling budget, having travel insurance can do wonders.
2. Financially covers you in case of delay or loss of baggage
Did your checked-in baggage get misplaced by the airport authorities? Such occurrences more common than you think. Your bag may contain essential and expensive items. Losing them could lead to a huge strain on your finances. If you have travel insurance, Well, if you do not have travel insurance, you can contact an agency that specializes in helping passengers claim compensation for inordinate flight delays or for canceled and overbooked flights. Here, a company like airadvisor.com can be your perfect partner, in case your flight gets canceled in the US or Europe without prior information, and you want to file a claim to get duly and rightfully compensated by the airline company. Then you can raise a claim with your insurer and get reimbursement for the personal belongings you have lost with the baggage.
3. Covers you financially if you lose your passport
The importance of your passport during overseas travel cannot be underestimated. If you happen to lose your passport while travelling, you can reach out to your travel insurance provider and they can help you assist in making a new one. You are also eligible to claim reimbursement for the expenses that making a new passport might have cost you.
4.Covers you in case of flight delay and cancellation
This is always the risk of a natural calamity like a cyclone or hurricane affecting your flight timings and throwing your plans off track. If things go awry, your flight may even be cancelled. If you have travel insurance, then you will not have to worry about the expenses incurred due to flight delay or cancellation as they will reimburse you the prescribed amount.
There is also a possibility that you may have to cancel your flight/s due to personal reasons like sickness or an injury. Cancelling your pre-booked tickets may cost you a lot of money. In such a scenario, your travel insurance can help you by taking care of the financial aspects of cancellation so that you can focus on what is important for you.
5. Provides coverage in all the seven continents
Whether it is the markets of South East Asia or the autobahns of Germany, your travel insurance can be your financial safety net no matter where you choose to travel. If you are going to popular destinations like the USA and Canada, you can get specialized travel insurance plans.
Do keep in mind that the features and policy wordings of travel insurance policies may differ from insurer to insurer. Kindly contact your insurer and read the policy documents carefully before moving ahead.
We hope this article has increased your awareness of travel insurance.
