Reasons to Get Travel Insurance

Plenty of things can go wrong when you travel—you can unexpectedly get sick, get injured, get in a car accident or lose your luggage. These can set you back and potentially ruin your entire trip. Travel insurance (oftentimes offered by credit card companies, travel agents and banks) can help ensure that your financial expenses are safe—protecting you in the process. Consider it a comprehensive security package option that protects against a variety of potential instances.

Here is a breakdown of what travel insurance does cover and why they are important in considering:

  • Cancellations 

Cancellations happen due to any number of circumstances; some of which are reasonably foreseeable. If you are booking a trip and you are worried you may not be able to make it on those dates, travel insurance can spare you from losing a significant amount in non-refundable expenses. For example, say you are taking a trip this summer on a river cruise throughout Europe, but your mother is in and out of medical treatment—you may potentially have to reschedule your trip depending on the personal circumstances. The good news is that while most trips are not refundable, purchasing travel insurance will guarantee you’ll get a high percentage of the costs refunded.

Other unforeseeable instances where your trip may need to be cancelled may be due to a flight being cancelled, something having gone wrong with the hotel booking, etc. Travel insurance will likewise help refund a significant percentage of these costs. 

  • Personal Possessions Loss 

If you are flying with carry on luggage, you don’t really run the risk of losing your suitcase; however if you have luggage that you need to check in, pay particular attention to this part. You always run the risk of losing your possessions anytime you check them in—even the best airlines can make a mistake. If the airline has completely lost your personal items, travel insurance can cover up to a certain value of the items. The amount that you select to be covered beforehand will be reflected in your travel insurance premium.

  • Legal Liability Coverage

Legal liability coverage doesn’t necessarily come with all types of travel insurance; however, legal liability coverage comes in handy whenever you rent a car or other type of motorized vehicle abroad where you can potentially get in an accident. If you are at fault, travel insurance can be used towards any legal fees or property damage.

  • Medical Treatment

Accidents can happen at anytime—usually when you least expect it. Play the safe card and be prepared for anything during your journey. Travel insurance covers various medical treatments that are necessary while you are away. Whether you need medicine from a pharmacy, need to go to an emergency room, etc. you can expect to receive coverage for these expenses.