5 Reasons Why You Need Travel Insurance in 2022
Dan Levenson August 30, 2022
Traveling, whether for business or pleasure, brings with it a feeling of excitement. The thought of boarding a flight and relocating to a different destination can give you a rush, especially if it’s a vacation in some exotic getaway. However, you could be faced with several perils, like emergency hospitalization or lost luggage while on your trip. The unexpected costs associated with such perils could be detrimental to your trip, especially if you are traveling frugally.
Don’t stress though, travel insurance is here just for you. When you purchase travel insurance, you are transferring these risks from yourself to the insurance company. So, how can travel insurance benefit you? We have come up with 5 reasons why you need to buy travel insurance every time you go on a trip.
1. To Cover Emergency Medical Expenses
Every time you travel, you run the risk of incurring medical expenses. You could break a leg while on vacation and this will force you to foot some medical bills. These bills can eat into your budget, especially since most medical plans do not cover you while traveling, or while overseas.
Travel insurance enables you to avoid potential losses in hundreds of dollars in exchange for a small, definite amount of money- the premium. It will help you pay some of the doctor’s bills or hospitalization costs. Although many insurance companies offer this benefit on a reimbursement basis, this should not discourage you from buying travel insurance. At the end of the day, you still stand to benefit by avoiding expensive medical bills.
2. To Replace Lost Luggage
According to SITA, more than 22 million bags get mishandled. This should be an alarming statistic to you since there are chances that one day or another, your luggage could get lost. Having to deal with the issue of lost luggage while on vacation can be depressing.
However, travel insurance covers lost luggage and your policy will help you with the costs of getting new clothes, toiletries, and other items that you may have lost. In this way, travel insurance enables you to continue enjoying your trip as though nothing ever happened. For this reason, you need to buy travel insurance whenever you travel.
3. Canceled Trips
Sometimes, hindrances can occur at the very last minute and force you to cancel a booked and paid-for trip. For instance, the death of a loved one, a work emergency, or an unexpected illness can throw cold water on your traveling plans. It can be very painful to lose money on non-refundable trips because of reasons beyond your control.
Luckily, travel insurance comes in to reimburse these non-refundable costs that you had already incurred in anticipation of the trip. Instead of watching it all go down the drain, you can use this money to plan for your next trip. Therefore, you need travel insurance as a safety net for when life deals you with such lemons. Just make sure that you know what events are covered by the policy, and the exclusions as well.
4. Medical Evacuations
While on vacation, it is possible you get so badly injured that you need medical evacuation. This could be because of the lack of specialized medical care in the area that you are visiting. Say, for instance, you get injured while on holiday deep in the heart of the African grasslands. If your injury requires specialized care, you could face a very hard time getting this and the situation could easily become life-threatening.
However, travel insurance will help you get medical evacuation services, and some companies will even pay the upfront fees usually required by such providers. The medical evacuation services providers will ensure that you get the medical attention that you require. So, before you pack your traveling bags, ensure you have travel insurance to go along with it.
5. Delayed Flights
A delayed flight can cause great inconveniences to your traveling prospects. While you wait for the delayed flights, you are likely to incur unprecedented costs like food and accommodation. In some extreme cases, you may even be forced to rebook a flight. All these expenses eat into your travel budget.
This is where travel insurance comes in. You can get reimbursement for the expenses you incur because of delayed flights. With travel insurance, you will remain within your travel budget and enjoy a stress-free trip.
Travel insurance could indeed cost up to 10% of your trip expenses. Although this may seem expensive now, it is very cheap when compared to the expenses you stand to incur on your own should something go wrong while on vacation.
Therefore, make the right decision and buy travel insurance before you travel. This will save you a lot of inconveniences in the long run, as well as a whole lot of money. Contact us today to learn more about how travel insurance can benefit you.
This article is for general information purposes only. It is not insurance, tax, legal, business, or other advice. For specific insurance questions related to you or your business, please contact our office.