The importance of Travel Insurance.

Many young travellers see Travel Insurance as a waste of money. It is a large sum of money that needs to be paid on something that they might never use. A fellow traveller has told me that it is ridiculous to get travel insurance. I can sympathise but honestly, an accident or illness in a foreign country, can ruin you financially and have serious implications – regardless of your age. Lets look at the facts for a moment. Travelling is an investment and by taking out travel insurance, you are in fact protecting your investment.

Often things go wrong when you travel and travel insurance is there to help you when this happen.

What needs to be covered by travel insurance?

Before you take out travel insurance, sit down for a moment and make a list of the things that are important to you. Maybe you are worried about cancelled flights, Baggage loss or damage or more importantly, medical emergencies. Remember that an expensive travel insurance policy, does not always give the best coverage. Most travellers, including myself, are concerned about emergency medical costs. It is important to read the fine print carefully and choose according to your needs. If you are into adventure sport like skydiving, bungee jumping, river rafting or off-piste skiers, then  you should check if these activities are covered. Disclosure is really important. Also check with your health insurance company if you are covered when abroad.

I have mentioned before that things go wrong when you travel – like cancelled flights. Imagine sitting anxiously at an airport , waiting to board, when you hear an announcement about “Trip Cancellation Atlantic City”. Cancelled flights by airlines happens every day. It could be due to strikes, natural disasters, war or terrorism. The important thing is to know if you are covered in terms of your travel insurance policy. If unsure, contact the provider and make an enquiry.

Other important issues that needs to be covered by travel insurance are the following:

• Damage or lost Baggage;

• Loss of Personal effects;

• Bankruptcy – Airline or Travel Supplier;

• Trip cancellations;

• Terrorist attacks;

• Damage to Rental cars.

Travel insurance doesn’t need to cost an arm and a leg. Shop around and find the best coverage that will suit your travel needs. Keep all the details close by and have that extra peace of mind before you embark on your next adventure. You never know when you might need it.