Whether you’re heading off on a round-the-world trip of a lifetime, spending a romantic weekend in a luxurious city centre hotel or taking the kids to a sun-drenched all-inclusive resort, it’s essential to have a solid travel insurance policy in place before you leave.
- Reasons to Buy Travel InsuranceJ. Star / Foter.com / CC BY-NC-SA
The main reason to take out travel insurance is to obtain complete peace of mind. Insurance allows you to enjoy your holiday safe in the knowledge that, should something unexpected go wrong at any stage, you won’t have to worry about finding the money to sort it out.
For most travellers, the single biggest outlay is the cost of the trip itself. With the rise of DIY holidays where, rather than using travel agents, people source their own flights, hotel accommodation and transfers, insurance has become even more essential. Should an airline, hotel chain or transportation company collapse during your trip, no one will have any obligation to find you an alternative.
Expenses.
Another good reason to buy travel insurance policy is to protect your personal belongings. If your bags are lost or stolen, you may no longer have your passport, credit cards or any way of getting hold of some cash. Many travel insurance policies provide free telephone hotlines that you can call from anywhere in the world and will then arrange to cover all your immediate expenses.
Safeguarding against getting sick or having an accident while on holiday is another key benefit of travel insurance. In parts of Europe that fall outside the EU and in other countries of the world, most notably the United States of America, the cost of emergency medical care can be extremely high. Most travel insurance policies cover this kind of medical treatment that could otherwise easily run to tens of thousands of pounds.
The best policies will also cover additional costs such as the use of an air ambulance. This can be particularly useful if you are going skiing or hiking in remote areas where the cost of taking you to hospital is likely to be higher. Be sure to check the small print of your policy to ensure any sporting or leisure activities you plan to take part in are not excluded.
Cancellation.
If you are forced to cancel your trip at short notice, you risk losing all your money unless you are insured. Most policies only cover cancellation under certain circumstances, such as the death or serious illness of a close relative or a flood taking place at your home while you are away.
Although it may be tempting to keep costs down by simply taking out the cheapest policy you can find, this could turn out to be a false economy. If your policy is not suitable for the trip you are making it could prove to be worse than having no insurance at all. Not only will you have wasted your money, but you will also still be left with a large bill.
Policies vary a great deal in terms of what exactly they cover, so it’s a good idea to shop around. If you take your time and check carefully, it should be possible to find a policy that provides fuller coverage than others, despite costing no more.
Considering how stressful it can be dealing with missed flights, medical emergencies, lost luggage or finding yourself the victim of a crime, knowing that any financial implications are already taken care off can go a long way toward easing your worries.
