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Is Travel Insurance Necessary? Here are the Main Benefits of having Travel Insurance

Is Travel Insurance Necessary? Here are the Main Benefits of having Travel Insurance

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When traveling, many people are often quick to dismiss the need for travel insurance. They perceive the benefits of travel insurance as an unnecessary expense. However, at times, the unexpected happens and unfortunate incidents occur. In addition, travelers are vulnerable to diseases and accidents in unfamiliar destinations. When the unexpected happens, travel insurance is useful and saves you a fortune. If you finally saved enough for your dream vacation and are wondering whether or not to buy travel insurance, I completely understand you. Even I have traveled many times without acquiring travel insurance. Sometimes I didn’t really need it.

But there were also many occasions in which I was cursing myself for not getting a travel insurance before departing. Actually, I could have had at least two all-inclusive vacations, financed from the money I could save if I had a travel insurance in these situations. If you don’t want to find yourself in a similar position, I suggest you read on. Here are some of the main benefits of having travel insurance.

1. It offers medical coverage

benefits of having travel insurance

Overseas travel insurance does not prevent misfortunes but offers consolation in the form of financial compensation when they occur. It caters to medical expenses in case of illness or accident. There is nothing more frustrating and strenuous than being seriously ill or injured in a foreign land. It gets worse when you don’t have the financial means to get treated or flown home. In some countries, health care is expensive and you might end up spending a lot of money on medical bills. Travel insurance reimburses the money you spend on treatment and if deemed necessary, caters for medical evacuation.

Need help choosing a travel insurance provider? Check out my guide to choosing the right travel insurance package for your next trip.

2. It covers disruptions to your travel

benefits of having travel insurance

Travel disruptions such as trip cancelation, interruption, and delay are common during travel. When flights are canceled or you need to return home urgently in case of emergency, travel insurance helps substantially. When travelers cancel a trip they had already paid for, they are likely to lose a significant amount of money. Travel insurance ascertains that you are compensated for any losses resulting from travel disruptions. In the absence of travel insurance, you may lose money and need to make new bookings.

Not all travel insurance caters for trip disruptions so make sure you read and understand the coverage to know what it covers and what it does not. From my experience, this is the most important benefit of having travel insurance. A large majority of my costliest travel mistakes is related to canceled flights and travel disruptions. You never know what might happen while you’re traveling. That’s why it’s good to have someone to…

3. Reimburse you for losses

benefits of having travel insurance

Luggage loss and damage is not new in travel. Losing your luggage is the most annoying holiday disaster and comes with an extra cost. It means that you have to spend extra money replacing your passport and other travel documents and buying a few sets of clothes. This may leave your pockets dry with an unexpected expense. However, with travel insurance, you are reimbursed for your losses and expenses and you don’t have to spend your money on an airline or hotel’s mistakes. Now, since I already mentioned airline mistakes…

4. It reclaims flight cancellation fees

benefits of having travel insurance

Canceled and rescheduled flights wreak havoc on the best-planned travel trips. Weather conditions and technical issues can cause a flight cancellation or delay. A number of travelers connect flights at short intervals and delay in a single flight affects the whole journey. Last time this happened to me, I was supposed to take a 2-hour flight from Kota Kinabalu to Singapore and from Singapore get on my flight to Frankfurt. The two flights were with different airlines and a long story short, during heavy rain, the first flight was delayed for 3 hours.

Not only did I lose my 400 EUR ticket but I had to get another one for 650 EUR. This was one of those times when I was cursing myself for not getting a travel insurance. Travel insurance normally assumes flight cancellation and delay fees and you do not have to spend extra bucks. This paves the path for…

5. Stress-free travel

benefits of having travel insurance

Unforeseen events make travel stressful and frustrating and put a damper on your trip. Travel insurance ascertains stress-free travel and gives you a great time to explore your destination. It covers you when the unexpected happens and you have greater control of things. You have peace of mind knowing that you are covered in case of any eventualities.

6. Personal liability

benefits of having travel insurance

In some occasions, your travel can have an adverse effect on someone else. For example, you can hire a car and then get involved in an accident. You have to pay for the car damages as well as other cars and persons involved. An unexpected accident may cost you more than you had planned for and ruin your holiday, and budget. When such a thing happens, you will be glad you have travel insurance because it will offset all your bills.

7. Coverage for the entire family

Many families consider travel insurance because it covers everyone onboard. Travel insurance covers all children traveling with adults as long as they do not have pre-existing conditions. While some travel insurance covers children at a cost, others do it at no extra cost.

Travel insurance may seem like an unnecessary expense on your pre-travel list. Many people wonder why they should protect themselves against a disaster that may not happen. Thinking about what could go wrong on your trip is not a good pre-travel topic. Nevertheless, travel disasters are expensive and have detrimental effects on your finances making travel insurance fundamental. If you ask me, it’s better to be safe than sorry and purchase travel insurance. Today, you will find many agencies that offer travel insurance for as low as $3 USD per day.

Finally, if you’re thinking about which travel insurance plan to choose, you can compare travel insurance from leading travel insurance carriers and save a lot of time while planning your trip.

WHY DO YOU NEED A TRAVEL INSURANCE_
travel insurance benefits
Do you really need a travel insurance_

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Isa Cole

Thursday 11th of October 2018

If you don’t have the money for treatment or you can’t afford the long bills of the hospitals and you are fond of visiting outside the country then you must go for travel insurance policy as it covers all the medical policies in it and you have to pay for hospital bills nothing.

Supriya Bhardwaj (SuBhaSun)

Sunday 29th of July 2018

Totally agree with your points. One must have travel insurance to save yourself from some unwanted debt. Would love to know more how and which travel insurance is best to opt?

Passport Symphony

Tuesday 31st of July 2018

Thank you for your comment Supriya. I'm working on a similar post at the moment. I will publish it soon :)

Claire

Sunday 29th of July 2018

Better safe than sorry, right? I always take an travel insurance even though luckily so far I had no need to use it!

Passport Symphony

Tuesday 31st of July 2018

Definitely, Claire. That's a smart move. I hope you don't need it in the future too but definitely, it's better to be safe than sorry :)

Maša

Thursday 26th of July 2018

I totally agree with all the pros! I would never go anywhere without my travel insurance! I think people often sees themselves as "nothing can happen to me" and that's sooo wrong.

Passport Symphony

Thursday 26th of July 2018

Indeed, Masha. I used to be one of those people too :D but I realized that this approach is wrong and now I use it all the time.

Rawan

Thursday 26th of July 2018

I once had terrible accident in the Philippines and didn't have insurance. I never travelled without it afterwards. But your articles says it covers more than just medical and that is good to know! Thank you for sharing.

Passport Symphony

Thursday 26th of July 2018

I'm sorry to hear about that Rawan and yes it's true, there are insurance providers that can protect you from non-medical circumstances too.