Let’s face it – disaster is always going to strike at the most inconvenient times and usually when we least expect it. But you don’t have to let that perfect holiday be ruined by unexpected surprises when peace of mind is possible, and comes in the simple form of travel insurance.
It’s been said that if you can’t afford to purchase travel insurance, then you simply can’t afford to travel. In the US, only an average 30% of international travellers invest in travel insurance before visiting foreign countries – meaning a massive amount of travellers are unprotected against unforeseen events. Hurricanes happen, planes are delayed, people get sick, and wallets get stolen.
What would you do if you were alone in a foreign country and couldn’t find your passport?
Travel insurance offers cover for many scenarios, including:
- Lost or stolen luggage
- Medical treatment and emergency situations
- Cancelled flights or holidays due to illness, bad weather or unforeseen circumstances
- Emergency accommodation and transportation
- Lost or stolen bank or credit cards
The price of a policy depends on varying factors: your age, any pre-existing conditions, the length of the vacation, and the level of coverage. No matter what, make sure you research and compare several policies before committing to anything – and always remember that the most expensive policy is not always the best choice.
There are several different types of policies available, ranging from basic coverage to adventurers insurance. When researching the best option for you, there are a couple of things to keep in mind:
Be aware of what you are actually covered for
Every insurance provider is different, so it is best to confirm what you are covered for BEFORE you purchase a policy, especially if you have something specific that you want coverage for.
Be aware of what limits apply to your policy to ensure you have enough coverage
In many cases, the policy will have capped amounts on items. For example, a cap of $500 may be applied to hospital costs, which isn’t ideal when charges on hospital care end up at around $1000 in the country you are in. Make sure you are happy with your limits before purchasing any type of insurance.
Always make sure there is some form of medical insurance as part of the policy
Hospitals average around $1,000 per day for basic treatment, let alone adding the cost of surgery or specialist treatment. Although pre-existing injuries may restrict the coverage, medical coverage is the most important part of having insurance. A holiday is no fun if you’re too sick to enjoy it.
If you plan on participating in a particular sporting activity, always check the fine print
Many companies do not cover extreme sports at all and will advise you to look for adventurers insurance instead. Although these policies are more expensive, they ensure the best care in the event of an accident.
Even if you are only looking at a weekend away in a quiet location, stop and think – could you afford the extra expense if disaster strikes?