“Do I need travel insurance?” shouldn’t be the million dollar question you should be asking yourself when you are planning a trip or holiday – whether its seven days away in the country you live in, or three and a half months away travelling around the world.
Rather, “Can I afford travel insurance?” is the question you should instead be asking yourself. If your answer to “Can I afford travel insurance?” is “no”, then quite simply you can’t afford to go on a trip or holiday.
You wouldn’t own a house without having home and contents insurance, and you wouldn’t own a car without having car insurance. Likewise, you wouldn’t travel without travel insurance.
It’s not only a case of your luggage getting lost. What if you fell off an elephant in Chiang Mai? Medical treatment costs abroad are very high, and you are personally responsible for paying for the costs.
Unfortunate incidents can happen without warning at any time, and at any place where ever you happen to be in the world. Taking out a travel insurance policy is priceless. It gives you peace of mind.
Possible needs for travel insurance include:
• Travel Services Provider Insolvency
• Medical and Dental Expenses
• Additional Accommodation and Transportation Expenses
• Amendment or Cancellation Costs
• Luggage and Travel Documents
• Delayed Luggage Allowance
• Rental Car Insurance Excess
• Travel Delay
• Resumption of Journey
• Hospital Incidentals
• Loss of Income
• Accidental Death
• Legal Expenses
• Personal Liablity
Just with any other insurance contract, you must look at the schedule of benefits before committing to any travel insurance contract. This is because you need to understand precisely what you are covered for.
So ask yourself,”Can I afford travel insurance?” Or ask yourself in another way, “Can I afford not to have travel insurance?”
The cost of travel insurance is a small price to pay, compared to your total budget of your trip or holiday.
And if you take out travel insurance before you go away, and some unforeseen event does eventuate, it’s also a small price to pay. Imagine coming home with a $1,000,000 lawsuit against you.
There’s a wide spectrum of travel insurance products on the market. When asking yourself,”Can I afford travel insurance?” determine which option suits you best. Some of the options include: international single trip or annual multi-trip; domestic single trip or annual multi-trip; business travel insurance; winter sports insurance; backpackers insurance; cruise line insurance; and family insurance.
So there is no excuse to leave home without it. If you do forget something, just don’t let it be travel insurance.