Introduction
Travel insurance is one of the most important requirements that everyone should buy before planning an overseas trip. Travel insurance is a policy that protects you from various risks related to travel, especially providing coverage against medical treatment that arises during your international travel. Travel insurance can also provide financial protection if your trip is cancelled or interrupted.
Most travel insurance plans cover delayed or lost of checked in baggage, loss of passport etc.; it depends on your travel insurance plan.
Travel insurance is a precautionary step; one should opt to safeguard himself from any unfortunate mishaps during travel.
This article highlights the risks and consequences of not having travel insurance.
Risks and consequences of not having travel insurance
Life is so unexpected, and it's full of ups and downs. One can't expect what will happen next moment. When you travel overseas, you can encounter any illness or medical emergency, loss of baggage, flight delay etc. So, the best way to handle these unexpected risks is to take travel insurance.
High medical expenses
Travelling to the west without travel insurance is the biggest risk, as the hospitalisation and medical care in these countries are so high. If a person encounters any medical emergency, the cost of affording good medical care is very expensive. Travel insurance saves a person from paying huge medical bills from his/her pocket and reduces the risk of being flown back home in the midst of treatment.
Some travel insurance also includes transportation of mortal remains, emergency medical transportation etc.
Loss of passport or baggage
As you know, theft and baggage losses are very common. It is an unexpected situation that drains your peace of mind. During this situation, you not only lose your bags but also have to pay additionally to replace your belongings. Here travel insurance comes as a saviour and aids the loss.
Flight delay
Travel insurance may provide you with compensation if your flight is delayed for more than 12 hours than the original scheduled departure time. For example, if your flight is delayed or postponed, you look for accommodation in a city you had not planned to visit.
Trip cancellation / Interruption
When you have to cancel / interruption of a trip unexpectedly due to accidental bodily injury, or death of a family member death the financial fallout of the cancellation fees can be a huge stress on the individual.
However, the travel and accommodation policy differs from provider to provider.
Summary
To conclude, travelling overseas without having a travel insurance policy is risky. Some may think about the money you have to spend on purchasing a travel insurance premium, but it is negligible when you compare the unexpected situations you might encounter during your trips abroad.
FAQ'S
What is travel insurance, and why do you need it?
Most travel insurance plans cover damaged or stolen luggage of checked in baggage, loss of passport etc.; it depends on your travel insurance plan.
How much does travel insurance cost?
1. Travel Destinations
2. Age of the traveller
3. Trip duration
4. Type of travel insurance policy
How do I purchase travel insurance?
1. Compare the travel Insurance
2. Check the inclusions and exclusions
3. Pick the travel insurance policy which serves your need
Are there any circumstances where travel insurance can't be purchased?
2. Treatment for any pre-existing disease
3. Cannot be purchased after the commencement of travel.
