Why Travel Insurance Is Absolutely Important

Travel Insurance is a legal contract binding you and the insurance company on a specified agreement of coverage for a particular period of time. For those who think it is really not important, then think again, because life is unpredictable and you would never be able to ascertain what is likely to happen during the course of your journey.

Here are 5 likely circumstance that may arise while travelling, that you would need a travel insurance to cover you.

  • Flight Cancellation: Nothing can be more frustrating than a flight delay or cancellation where you have to return home or even wait endless hours at the Airport to secure another flight. It is even more frustrating if its late at night, but if you have a travel insurance then you can call your insurance company for help
  • Loss of Baggage: Yes we all dread losing our property especially the important documents, but your travel insurance helps cover situations like this. The insurance company will help to find it or offer you compensation.
  • Emergency Cash: I bet most people don’t realize that in a situation where their wallet and passport get missing, that the insurance company can help them with emergency cash and assist to replace the stolen passport. 
  • Evacuation: You arrive at your destination and realize that there is a threat to your life probably as a result of Natural disaster, terrorist incidents or other unforeseen circumstances, your insurance company will assist in coordinating a fast evacuation back to a safe place.
  • Refund: The last thing you want to hear on a trip is that the Airline or Cruise line you are travelling with is no longer in service probably as a result of bankruptcy, who is going to refund your non-refundable expenses? Of course it’s your insurance company.
We all know the above scenarios are inevitable while travelling, so it is really a good idea to use a travel guard. Always choose a reliable Insurance Company with a proven track record of customer satisfaction, but remember that getting the most out of your travel insurance is about having the right policy. 
Be sure to read and understand your insurance policy. Here are quick tips to choosing the right insurance cover:
Destinations: Be sure to know if your insurance covers all your destinations for those who are travelling to multiple destination, know what destinations its doesn’t cover too.
Medical: It is essential that you know how much coverage you have and under what your medical cover applies. If you have a pre-existing medical condition, you will also need to check ahead of time that this doesn’t exclude you from the insurance cover you want to buy. You should also have a clear idea of what excesses you will be required to pay before your medical cover kicks in.
Personal Belongings:Most travel insurance policies will provide some level of cover for you and your personal properties. The key lies in knowing how much you are covered for, and if this enough to protect all of your baggage and belongings. If not, you may want to get a new policy or think about upgrading for specific items.  

Valuables: Don’t ever think that any valuables will be automatically covered by your insurance policy.Simple Items like passports, phones, laptops, cameras, tablets, sunglasses and jewellery are often excluded from cover, particularly when it comes to the lower-level/basic policies. Make sure you read the Product Disclosure Statement to gain an understanding of whether your valuables are protected and under what circumstances you can make a claim.
Exclusions: It is a mandatory part of any insurance policy and reading your Product Disclosure Statement carefully before you purchase should give you a comprehensive view of what is not included in your cover.You should make note of any specific events or items that are excluded from your policy, as well as any circumstances or situations that automatically mean your losses will be excluded.
Keep in mind that the above checklist is not meant to be a definitive list when you are deciding on which travel insurance is best suited for you. Instead, it should give you an idea of the main areas you need to put in to consideration when determining and purchasing your policy

 N.B If you have any questions or submissions contact me via the contact form. Please comment below if you find this post helpful

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